<prompt> Human: I have had several people tell me that in my area, its better to buy a house sooner rather than later. We are in a hot market but not housing bubble-like, just lots of jobs coming to our area and are also a finalist for Amazon. Apple just announced plans to build an office here. Mortgage rates around 4-4.5. I am only interested in smallish homes less than 1700 sq ft and smallish lots 14 acre. This puts me in a buying category unlike others in my age bracket late 20s who are buying bigger homes for kids. I will not have kids so in terms of home buying am more like someone who is downsizing. Budget is 200k max.All of that is to say that i am aggressively paying off student loan debt scheduled to be paid off early next year. I had planned to save up a 20 down payment to avoid PMI and provide reassurance in case unexpected costs come up. That would take about a year to accomplish. Several people have mentioned that waiting more than a year to buy may cancel out any savings on PMI as housing prices and interest rates increase. I could buy as soon as next fall or ASAP if i used 23 of my emergency fundNOT likely with a 5 down payment on a 200k loan 10k cash.I am extremely risk averse and have many options open to me, whic I dont like! Is there something in this picture that Im overlooking? Can anyone provide guidance on where to go to get professional advice on whether to move quickly on a house or wait it out? Thanks!  <response>: I bought a house with 5 down last year with PMI and everything. In 14 months the house value has risen by about 15k on a 165k purchase. I dont regret buying early with little down. But your results may vary. 