It’s one of the biggest questions first-time buyers ask — “Should I buy now, or wait until I’m more ready?”
The truth is, there’s no perfect time to buy.
But there are a few signs that can help you figure out whether you’re ready now, or if waiting makes more sense.
Here’s the simple breakdown.
1. Signs you might be ready to buy now
You don’t need a huge deposit or a perfect financial life to get started — but a few key things help:
- You have some savings (even $5k–$15k can work with support schemes)
- Your income is steady
- You have manageable debts
- You can comfortably cover repayments
- You’re tired of renting and want long-term stability
If the weekly repayments feel similar to (or even cheaper than) what you’re already paying in rent, you’re usually more ready than you think.
For many people, the biggest surprise is realising they don’t need the “perfect” financial setup — just a stable one.
2. Signs you might want to wait a little longer
Sometimes waiting is the smarter move, especially if:
- Your income is unstable or you’re between jobs
- You have high credit card or personal loan debt
- You’re relying on overtime or bonuses the bank won’t count
- You’re still building up savings and want a bigger buffer
- Your credit score needs a little work
Waiting isn’t a bad thing — it just gives you time to get into a stronger position so the buying process feels stress-free.
Even 3–6 months of preparation can make a big difference to your borrowing power.
3. What people get wrong about “waiting until they’re ready”
Most renters think waiting will help them buy something better.
But the numbers often tell a different story.
While you’re waiting:
- Property prices usually rise
- Rent goes up almost every year
- Your deposit goal grows as prices increase
- You’re missing out on equity you could’ve been building
For a lot of first-home buyers, buying earlier — even if it’s a smaller or more affordable home — puts them in a far stronger position long-term.
There’s no perfect moment. There’s just the moment you stop renting and start building equity.
4. So… should you buy now or wait?
It comes down to one simple question:
Can you comfortably afford the repayments right now?
If yes — you might be more ready than you think.
If not — a short preparation period can get you there.
Buying a home is less about timing the market and more about being financially comfortable, stable, and confident in the next step.
