Should We Wait to Buy? How to Think It Through

It's Sunday night and you're both on the couch, scrolling listings you've already seen twice.

Your mum says wait for rates to drop. A mate at work says prices will fall. Someone on TikTok says buy now or never.

So you close the app and say what every couple says. Maybe we just wait.

Waiting is a decision too

It feels like doing nothing. It isn't.

Every month you wait, you're choosing rent over repayments, and you're betting that the market in six or twelve months suits you better than the one in front of you now.

Sometimes that bet pays off. Sometimes it doesn't. Nobody, including the Reserve Bank, knows for sure which way it goes.

So the useful question isn't "should we wait?" It's "what exactly are we waiting for, and will it actually change?"

What waiting can change

A few things really can shift while you sit tight.

• Your deposit. Another six months of saving is real money. That's the strongest reason to wait, if you're close to a number that matters.
• Your income. A pay rise, a new job passing probation, or a partner returning to full time work can change what a lender will offer.
• Your debts. Paying off a car loan or closing a credit card you don't use can lift your borrowing power.
• Interest rates. They can go up or down. A change moves your repayments and what a lender will lend. Guessing the timing is the hard part.

If one of those is genuinely a few months away, waiting has a purpose. Put a date on it.

What waiting doesn't change

Here's what stays put, no matter what the Reserve Bank does this week.

• The 5% deposit scheme. The First Home Guarantee lets eligible buyers purchase with a 5% deposit and no Lenders Mortgage Insurance, up to $950,000 in Melbourne. Since October 2025 there are no income caps and no limit on places.
• Victorian stamp duty. First home buyers pay no duty up to $600,000, with a sliding concession up to $750,000.
• The rent you pay while you wait. That money is gone either way.

Those schemes can change, of course. Governments adjust them. But right now they're available, and they don't depend on the cash rate.

If you'd like to see where you stand today, rather than guessing, book a chat. We'll run your real numbers against the schemes you qualify for.

Picture two couples in Hoppers Crossing

Same incomes. Same savings. Same street they've been driving past for a year.

The first couple waits for "the right time". Twelve months later they have more saved, but they've also paid another year of rent, and they're still not sure the time is right.

The second couple gets their numbers checked. They learn they're closer than they thought, get a pre-approval, and start going to open homes with a clear budget. Maybe they buy. Maybe they decide to wait six more months, but now they know why.

Neither couple is wrong. The difference is the second one made the call with facts, not with fear.

Three questions to ask yourselves

Before you decide either way, try answering these honestly.

• What number are we waiting for? A deposit figure, a borrowing figure, or just a feeling? A number can be planned for. A feeling usually moves.
• What happens to our rent if we wait a year? Check your lease and what similar places nearby are asking.
• Do we qualify for anything today that we might not later? Schemes, price caps and your own circumstances can all change.

If the answers point to waiting, wait with a plan. If they point to looking now, look with a budget.

The point is to choose on purpose

There's no prize for buying first, and no shame in holding off. What costs people is drifting. Waiting without a target, or buying without knowing the numbers.

This is general information, not advice about your situation. Your income, debts and timeline all change the picture.

We've helped over 100 first home buyers into the market, and we're rated 10/10 on Reviewr by over 100 customers. Book a chat and we'll show you what buying now and buying later look like side by side.

Let's get you into a home.

Figures verified 28 September 2026 against Housing Australia, the State Revenue Office Victoria and vic.gov.au.