James Granat Real Estate

It’s the question every prospective homebuyer in Orange County is asking: Should I buy now, or wait? For most buyers with a stable income and a 3–5 year horizon, yes, now is a reasonable time to buy in Orange County. Here’s why — and what the caveats are.

Why Waiting Often Costs More

The instinct to “wait for the market to drop” sounds smart, but Orange County has a structural housing shortage that keeps a floor under prices. The land that could support large-scale new development simply doesn’t exist along the coast. Over every 5–10 year period in OC history, prices have trended up.

More importantly, while you’re waiting, you’re paying rent — typically $2,500–$4,500/month for a 2–3 bedroom in Costa Mesa or Newport Beach. That’s $30K–$54K per year with zero equity building. Meanwhile, a homeowner is paying down principal and capturing any appreciation.

The math rarely works in favor of waiting indefinitely, especially in a supply-constrained coastal market.

When Does It Make Sense to Wait?

Buying right now doesn’t make sense for everyone. You should probably wait if:

• Your income or employment isn’t stable
• You expect to move within 2–3 years (transaction costs eat returns)
• You haven’t saved enough for a down payment and reserves
• You’re stretching to the absolute limit of your budget

The Rate Refinancing Strategy

One of the most common approaches in 2026: “marry the house, date the rate.” The idea is to buy the home you want now — when you have more inventory to choose from and less competition — and refinance into a lower rate later if rates fall. This strategy has merit, but requires you to comfortably afford the payments at today’s rates. Don’t buy assuming a refinance will bail you out.

Making the Right Move for You

James Granat is a licensed Realtor® serving Costa Mesa, Newport Beach, and all of Orange County. Whether you’re ready to make an offer or just starting to research, reach out for a no-pressure conversation: (949) 933-9511 or jamesgranat@anvilreinc.com.