The Real Reason Most People Don't Buy a Home (And Why It Might Not Apply to You)

By Josue Ruiz | Ruiz Realty Group | realtorforvirginia.com

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In 18 years of working with buyers across Woodbridge and Prince William County, I've heard every reason people give for not buying a home yet. Some of those reasons are legitimate. Many are based on assumptions that turn out not to be true once we actually run the numbers. Here are the most common ones I hear — and an honest look at each.

"I Don't Have Enough for a Down Payment"

This is the most common misconception I encounter, and it stops more buyers than any market condition ever has. The idea that you need 20% down to buy a home is outdated. FHA loans allow down payments as low as 3.5%. Conventional loans can go as low as 3% for qualifying buyers. VA loans, available to eligible service members and veterans — a significant portion of the population in Prince William County given our proximity to Quantico and Fort Belvoir — require zero down payment.

Virginia Housing also offers down payment assistance programs specifically for first-time buyers in the state. The real question isn't whether you have 20% — it's whether you've actually spoken to a lender about what you qualify for. Most buyers who think they can't afford to buy haven't had that conversation yet.

"The Market Is Too Competitive"

This was more true in 2021 than it is today. Inventory in Prince William County has risen 21% year-over-year as of June 2026, reaching a five-year high. Average days on market have increased. The frantic bidding wars of the pandemic years have largely subsided for most price points. Buyers who dismissed the market two years ago because it felt impossible are discovering that conditions have shifted meaningfully in their direction.

"I'm Waiting for Rates to Come Down"

Rates have moved, but not predictably, and waiting for a specific rate before buying is a strategy that has cost a lot of would-be buyers real money in the form of rent paid and appreciation missed. The more useful approach is to understand what you can afford at today's rates, factor in that you can refinance if rates drop meaningfully in the future, and make a decision based on your actual financial situation rather than a bet on where rates go next.

"My Credit Isn't Good Enough"

Credit requirements vary significantly by loan type. FHA loans are accessible to buyers with credit scores in the mid-600s. VA loans have their own underwriting standards. And if your credit does need work, starting a relationship with a lender now gives you a clear roadmap for where you need to be and how long it will realistically take to get there — often less time than people assume.

"It's Not the Right Time in My Life"

This is the one that's sometimes true and sometimes just fear wearing a practical hat. Homeownership makes sense when you're planning to stay somewhere for at least three to five years and when the monthly cost of owning is comparable to or better than renting in the same area. For many people in Prince William County, both of those conditions are already met — they just haven't run the numbers yet.

The only way to know whether buying makes sense for your specific situation is to have a real conversation about your specific numbers.

Learn more at realtorforvirginia.com

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Josue Ruiz is a licensed real estate agent and founder of Ruiz Realty Group, serving homebuyers and sellers throughout Woodbridge, Prince William County, and Northern Virginia. With 18+ years of local experience and over 350 closed transactions, he provides honest, data-driven guidance to help clients make confident decisions.