Still Renting? Here’s Why Waiting to Buy Might Cost You More

I’ve had this conversation with a lot of clients lately, and if you’re renting and thinking about buying, I want to share something important.

Yes, prices are high. Yes, interest rates are tough. But waiting for the “perfect time” to buy could end up costing you thousands.

Here’s why:

• Home prices in Canada have increased about 5% per year over the long term, even during slowdowns. That $700K home today? It could be $735K next year.

• When rates drop, buyer competition spikes, which often drives prices up again.

• Renting feels flexible, but with rising rents (up 12% nationally in 3 years), you’re spending money with no return. $2,400/month in rent? That’s $30K a year — building zero equity.

So what can you do instead of waiting?

• Start saving for your down payment now.

• Get pre-approved so you know what’s possible even if you’re 6–12 months out.

• Explore options like shared ownership, co-buying, or looking in smaller markets.

Bottom line: The best time to buy is when you’re ready, not when the headlines say it’s time. If you're thinking about buying, let's talk. I’m here to help you plan your next step.