The Cost of Waiting to Buy: A Leesburg Example
Back in 2023, a townhome in Leesburg sold for $482,000. Fast forward to 2025, that same townhome sold for $550,000. That’s a $68,000 increase in just two years
Mortgage Rates In 2023 vs. 2025:
- 2023 mortgage rates averaged around 7%.
- 2025 mortgage rates averaged around 6.66%
So yes, rates were slightly more favorable in 2025 than the peak of 2025, but home prices increased!
Monthly Payment Snapshot - Here’s what that home would cost you in mortgage payments, all other things being equal:
If you bought in 2023:
- Purchase Price: $482,000
- Assume 20% down and a 30-year mortgage at 7.0%
- Monthly Principal & Interest: $2,570 (approx.)
If you waited until 2025:
- Purchase Price: $550,000
- Same 20% down, 30-year mortgage at 6.6%
- Monthly Principal & Interest: $2,810 (approx.)
Waiting might save you a tiny bit on interest. But rising prices often wipe out that savings, especially in high-demand markets like Leesburg and Loudoun County. And in this case your mortgage is still higher even with the dip in rates.
Bottom Line: The biggest affordability factor isn’t always interest rates, it’s home price appreciation itself. And every year you wait to get into the market, you risk paying more. Timing matters. Let’s see what it means for you! Give me a call and we can chat!
