Should You Buy a House? Key Factors to Consider

by Patrice Phillips 09/29/2019

Purchasing a home is a life-changing decision. As such, it is important to consider a variety of factors as you decide whether to pursue a residence, and these factors include:

1. Your Finances

Although you may want to buy a house as soon as possible, it is paramount to have your finances in order before you launch a home search. That way, you can avoid the risk of trying to spend beyond your means to purchase a residence.

Oftentimes, it helps to meet with banks and credit unions before you embark on a home search. These financial institutions can teach you about home financing and explain how mortgages work. Plus, they can help you get pre-approved for a mortgage so you can enter the housing market with a budget in hand.

2. Your Short- and Long-Term Goals

Consider your short- and long-term aspirations before you launch a home search – you will be happy you did. If you analyze your goals, you can see how buying a home helps or hinders your ability to accomplish these aspirations.

For example, if you want to work in a particular city, you may want to pursue homes in or near this city. This will eventually allow you to enjoy convenient access to a job in the city of your choice.

On the other hand, if you want to start a family soon, you may want to consider buying a house that offers immediate access to top schools and parks. You also may want to search for a home that offers a spacious backyard and other family-friendly amenities.

3. Your Family and Friends

If you want to reside close to family and friends, you can map out your house search accordingly. Houses are available in cities and towns nationwide. As a result, you should have no trouble finding a great residence near family and friends any time you decide to launch a home search.

For those who are ready to start a home search, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can quickly and effortlessly conduct an in-depth house search.

A real estate agent understands what it takes to search for houses in any city or town. First, he or she learns about a buyer's expectations and establishes a personalized homebuying strategy. A real estate agent next helps a buyer search for houses in his or her preferred cities and towns. This housing market professional then sets up home showings and keeps a buyer up to date about open house events. And if a buyer wants to submit an offer to purchase a house, a real estate agent will help him or her do just that.

The homebuying journey sometimes is complicated, but people who consider the aforementioned factors may be better equipped than ever before to determine if now is a good time to purchase a house. And if an individual decides to launch a home search, he or she can work with a real estate agent to achieve the best-possible results.

About the Author
Author

Patrice Phillips

Over 25 years experience in Real Estate investment, management, and sales in the Bay area, Mendocino and Sonoma Counties.

Buying or selling a property is an emotional experience. It can be exciting, frightening, sentimental, stressful, a wonderful threshold to a new chapter. My background is financial, with a BS in Accounting and a career in Financial Planning. I can help make sense of the numbers.

I love working in Real Estate and it shows in my devotion to my clients. You can look forward to individualized, informed, professional service whether buying your first home, an investment property or selling.

Here's what my clients have said about me.

 07/22/2018 - easyryder 

 Patrice is extremely knowledgable and very generous with her time, not to mention a very nice lady. She really helped us understand the market today along the coast where we were looking. 

 07/20/2018 - aprille 

 Patrice was a pleasure to work with! She was very knowledgeable and patient with me during my real estate buying process. She provided clarity when it was requested and was always available via email, text or phone. Her upbeat and cheerful attitude was a breath of fresh air.