It’s the end of February 2025, and so far it’s already proven to be a wild, unpredictable year. In fact, people are asking us for predictions on what the Spring market will look like, and I’ve been answering them honestly:
I don’t know.
And although I wish I had more clarity for them, I’m not worried. Yes, the market is uncertain, and the world around us is even less certain, but we’ve navigated through similar unknowns before.
When COVID struck five years ago, we all looked around and wondered how the real estate market, the stock market, and everything else would react.
And we made it—thanks to strategic thinking, financial prudence, and the strength of our community.
And if you’re going to make it through the current market uncertainty—and determine if now is the right time to buy a house—you’ll require that same strategic thinking, financial prudence, and community support.
How to Decide If Now Is the Right Time to Buy A House
Here are some important questions to consider—and they’re essential both now, in 2025, and in general!
1. What’s Your Risk Tolerance?
If you’ve ever worked with a financial advisor, one of the first questions they ask is, “What’s your risk tolerance?” In other words: How comfortable are you investing aggressively with the possibility that you could lose all of it?
When buying a house, the question is the same—but instead of investing in stocks and bonds, you’re investing in a home.
And there’s always risk involved when you buy a home. A few examples:
You could lose your job in the next few months or years, which would make your mortgage difficult to pay every month.
Your home inspection could miss a critical defect, which could lead to injury or costly repairs later on.
A flood, fire, or storm could destroy your home. As the homeowner, you’ll be responsible for finding a new place to live.
You have to determine how comfortable you are with those possibilities. As a renter, you can always move into a new apartment. But buying a home is a much more complicated process, and it’s difficult to be as nimble.
To learn more, check out our list of homebuying mistakes to avoid!
2. Do the Benefits of Homeownership Outweigh the Drawbacks (For You)?
There are inherent benefits and drawbacks of homeownership, and you’ll need to determine whether or not those perks outweigh the negatives. (For a deeper overview, check out our article on the pros and cons of buying versus renting!)
Some of the Benefits of Homeownership
Owning a home has some huge perks that are difficult to ignore. Three of the biggest:
Freedom. You can paint the walls any color, install any flooring, and add on as many additions as you can afford. And nobody can hold you back (unless your partner has some strong opinions)!
Equity. Your home is a valuable asset that may appreciate over time. As you earn equity in your home, you can use it as an asset for additional loans in the future.
Security. When you rent, your landlord has the option to increase rent as frequently as local laws allow them. But with a home, your mortgage payment remains the same every month unless you decide to refinance.
Some of the Drawbacks of Homeownership
Sometimes, renting is the better option. Here are three reasons it could be better to defer homeownership:
Responsibility. When you’re renting, you can push plumbing problems, electrical issues, and other headaches off to your landlord. But when you own, every problem with the house is your problem.
Financial Costs. Paying for your home isn’t just about paying the mortgage. You’ll also pay for insurance, maintenance, supplies, and more. All told, you could pay hundreds (or more) of extra dollars every month.
Inflexibility. As we mentioned earlier, buying a home is a complicated, multi-step process. When you own a home, it’s more challenging to move than when you’re renting.
3. Are You Worried About Your Job?
Your ability to pay for your mortgage is directly tied to your job security. Right now, in 2025, millions of homeowners are uncertain about their job security—especially individuals who work for the federal government.
Regardless, no industry is safe all the time. Even major employers like Walmart and Starbucks occasionally announce mass layoffs, and these decisions can have a widespread impact on families around the country.
With that in mind, here are two job-related questions to consider:
Is There A Chance You Might Lose Your Job In the Next Six Months?
If you’re unsure whether you’ll still have a job in the next few months, you’ll really need to consider whether purchasing a home is right for you.
That said, there are still advantages to buying. As someone who’s gainfully employed, you’ll have an easier time qualifying for a loan.
Remember: Even though you may qualify for a mortgage, an uncertain future employment status may mean cutting back on your maximum bid. So, even if you qualify for borrowing up to $350,000, it may make sense to cut your offers by at least 30% so you never go over $245,000.
If you do lose your job a few months after purchasing your home, you’ll have a much easier time continuing to pay your mortgage as you look for a new position.
Is There A Chance You’ll Need to Move For Your Job?
We’ve seen people who buy a home only to move for work a few months later. It’s a difficult, emotional challenge.
But for some people, it’s worth it.
You’ll need to ask yourself: Are you comfortable buying a home when there’s a possibility you’ll need to sell it in the coming months or years?
Our Guiding Philosophy
As a couple, we’ve been through countless unknowns.
As business partners, we grew through starting our own business, partnering with fellow agents, and navigating the financial constraints of the COVID-19 pandemic.
As husband and wife, we’ve been through similar challenges. From balancing work, family, and moving houses multiple times, parenting has been a rush of unexpected hurdles.
Through everything, though, we’ve followed a single guiding philosophy: Whenever you encounter instability or uncertainty, find a way to wrestle it that’s comfortable for you.
The best decision may be totally unique to you, your personality, and your personal circumstances.
So, if you’re thinking about buying a home, get introspective. Review the questions and considerations we listed in this article and figure out what feels best for you.
Rely On Our Expertise
If you need help considering your options, contact us! We’d be delighted to help you navigate Pittsburgh’s neighborhoods and find the perfect home for you.