BUY NOW vs WAIT CALCULATOR
Should You Buy a Home Now or Wait to Save a Bigger Down Payment?
Summary
| Now | Wait | |
|---|---|---|
| Time to Save 20% | N/A | 0.00 years |
| Home Price | $0 | $0 |
| Down Payment | $0 | $0 |
| Housing Payments Made | $0 | $0 |
| Upfront Costs | $0 | $0 |
| Home Equity | $0 | $0 |
Monthly Payment Snapshot
| Now | Wait | |
|---|---|---|
| Principal & Interest | $0.00 | $0.00 |
| Property Taxes | $0.00 | $0.00 |
| Homeowners Insurance | $0.00 | $0.00 |
| Mortgage Insurance | $0.00 | $0.00 |
| Total Monthly Payment | $0.00 | $0.00 |
The mortgage payment calculators founds on tcstrait.com are for estimation purposes only. Their results do not reflect all loan programs. They are subject to specific loan program limits. Qualification, rates and payments will vary based on timing and individual circumstances. They are not a commitment to lend. They do not include all fees.
Want to know exactly what you qualify for?
Use this free Buy Now vs Wait calculator to compare the long-term cost of buying a home now vs. waiting to save a 20% down payment.
If you’re a first-time homebuyer in Lebanon, Morrow, or anywhere in Ohio, this tool can help you see how rent, appreciation, and home equity add up over time — and whether waiting is really the smarter move.
Thinking about buying your first home but not sure if the timing is right? Explore your loan options today.
How the Buy Now or Wait Calculator Works
This calculator compares two paths:
- Buy Now: Based on your current financials — including your down payment, estimated interest rate, and today’s home price.
- Wait and Save: It estimates how long it would take you to save up a 20% down payment, how much the home might appreciate during that time, and how much rent you’ll pay in the meantime.
Here’s what you’ll enter:
- Home Price
- Down Payment Amount
- Interest Rate
- Current Monthly Rent
- Monthly Savings Toward Down Payment
- Average Annual Appreciation Rate (for home prices)
The output will show:
- How many months it will take to reach 20% down
- What the home price will be at that time (based on appreciation)
- Total rent and housing payments made in each scenario
- Your upfront buying costs today
- Your estimated home equity at the end of the saving period
- A side-by-side monthly payment snapshot so you can clearly see what you’d be paying now vs later
This tool helps make sense of the numbers — and may surprise you with what buying now could mean in terms of equity, appreciation, and long-term cost.
Why This Calculator Matters
A lot of first-time buyers hesitate because they think they have to save 20% down. And while that can eliminate mortgage insurance, waiting isn’t always the smartest financial move.
When home prices are rising — as they are across Lebanon, Morrow, and much of Southwest Ohio — waiting often means:
- Paying more later for the same home
- Missing out on equity growth
- Continuing to spend thousands in rent
- Risking higher interest rates in the future
This calculator is designed to help you challenge the “wait and save” mindset with real numbers.
About T.C. Strait / Mortgage Loan Officer
I’m T.C. Strait, a licensed mortgage broker based in Mason, OH, and I’ve helped hundreds of first-time buyers across Ohio make smart decisions — even when the path to homeownership feels uncertain.
I specialize in breaking down the process, walking you through your loan options, and helping you figure out if now is the right time — no pressure, just clear guidance.
If you’re comparing the cost of buying vs waiting, I’d be happy to talk through your numbers and help you understand your options.
Let’s connect when you’re ready.
Frequently Asked Questions
Do I really need 20% down to buy a home?
No. Many first-time buyers put down as little as 3% to 5%. While 20% avoids mortgage insurance, waiting to hit that number could cost you more long-term.
How does this Buy Now vs Wait calculator estimate appreciation?
You’ll enter an average annual home price increase — usually 3–6% in Ohio. The tool uses that to project the future value of the home if you wait.
What if I don’t plan to stay in the home long?
This tool is most useful if you expect to own the home for several years. If you’re planning to move soon, we can run a more custom rent vs. buy analysis.
Does the Buy or Wait calculator include taxes and insurance?
Yes. The monthly payment snapshot includes principal, interest, property taxes, and homeowners insurance, so you can compare total costs accurately.
What if I want to see what buying looks like with different loan types?
You can try the Purchase Mortgage Calculator or contact me for a personalized side-by-side breakdown.
Want Help Exploring Your Loan Options?
If you’re unsure whether now is the right time to buy, or want help comparing real mortgage options, I can help you sort through the numbers and the noise.
Explore your loan options here — or reach out with questions anytime.