1. Personal needs, goals, priorities:  Ask yourself: Why do you want to buy a home? What about a particular home attracts you? What are your needs; bedrooms, baths, and how many would you prefer, and why? What do you desire in your kitchen, and why, and what do you actually, need? Are you able to look past the condition, good or bad, to determine the difference between quality, and perceptions?


2. Comfort zone: Sit back and look, objectively, so you can determine why you want a home and what you can comfortably afford. You don’t want to end up "house rich and cash poor" and added stress in your life!  A wise home buyer, finds a house which exceeds their needs, meets some of their wants, and does so without excess stress, or hassle!

3. Personal finances: Do you know, what you can afford? Speaking with a mortgage professional at the onset of your purchase process will be very beneficial.  A mortgage lender can prequalify you and address the best mortgage program; down payment, interest rate, and term; based on your specific situation.

4. When matters!: Certain factors are extremely important. What are the present mortgage interest rates, and how large, a mortgage will you need? Understand that small changes in these rates can matter!  What about the supply and demand?  Ask your Realtor about the available inventory and if they see prices rising or decreasing.  In our market rental income is important... find out what time of the year makes the best sense to close so that you can receive a majority of the rents.  

Be a smart home buyer. It’s not about trying to buy at the perfect time because there really is no perfect time and timing is different for everyone.  Determine what you need, what a reasonable contract price would be, discover something you’re happy with, and be able to afford it!