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Waiting for interest rates to fall before purchasing a home may seem like a strategic move, but it comes with potential downsides. In a dynamic real estate market, delaying your home purchase in anticipation of lower rates could lead to two significant challenges.

Firstly, there's the risk of facing higher home prices. Real estate markets are subject to fluctuations, and while you wait for rates to drop, property values may rise. This upward trend in home prices can offset any potential savings you might gain from a lower interest rate.

Secondly, you might miss out on your dream home by adopting a wait-and-see approach while also losing that equity you could have built if you bought earlier!

A more strategic approach would be to consider purchasing your home now and if interest rates do decrease in the future, you can explore the option of refinancing.

If you are interested to know more, let's chat!

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