New Study Reveals the Hidden Cost of Waiting To Buy a Home
For millions of Americans, homeownership feels less like a milestone and more like a moving target. Rising home prices, stubborn interest rates, and mounting rent costs have created a frustrating cycle. Many renters want to buy but feel financially stuck. The longer they wait, the more expensive that hesitation becomes.
To better understand this tension, Lombardo Homes surveyed 1,005 Americans about the real and perceived costs of delaying a home purchase. The findings reveal widespread anxiety, growing regret, and a housing market that is testing the financial confidence of renters and homeowners.
Key Findings:
- 9 in 10 renters feel trapped between rising rents and home prices
- 93% worry waiting to buy a home will make homeownership less affordable
- 84% say buying a home feels impossible in today's economy
- 76% believe renting prevents long-term wealth building
- 77% of Americans believe waiting to buy a home has financial consequences
- 68% believe they would have saved money if they bought a home sooner
9 in 10 Renters Feel Trapped Between Rising Rents and Home Prices
Nearly half of survey respondents (44%) are currently renting. Among them, 84% say they are likely to buy a home someday. Despite that intention, most have been sitting on the sidelines for years.
Nearly 3 in 5 renters (57%) say they have been considering buying a home for at least two years. Another 22% have been thinking about it for more than five years. Only 9% began considering homeownership within the last year.
That hesitation is not without reason. An overwhelming 90% of renters say they feel trapped between rising rent prices and higher home prices. And 93% are concerned that waiting to buy a home will make homeownership even less affordable down the road.
The Barriers Keeping Renters on the Sidelines
When asked what is delaying their purchase, renters pointed to a familiar list of obstacles:
- High home prices – 84%
- Lack of savings for a down payment – 67%
- Rising interest rates – 61%
- Uncertainty about the economy – 51%
- Job or income uncertainty – 48%
Timing and fear also play a role. 40% are holding out for home prices to drop, while 32% are waiting for interest rates to fall. Nearly a third (31%) say they are afraid of buying at the wrong time. These responses suggest that market timing anxiety is keeping many would-be buyers frozen in place.
And yet, staying put has its own costs. 6 in 10 renters say they regret not buying a home sooner. Meanwhile, 84% say buying a home feels impossible in today's economy. It is a troubling paradox: renters feel stuck whether they act or wait.
Renting and Long-Term Wealth
The financial toll of renting is not lost on those living it. 76% of renters believe that renting prevents them from building long-term wealth compared to owning a home.
Unlike mortgage payments, rent builds no equity. Every month that passes is a month of potential appreciation and debt paydown that goes to a landlord instead of a personal balance sheet.
77% of Americans Believe Waiting to Buy a Home Has Financial Consequences
The concern about delayed homeownership is not limited to renters. Across all respondents, 77% believe waiting to buy a home carries real financial consequences.
When asked to identify what those consequences look like, respondents pointed most often to:
- Higher home prices over time – 77%
- Paying rising rent – 72%
- Higher interest rates – 59%
- Missing out on home equity growth – 54%
Respondents also flagged reduced buying power (31%), losing out on tax benefits (24%), and missing future loan opportunities such as a HELOC (15%) as financial costs of waiting to buy.
Housing Costs Are Rising Across the Board
The data makes clear that housing affordability is deteriorating for most Americans. 81% say their monthly rent or housing costs have increased over the past three years. 38% saw their costs rise between $100 and $299 per month. Another 16% saw increases between $300 and $499, and 1 in 10 saw increases of $500 or more per month.
These numbers add up fast. A $500 monthly increase translates to $6,000 more per year. Over five years, that is $30,000 in additional housing costs with nothing to show for it in terms of equity or ownership.
It is no surprise, then, that 68% of all respondents believe they would have saved money in the long run if they had purchased a home earlier.
Market Timing Confidence Is Low
Despite the pressure to act, most Americans do not feel equipped to time the market. More than half (53%) say they are not confident in their ability to time the housing market correctly. 38% say they are somewhat confident, and only 9% say they are very confident.
That uncertainty takes a real emotional toll. 1 in 4 Americans (25%) say they feel stressed or anxious about their housing situation often. When combined with those who feel that way sometimes (53%), the total rises to 78%.
Home Equity Knowledge Gaps Holding Back Future Buyers
Part of what makes this so challenging is that not everyone fully understands what they stand to gain from homeownership. While 37% say they are very familiar with the concept of building equity, 18% say they are not familiar with it at all. Another 45% describe themselves as only somewhat familiar with it.
That gap in financial literacy may be contributing to inaction. Of our respondents, 58% believe that long-term renters should receive some form of equity from renting, suggesting that many people feel the current system is unfair to those who cannot buy.
46% of Homeowners Wish They Had Bought a Home Sooner
For those who have already made the leap into homeownership, hindsight is 20/20. Nearly half (46%) of homeowners say they wish they had bought sooner. That regret comes after the fact, but it reinforces what renters fear: waiting has a cost.
What Finally Pushed Buyers to Act
Most homeowners rented for a meaningful stretch of time before buying. Nearly 4 in 10 (39%) rented for 2 to 5 years before purchasing. Another 24% rented for 5 to 10 years, and 17% waited more than a decade.
When they finally did buy, their motivations were largely tied to stability and financial growth. The top reasons homeowners chose to buy include:
- Need for stability and long-term housing security – 69%
- Desire to invest in their financial future – 58%
- Wanting to start building equity – 53%
- Tired of dealing with landlords and rental restrictions – 43%
- Rising rent costs made homeownership seem more affordable – 42%
For many, the tipping point was not a single factor but a combination of financial pressure and personal readiness. Nearly 27% said they acted out of fear of being priced out of the market if they waited any longer.
Most Buyers Did It Without Family Help
A common misconception is that homeownership is only accessible to those with financial support from family. In reality, 67% of homeowners in our survey said they received no financial help from family or friends when buying. Among the 33% who did receive help, assistance most often came in the form of down payment support (31%) or help with closing costs (9%).
Stop Waiting, Find the Right Home Today
Housing costs are rising, equity is being left on the table, and anxiety about homeownership is affecting the majority of Americans. The data makes it clear that most people understand the cost of waiting. What many need is a trusted partner to help them take the next step with confidence.
If you are ready to stop waiting and start building toward your future, Lombardo Homes is here to help. Contact us today to explore new home options and find the Michigan or Missouri community that is right for you.
Methodology
In May of 2026, we surveyed 1,005 Americans on their thoughts about the hidden costs of waiting to buy a home. Among respondents, 50% were male, 49% were female, and 1% were non-binary. 44% were renters, 47% were homeowners, and 9% listed “other” as their current housing situation. The age of respondents ranged from 18 to 81, with an average age of 39.
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Fair Use
When using this data and research, please attribute by linking to this study and citing Lombardo Homes.