Why Waiting to Buy a Home Could Cost the Next Generation
Last week, I had breakfast with a group of fellow realtors—most of them parents with kids older than mine. Naturally, the conversation turned to college planning.
One of them casually dropped, “Yeah, my kid’s tuition is $80,000.”
Without thinking, I blurted out, “DAAAYYYYMMM… that’s a lot for four years!”
The whole table laughed—then corrected me.
Nope. That was per year.
That moment hit me. When I went to college, it was just under $20,000 a year. That number is burned into my brain. But today’s reality? Education costs have skyrocketed. And as wild as that sounds, it’s not so different from what’s happening in the housing market.
The Real Cost of Waiting
You’ve heard the stories—someone bought a home, sat on it for years, then sold it for double or triple the price. We call them “real estate geniuses,” but truthfully, they just held onto real estate long enough to let time do the heavy lifting.
Here’s the math:
If home prices appreciate at just 4.6% per year (a conservative historical average), by the time my 16-month-old son is ready to buy a home, that $510,000 house today will cost around $1,059,300.
Let that sink in.
Yet so many people are still sitting on the sidelines, “waiting for the right time” to buy. But the data is clear—waiting often makes things worse, not better.
So What Can We Do?
Let’s be real: wages have not kept up with rising costs—especially in education and housing. If current trends continue, the next generation will face a much steeper climb toward homeownership.
But we’re not powerless. Whether you’re a buyer, a homeowner, or a parent, here’s what I’d suggest:
✅ Thinking about buying? Stop waiting. Start planning.
Get educated, explore financing options, and make your move before affordability slips further out of reach.
✅ Already own a home? Think long-term.
Hold, invest, or consider passing it down. Real estate is a long game, and time in the market matters.
✅ Raising kids? Build them a runway.
Teach them about money. Help with a down payment when the time comes. Think about generational wealth, not just monthly budgets.
The question isn’t if home prices will go up.
The real question is—what are you doing about it today?
