You have 2 choices. DO or DO NOT.

But you should TRY.

You might not be able to afford the home you want right now. Interest rates and the amount that you qualify for might be holding you back.

Say you DO go ahead and buy real estate right now.

There are three reasons this could work out in your favor:

1. Prices are negotiable right now because we have less demand.

2. The price you pay today remains the price. The monthly mortgage payment changes based on interest rates and principal owing. You can stay locked in on a rate or choose a shorter term higher rate in the hopes of moving into a lower rate later.

3. Buying at a lower point in the market means you are better positioned to gain equity. This equity will give you a chance to buy something that better fits exactly what you want later. A step in the right direction leads to another step in the right direction.

Now say you DO NOT.

Here are three reasons it could work against you:

1. When interest rates go down there'll be more people willing and able to buy. You'll get to compete with them.

2. Paying a higher price later means you miss out on equity building that buying low makes possible.

3. If you can't afford what you want today, what are the chances that when prices rise, you'll be able to afford it then?

So there you have it - DO or DO NOT. But if you Don’t, you probably Won’t.