The Real Cost of Waiting: Why Some Ottawa Buyers Are Regretting Sitting on the Sidelines
If you’ve been waiting for the perfect time to buy a home in Ottawa, you’re not alone. Many hopeful buyers have been sitting on the sidelines for months — sometimes years — trying to time the market, waiting for prices to drop or interest rates to stabilize. But in 2025, that hesitation might be costing you more than you think.
Let’s break down why waiting could be the most expensive mistake a buyer can make in today’s Ottawa market — and how to avoid it.
Ottawa Home Prices: What’s Actually Happening?
As of early 2025, Ottawa’s average home price hovers around $660,000 for all property types combined, with freehold homes pushing that number higher and condos pulling it down. After the market correction in 2022-2023, prices have been trending upward again — slowly but steadily.
Experts are projecting a 2–5% increase in average prices over the next 12 months as interest rates soften and buyer demand returns. That might not sound like much, but on a $660,000 home, that’s an extra $13,200–$33,000 by this time next year — and that doesn’t include the additional cost of borrowing if mortgage rates rise again.
Mortgage Rates in 2025: Why “Waiting for Lower Rates” Might Backfire
Yes, interest rates are starting to ease slightly after hitting a peak in 2023. But many buyers are basing their decisions on the assumption that rates will drop significantly — and quickly. The reality? Canada’s central bank is taking a slow and cautious approach to rate cuts, and the market already has many of those expected drops priced in.
Waiting for rates to drop even more might result in:
Higher home prices offsetting your savings
More buyers re-entering the market and increasing competition
Tighter inventory and faster bidding wars — especially in popular areas like Westboro, the Glebe, and Alta Vista
Real Math: What Does Waiting Actually Cost?
Let’s say you want to buy a $660,000 home with a 10% down payment and a 5-year fixed rate at 5.19%:
Buy now:
Down payment: $66,000
Mortgage amount: $594,000
Monthly mortgage (25-year amortization): ~$3,546
Buy next year (at 3% price increase):
New price: $679,800
New down payment (10%): $67,980
Mortgage amount: $611,820
Monthly mortgage (if rates rise slightly): ~$3,698
That’s an extra $1,980 upfront and $1,824 per year in increased mortgage payments — and that’s being conservative.
If prices jump 5% and rates go up even slightly, your annual cost could rise by $4,000 or more.
Ottawa Inventory: The Quiet Crisis Behind the Scenes
Inventory levels in Ottawa remain tight, especially for single-family homes in established neighbourhoods and family-friendly suburbs. With limited new construction, rising immigration, and fewer homeowners listing properties due to mortgage “rate lock,” the supply crunch isn’t going anywhere fast.
Waiting for more options could mean waiting forever — or settling for less. We’re seeing a growing number of buyers missing out on homes they loved because they weren’t ready to act quickly.
The Emotional and Lifestyle Cost of Waiting
Let’s not forget: your life is happening right now. Every month you wait:
You’re continuing to rent or live in a space that no longer fits
You may be missing out on building equity
Your monthly payments are going toward someone else’s investment, not yours
You’re putting your goals — whether it’s starting a family, getting a dog, or simply having your own space — on hold
There’s no “perfect” time to buy. But there is a smart time — and that time is often sooner than you think.
How to Buy Smarter, Not Later
If you’re feeling cautious, that’s normal. But here’s how you can move forward confidently:
Get pre-approved now so you know your budget and can lock in today’s rate
Work with a local expert (hi — that’s us!) who knows how to spot the best-value homes in each neighbourhood
Understand your non-negotiables vs. your nice-to-haves so you can move quickly when a good fit comes along
Explore off-market opportunities — at New Purveyors, we often have access to listings you won’t find on REALTOR.ca yet
Bottom line? The longer you wait, the more you might pay — not just in dollars, but in lost time, opportunity, and lifestyle. Ottawa’s real estate market is shifting in favour of the ready. If you’ve been sitting on the fence, now might be the time to jump in.
Let’s talk about your goals and make a plan that works for you — whether you're ready to buy next week or three months from now.
