Free Ribs Tomorrow: Why waiting for the “perfect time” to buy real estate costs you
When I was in high school, I worked at a BBQ restaurant in Austin called “The County Line”. When guests left, they’d grab free mints at the door with these words printed on the wrapper: “Free Ribs Tomorrow”. If someone returned the next day and asked for free ribs, the staff would point out that it says “tomorrow.” Tomorrow is ALWAYS not today. Sound familiar? That’s exactly what I see people doing with real estate.
They’re waiting for a tomorrow that keeps moving further away. While strategy is crucial in real estate, some people remain indefinitely stuck in the “tomorrow” mentality. Waiting for the “right time” may last a lifetime.
Here are some of the guarantees I see people waiting for:
• Future prices will be lower
• Interest rates will drop
• Life circumstances will be more stable
• The “perfect” property will appear
• NYC will stop changing (my response: “If you’re waiting for that, see you in 30 years”)
▶️ So when IS the right time to buy?
I get that question constantly. Honestly? It depends. Not everyone should buy- especially in NYC, where two-thirds rent. It’s expensive, transient, and renting genuinely makes sense for many people.
But here’s what I’ve noticed: When someone asks “when should I buy?” they’re really asking:
▶️ “Will buying something NOW keep me from getting what I really want LATER?”
They think they can’t afford their forever home yet. They want to save more. But here’s the math they’re missing: The amount they save year over year is often dwarfed by home price increases during that same time.
Which leads to one of my favorite strategies:
▶️ Buy the ugly house now so you can afford the dream house sooner.
In an economy where prices typically rise, getting in now, even if it’s not perfect, builds equity that gets you closer to what you actually want.
▶️ And let’s talk about what you’re comparing.
NYC rent is at an all-time high. You can’t just look at mortgage payments. Compare ownership costs to what you’re already paying in rent—money building someone else’s equity, not yours.
▶️ The other thing I hear?
“There’s so much change in the city… maybe I should wait.”
Here’s the truth: There’s NEVER a time without major change in NYC (or most cities). If you’re waiting for stability and certainty, you might be waiting 30 years. And even then? There will still be change.
▶️ When IS the right time to buy?
When you stop waiting for perfect and start planning for possible.
When you can answer these clearly:
• What am I trying to accomplish?
• Can I afford to stay for at least a few years?
• Am I comparing ownership costs to rental costs?
• Is my timeline based on MY goals—or on fear?
The right time isn’t about the market. It’s about whether YOU are ready to move forward with intention instead of waiting for guarantees that don’t exist.
Those free ribs? Still available tomorrow. But tomorrow never comes.
What’s YOUR actual timeline?