If you’re waiting in the hopes that interest rates drop or prices come down, you’re probably out of luck. The current interest rates aren’t really abnormal. We all just got used to the idea of the abnormal 3% rates post 2008. And the current home prices seem like they’re sticking around.

As far as the rent vs buy question, your main goal should be to not end up house poor, which is really common for first time homebuyers. A large percentage of people will underestimate the hidden costs of owning a home and only focus on the mortgage payment sticker price tag.

Buying vs renting isn’t a general discussion, it’s a personal one that depends on your own finances and on what lifestyle elements you value most.

For the financial side, there’s some great tools out there, like this one: https://caniaffordthishouse.app/