Interest rate development current situation. Build now or wait?

Hello,

we are currently concerned with the following questions:
Should we build / buy now?
Or should we rather wait and save more equity?
How are the prices developing?
A brief introduction about us:
- both 29 years old & 1 child
- both employed
We actually don't have any really noteworthy equity, if I compare it here. My husband only finished his further education 1.5 years ago. However, despite my parental leave in 2020, we were still able to save an additional 10k. Currently, prices are rising rapidly for us and we are afraid that we will regret it in 2 years. So far, prices here are "low" compared to other federal states.
Our family now advises us to wait. Soon there might be more properties on the market again and thus lower prices. Please don't get me wrong. We are certainly not sitting at home enjoying others' misfortune or even hoping for it. We feel very sorry about the current situation and absolutely nobody do I wish to lose their own home. But of course this thought influences us.
How do you assess the current market situation and its development?

Best regards

I think it will remain tense over the next few [time period]. No one knows for sure. Of course, you can also buy/build something without equity. It is currently easier than ever thanks to the low interest rates. Everything else then depends on the amount of income and the prices in the region. You could make an appointment with a bank or broker to find out your maximum loan amount, and then compare that with the prices on the common portals. Then you will know where you stand.

Who can answer the question is not reading here.

Now the family is advising us to wait. Soon there might be more properties on the market again and thus lower prices.

I would not plan my life from the outside in. Life is too short to wait. Don’t get me wrong!

We actually don’t have really noteworthy equity if I compare it here. My husband only finished his further training 1.5 years ago.

Equity is part of owning a home. In my opinion. There are reasons why it works earlier for some and later for others. One earns less, so it takes longer, another can only start saving or preparing for a home later. Then that’s just how it is. One earns less, so it will be a used property, maybe with a lot of renovation, another wants new and can afford it, also big. Make sure you save, go to a financial advisor... And then save, those are steps in one direction. The direction can also change. But waiting because someone else says it will be cheaper someday, I think that’s wrong. That is stagnation. At some point you stand there and look back on a life because there was never the right time.

Soon there might be more real estate on the market again and thus lower prices.

Sorry, that is a somewhat naive thought. The likelihood of that happening is probably much lower than it is for the opposite to occur.

and when more houses come onto the market again through foreclosures etc., you also have to "get up early," "have connections," and be "decisive." And even if the "supply" increases again - the buyers (the "bargain vultures") have long been circling...

Best to start planning the dream house already. Do both in parallel: a) Build b) Buy. If b) takes too long to come along, then do a). If during the planning of a) a b) appears on the horizon: vulture dive!