You know, people keep asking me this one. Is there ever really a right time to buy a house. Or is it just about finding a time that actually fits your life right now.
I hear it a lot in the office. Someone sits down, coffee in hand, and says they’re waiting for everything to feel perfect. Lower rates. Cheaper prices. Less uncertainty. It makes sense.
Nobody wants to buy and then wish they’d waited.
But after all these years the answer is always the same. There is no single perfect moment that suits everyone. Markets don’t wait for us to feel ready. They move because of rates, building activity, jobs, and bigger things we can’t control. You can hold off until it feels completely safe. Sometimes you end up waiting years. Rent keeps going out. The house you loved sells. Life moves on.
Why waiting for perfect rarely works
I’ve seen it both ways. One couple waited in 2022 and 2023 because rates were climbing and prices felt high. They were sure a big drop was coming. Later, rates eased but the homes they wanted had quietly gone up or sold. They bought something similar for more money and higher repayments. They still mention it sometimes.
Then there are the people who bought when things felt uncertain. Rates weren’t at their lowest. Prices weren’t falling. But the house suited their family. The repayments fitted without squeezing everything else. They moved in, made it theirs. Years later they say it was one of the best decisions they made. Not because they timed the market. Because they timed it for their life.
Perfection is a myth. There is always another dip people talk about. Another rate cut.
Another reason to wait. But kids grow. Jobs change. Families shift. The longer you wait the more chance you miss what actually works for you.
What really matters when you decide?
It always comes back to your own situation.
Your income. Is it steady. Do you see it staying that way for a few years. A mortgage is long.
If your job feels secure that gives you more room to move.
Your deposit. How much have you saved. Can you cover the upfront costs without draining your safety money. Banks look closely at this. A stronger deposit often makes things easier.
Your plans. Are you staying in Christchurch long term. Good schools. Family nearby. The life you’ve built. If yes, owning usually makes more sense than renting forever. If you might move in a couple of years renting can keep it simpler.
Family needs. Growing kids want space. Someone working from home needs a quiet room. An older parent moving in changes the layout. Those things shape the home more than any market trend.
Daily life. Commute. Shops. Parks. A house that looks good on paper but adds an hour to every day can wear you down.
All of that matters more than chasing the lowest rate ever or the cheapest price on record.
Where things stand right now
Rates are lower than their peak a couple of years ago. Shorter fixes feel easier. Floating is higher but manageable. Prices aren’t racing up like before. More homes are around from new builds and people moving. It’s not a frenzy but good places still sell when priced fairly.
No one knows what happens next. Rates might drop more. They might hold or rise. Prices could stay flat, edge up, or soften in places. Forecasts are guesses with numbers. They give context but they don’t decide for you.
What decides is whether the repayments leave space to live. Not just today. If bills go up or
rates move can you still manage without stress.
That is the real test.
How people usually make the call
Most don’t wait for certainty. They reach a point where it feels balanced. Not thrilling. Not scary. Just okay.
Some start smaller. A townhouse or unit to get in. Build equity. Move up later. Others go straight for the family home they want to keep.
A few split the loan. Fix part short for flexibility. Float part in case rates fall. It’s not about being clever. It’s about sleeping better.
I’ve had people come in excited about a place. We run the numbers. It looks tight. We talk about saving more or waiting a bit. Sometimes waiting is better. Other times everything fits and moving ahead feels right.
There is no shame in either. Buying is not a race. It should fit your life.
What to do when you’re stuck wondering
If this keeps going round in your head try writing two lists.
First: what you need in a home. Bedrooms. Outside space. Close to work or family. Quiet street or near shops. Be honest.
Second: what you can afford without feeling stretched. Not the maximum the bank might say. The payment that leaves room for surprises and breathing space.
Look at what’s for sale now. See how the lists match.
Talk to friends who bought recently. Ask what surprised them. The good and the bad often teach more than any forecast.
If rates change or a house catches your eye go back and check again.
In the end the right time isn’t a date on the calendar. It’s when saying yes feels more calm than worried.
Not everyone gets there at the same moment. That’s normal.
If you’re thinking about this right now maybe pick one thing that would make it feel more solid. More savings. Clearer job picture. A suburb you love. Jot it down.
We could talk it through sometime if you want. Look at real numbers. See what fits or what needs more time. No rush. Just clarity.
Saying it out loud often makes it feel lighter.