Why Waiting to Buy in Hudson County Could Cost You More Than You Think

If you’ve been watching the real estate market in Hudson County and telling yourself, “I’ll just wait a little longer…”—you’re not alone.

Waiting to buy is one of the most common instincts we see from would-be homeowners. It’s also one of the most misunderstood.

Because while it’s easy to assume that waiting will save you money—or that the market will “cool off” in your favor—the reality is often the opposite.

In competitive markets like Hoboken, Jersey City, Weehawken, and Union City, waiting to buy can come with a long list of hidden costs—some financial, some emotional, and some tied to opportunity loss that’s hard to quantify until it’s too late.

If you’re asking yourself “Should I wait to buy in NJ?”, let’s take a closer look at what waiting might really cost you in today’s market.

1. Hudson County Prices Are Still Climbing—Just Quieter

The media loves to talk about market slowdowns, but here’s what we’re actually seeing on the ground: homes are still appreciating steadily, especially in neighborhoods with walkability, transit access, and high demand.

The feeding frenzy of 2021 may have calmed, but that doesn’t mean prices are dropping across the board. In fact, in many areas of Hudson County, we’ve seen consistent 3–5% annual growth—even in what some would call a “correcting” market.

That means a $750,000 condo in Jersey City Heights or Weehawken could easily cost $775K–$790K next year—or more if demand ramps up. Meanwhile, interest rates may or may not move in your favor.

When you do the math, waiting just one year could price you out of the neighborhood you’re targeting.

2. Mortgage Rates Change Daily—But Timing Them Perfectly is Nearly Impossible

Let’s talk rates. We know they’re on your mind.

Mortgage rates have been all over the place recently, and buyers are understandably hesitant to lock in a rate they feel might drop in the near future. But here’s the thing: no one can consistently predict when rates will rise or fall. Not even the experts.

What we do know:

• Rates are still historically average (yes, really).

• If they drop significantly, buyer demand will likely surge—bringing more competition and higher home prices.

• If they don’t drop and prices rise? You’re losing on both fronts.

Here’s our advice: focus on what you can afford now, and know that refinancing is always an option down the road. But buying at today’s price locks in your home—and your future equity—while waiting leaves that door wide open.

3. You're Losing Money to Rent in the Meantime

This one’s big. Rent in Hoboken, Jersey City, and Union City is no joke.

Let’s say you’re paying $3,200/month for a rental in Jersey City. That’s nearly $40,000 a year that’s going straight to your landlord’s pocket—not to building equity in your own property.

Meanwhile, homeownership in Hudson County gives you the opportunity to build wealth over time. That $750K property we mentioned earlier? Even with modest 4% appreciation, it’ll be worth over $30,000 more in just one year. And you’ll have started paying down your loan at the same time.

In other words, owning means paying yourself, while renting means helping someone else build their net worth.

4. Inventory Is Low—And That’s Not Changing Overnight

One of the most important things to understand about Hudson County real estate? We don’t have a lot of new homes hitting the market.

Limited space, limited new development, and high demand all add up to one thing: inventory is tight, and buyers are often competing over a small pool of well-priced, well-located homes.

Even in a slower market, the good stuff sells fast—especially in places like:

• Downtown Jersey City

• Hoboken’s west side and uptown

• Union City’s “cliffside” properties

• Weehawken with skyline views

If you wait too long to make a move, your ideal layout, neighborhood, or price point could disappear before you even schedule a showing.

5. You Can’t “Time the Market”—But You Can Beat the Crowd

There’s a reason even seasoned investors don’t try to time the real estate market perfectly: it rarely works.

Instead, smart buyers focus on what they can control:

• Their budget and pre-approval

• Their neighborhood preferences

• Their long-term goals

If you plan to stay in your home for 3–5 years or longer, the day-to-day market swings don’t matter as much as locking in a home that fits your life and grows your wealth.

By buying before rates fall or demand spikes again, you can often avoid bidding wars and overpriced homes. Think of it as entering before the crowd rushes the stage.

6. Equity Growth Starts the Day You Close

Let’s talk equity.

Every month you wait to buy is a month you’re missing out on building it. Not just because you’re not paying down a mortgage, but because your future home is likely increasing in value without you.

It’s one of the most frustrating and under-discussed realities of waiting: the longer you delay, the more expensive your exact same home becomes.

You may think you’re waiting for a “better deal”—but in a market like Hudson County, the best deals are the ones that let you start building equity now, not later.

So… Should You Wait to Buy in Hudson County?

If you're not financially ready—then yes, it may make sense to hold off. We’ll never push someone who isn’t truly prepared.

But if you’ve been pre-approved, if you’ve been watching homes online, if you’ve walked through a few open houses and started picturing your furniture in the living room... then the cost of waiting might be higher than you think.

Whether it’s your first condo in Hoboken, a two-family in Union City, or your dream home with skyline views in Weehawken, there’s real value in getting ahead of the market.

Ready to Stop Watching from the Sidelines?

At The Jill Biggs Group, we help buyers like you navigate the Hudson County real estate market with zero pressure and total clarity. Our team will break down your options, connect you with the right local lenders, and help you find a home that fits your budget, your lifestyle, and your future.

📞 Call or text Jill at 973-495-6038

About Us
The Jill Biggs Group is the #1 real estate team in Hudson County and one of the top Coldwell Banker teams in the country. We specialize in helping buyers, sellers, and investors succeed in Hoboken, Jersey City, Weehawken, Union City, and across Northern New Jersey.