"Makes me wonder, is waiting ever really worth it if the market's hot?"
I get your point, but isn't there also a risk in jumping in too soon? Had a client who rushed into buying at peak prices—then the market cooled slightly. Talk about buyer's remorse... balancing act, right?
Yeah, true, timing's tricky... but isn't the bigger question whether your credit situation after bankruptcy makes waiting a smarter move overall? Maybe the market cools, maybe it doesn't, but wouldn't better credit terms save you more long-term?
Honestly, waiting it out for better credit terms can be a game changer. After my bankruptcy, I was itching to jump back in (renting drove me nuts), but holding off a couple years saved me thousands over the life of my mortgage. Yeah, the market didn't exactly tank like I hoped, lol, but those improved credit terms were worth their weight in gold... or at least in fewer stress-induced gray hairs. Patience sucks, but sometimes it pays off big-time.
You're spot on about patience being key. I remember after my credit took a hit, I was tempted to jump back into ownership ASAP. But waiting even just an extra year gave my credit score enough time to recover, and the difference in my interest rate was huge. Sure, renting felt like throwing money away at times, but looking back, that temporary frustration was worth the long-term savings. Hang in there—sounds like you're on the right track.
Good point about the interest rate savings, but I'm curious... did you crunch the numbers on how much you spent on rent during that waiting period? Sometimes, even with a higher initial interest rate, getting back into ownership sooner can build equity faster, especially if home values are on the rise. I guess it depends a lot on the local market and how quickly home prices are climbing. Just something else to weigh in the decision.
