P
roperty Brothers Jonathan and Drew Scott emphasize the importance of careful consideration when investing in real estate, despite its potential for wealth growth. At a recent CNBC Your Money event, Jonathan stressed that homeownership can be a good investment, but it's crucial to invest on one's own timeline.

    "Don't let emotions dictate your decision," Jonathan advised. "Waiting a few years and getting your finances in order is better than rushing into a property out of desperation." This sentiment is echoed by a recent survey from Clever, which found that 82% of people who bought homes in 2023 or 2024 have at least one regret.

    Before buying a home, it's essential to accept that timing the market may not always deliver the best results. Finding a home within your budget and securing a good mortgage rate depends on both your financial situation and the broader economy. Jonathan notes that investing in real estate is "not rocket science," but rather about budgeting and making smart decisions.

    To achieve this, you'll need to make significant adjustments, such as saving for a 20% down payment or living with roommates to boost your income. You should also ensure your credit is in good standing before starting your search. When looking for a home, be realistic about what you can afford and be prepared to make compromises on location, size, or amenities.

    The Scott brothers agree that entering the real estate market now is challenging due to rising home prices and mortgage rates. To overcome this, Jonathan suggests exploring creative options like buying with friends or family members.