I get the intuition thing, but honestly, after my bankruptcy a few years back, I jumped into buying again pretty quickly and kinda regretted it. The higher interest rate really stung for a while, and looking back, waiting another year or two would've saved me thousands. Not saying don't trust your gut—just make sure it's not excitement talking louder than common sense. Sometimes patience pays off big-time...
Went through something similar a while back. After my bankruptcy, I was tempted to jump right back into ownership, but decided to hold off for about two years. Turned out to be a smart move:
- Improved credit score significantly, so got much better interest rates.
- Saved up a bigger down payment, which lowered monthly payments noticeably.
- Had time to research neighborhoods more thoroughly, avoiding some costly regrets.
Definitely agree patience can make a huge difference... excitement fades, but those mortgage payments stick around.
Totally get where you're coming from—waiting it out can really pay off. But sometimes the market shifts fast, and waiting too long can mean missing out on good deals. Did you feel any pressure from rising home prices while you waited? Curious how you balanced that...
We felt that pressure too—prices were climbing steadily while we waited. Honestly, it was nerve-wracking. We ended up setting a firm timeline to avoid endless waiting... balancing patience with practicality was key for us. Did you set any specific deadlines or just wing it?
We didn't exactly set a hard deadline, but I definitely see the value in it. When we bought our place after bankruptcy, we initially thought waiting longer would help us save more for a bigger down payment. But honestly, the market moved faster than our savings did... felt like chasing a moving target. Looking back, I think setting a clear timeline would've helped us avoid some of that anxiety and second-guessing. Did you find your timeline helped you feel more confident in your decision?
