When is the right time to buy a home?

Buying a home is a personal decision. There is never a “perfect” time to buy despite what news headlines and social media gossip may tell you. Sure, there are times that it may be easier to buy a home. However, the right time to buy a home is based on your individual circumstances. In general, buying a home is an investment in your future and has benefits that renting does not provide.

Each time you write a check to your landlord you will never see that money again.

When you pay a mortgage, you are investing in your future.

It would be misleading to say that everyone at anytime should buy a home. If that were the case, there would be no long-term rentals.

These major topics should be considered before making that decision.


One of the most important things to consider is budget. Many buyers are apprehensive to speak with a mortgage lender early in the process. However, establishing a general budget on what you are comfortable with and what you can qualify for is incredibly important. More often than not, a quick conversation can give you an idea of what is possible for you. We can connect you with lenders that would help you determine this.

Once you know what you can qualify for, we can help you determine what type of home you can purchase with your current buying power.

Length of time:

If you buy a home, the goal more than likely would be to own this home for several years. In general, it takes time for equity to grow in a home. Over time, you can earn equity that you will gain when you sell the home you purchase. This income can be used to purchase an upgraded home.

What if I move?

If you believe you will move in less than 5 years, it is smart to discuss the details of owning a long-term rental. Rather than selling the home that you own, there is always the option to rent. If this is a possibility, you will want to consider if the home you purchase would be and ideal long term rental. We can help you with these questions.


Do you have money saved for a rainy day? Repairs that may come up, etc.  If your savings is low, there may be options that allow for closing costs assistance. Sometimes, sellers will also cover closing costs. This is dependent on the market.

Owning your own home brings a sense of accomplishment, pride and will benefit you in the long run.

It can also be intimidating, stressful or even scary without the right team behind you.

We are here to discuss whether this is the right time for you. We can also help guide you with goals to set if you’re not quite ready yet!

Call Sunspot Realty today to discuss your home purchase. – 850-234-7151