Waiting Feels Safe. It Isn't.

Most people who delay buying a home aren't being reckless. They're being cautious. They're watching rates. They're saving longer. They're waiting for the "right time."

But here's the thing nobody tells you: waiting has a price tag. And it's a big one.

According to data from the National Association of Realtors (NAR), delaying homeownership by just 10 years - say, from age 30 to age 40 - costs the average buyer approximately $150,000 in equity. That's not a penalty fee or a fine. That's simply the wealth that doesn't build because the clock never started.

This article breaks down exactly why that happens, what "waiting" actually costs in real numbers, and how to figure out what you can afford right now, even if you don't think the timing is perfect.

What Is Home Equity and Why Does It Compound Over Time?

Home equity is the portion of your home's value that you actually own. It's the difference between what your home is worth and what you still owe on your mortgage.

When you buy a home, two things start working in your favor immediately:

1. Loan paydown. Every mortgage payment you make reduces your principal balance. Early in a loan, this happens slowly, but it's still happening. Over 10 years, a significant portion of your balance is eliminated.

2. Appreciation. Historically, home values in the United States have appreciated at an average of 3–5% per year. In markets like the Raleigh-Durham-Cary Triangle area of North Carolina, appreciation rates have frequently exceeded that average over the past decade.

These two forces compound. Each year you own a home, your equity grows both because your balance drops and because the value rises. Each year you wait, you miss that compounding entirely.

The $150,000 Question

Let's put real numbers on this.

Assume someone buys a $350,000 home at age 30. Over 10 years, with average appreciation and normal loan amortization, that buyer builds somewhere in the range of $100,000 to $150,000 in equity - depending on the market, the loan terms, and the down payment.

The person who waits until 40 to buy the same type of home doesn't just lose that equity. They also pay more for the home, because that same home is now worth more. They're starting the clock later, at a higher entry price, with less time for compounding to work.

This is what the NAR data reflects: a $150,000 gap in wealth between the person who bought and the person who waited.

"But Rates Are High Right Now"

Yes. Rates are higher than they were in 2020 and 2021. That's real, and it matters for your monthly payment.

But here's something worth sitting with: the buyers who purchased in 2022 and 2023 - when everyone said it was the wrong time, when rates had jumped and headlines were grim - those buyers have equity today. Meaningful equity. In many Triangle-area markets, homes purchased during that window have already appreciated significantly.

Rates fluctuate. They always have. When rates drop, buyers who are already in a home can refinance. Buyers who are still renting cannot recoup the equity they missed building.

Waiting for a perfect rate environment has a hidden cost that most people never calculate.

The Expenses Nobody Budgets For

When people talk about the cost of buying a home, they budget for:

• Down payments
• Closing costs
• Monthly mortgage payments
• Homeowner's insurance and taxes

Almost nobody budgets for the cost of not buying.

That cost shows up in:

• Continued rent payments that build zero equity
• Rising home prices that push your target home further out of reach
• Lost appreciation on a home you could have owned
• Delayed retirement wealth because home equity is one of the largest assets most Americans hold at retirement

The opportunity cost of renting is real. It just doesn't show up in a statement.

"I Can't Afford to Buy Right Now"

This is the most common reason people delay and it's often based on assumption, not information.

Many buyers assume they need 20% down. They don't. Conventional loans are available with as little as 3–5% down. FHA loans start at 3.5%. VA loans for eligible veterans and service members require no down payment at all. Our mortgage team also offers North Carolina down payment assistance programs for qualifying buyers.

Many buyers assume their credit isn't good enough. For some, that may be temporarily true, but a mortgage strategy conversation can map out exactly what needs to happen and in what order to change that, often in less time than people expect.

Many buyers assume the market is too competitive right now. In some price points and neighborhoods, yes. In others, buyers have more leverage than they've had in years.

The word "can't" deserves to be tested before it's accepted.

Watch: Sherry Riano on the Real Cost of Waiting

In this Instagram reel, Sherry Riano breaks down the $150,000 equity gap, addresses the objections most buyers have right now, and explains why the people who bought "at the wrong time" two years ago aren't second-guessing themselves today.

Click here to watch

If you've been on the fence about buying, this is worth two minutes of your time.

What a Strategy Conversation Actually Looks Like

At The Sherry Riano Team, we don't start with an application. We start with a conversation.

Before any buyer submits paperwork, we sit down and map out:

• What you can qualify for today
• What loan program makes the most sense for your situation
• What your monthly payment actually looks like across different scenarios
• What, if anything, needs to shift before you're in the best position to buy

This approach prevents deals from falling apart later in underwriting. It also gives buyers a real answer - not a guess, not a maybe - so they can make a decision based on actual numbers rather than fear.

That conversation is free. It doesn't require a credit pull. And for a lot of people, it changes the entire picture.

What If You're Not Ready Today?

Then let's figure out what "ready" actually looks like for you - and build a plan to get there.

For some buyers, that's 60 days away. For others, it's 6 months. Occasionally it's longer. But the conversation is never wasted, because knowing your number is the first step toward hitting it.

The equity clock starts the day you close. The sooner you know what it takes to get there, the sooner you can start.

Frequently Asked Questions

How much equity does the average homeowner build in 10 years? According to the National Association of Realtors, the average homeowner builds approximately $150,000 in equity over a 10-year period. This figure varies based on local appreciation rates, the loan type, and the down payment - but the direction is almost always the same.

Is it better to buy a home now or wait for rates to drop? Waiting for rates to drop means waiting to start building equity. When rates do drop, buyers who already own can refinance. Buyers who waited cannot get back the appreciation they missed. For most people, the math favors buying sooner rather than later - at the right price point and with the right loan structure.

What if I can't afford a 20% down payment? You don't need 20% down to buy a home. Conventional loans start at 3–5% down, FHA loans at 3.5%, and VA loans are available with no down payment for eligible borrowers. Down payment assistance programs in North Carolina can also provide valuable help for qualifying buyers.

What is the first step to buying a home in North Carolina? The best first step is a strategy conversation with a licensed mortgage professional - before you apply, before you pull credit, and before you fall in love with a house. This conversation gives you a clear picture of where you stand, what you qualify for, and how to structure your loan for the best possible outcome.

How do I get started with The Sherry Riano Team? Call or text us at 919-234-7415, or click here to schedule a 15-minute call. We serve buyers across Raleigh, Cary, Durham, Wake Forest, Clayton, Holly Springs, Apex, and all of North Carolina from the mountains of Asheville to the coast of Wilmington.

The Bottom Line

Waiting has a cost. Most people don't realize it until it's too late - not because they weren't paying attention, but because nobody laid out the math clearly enough.

The goal of this post isn't to pressure anyone into buying a home they can't afford. It's to make sure that when you decide to wait, you're doing it with full information. Because if the numbers say buying now makes sense for you - and for a lot of people, they do - the best time to find that out is today.

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Sherry Riano is a nationally recognized mortgage lender and Branch Manager at Developer's Mortgage Company, serving North Carolina since 1999. The Sherry Riano Team is consistently ranked among the top mortgage lenders and teams in North Carolina.

The Sherry Riano Team | 215 E Chatham St, Suite 301, Cary, NC 27511 | 919-234-7415 | thesherryrianoteam.com

Sherry Riano NMLS #71774 | Developer's Mortgage Company NMLS #225548 | Licensed by the NC Commissioner of Banks | Equal Housing Lender | This is not a commitment to lend. Eligibility subject to credit approval.

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