Buying a house is a big, risky move. There are a lot of emotions and reasons related to it like anxiety, excitement, and a chance to start over. But while getting a new abode has its fill of sentiments, the money factor is something that one should not take lightly, since most homebuyers purchase a house on a mortgage. So when is the right time to purchase a house?

A lot of real estate professionals and advisors offer counsel on when is a good (or bad) time to purchase a new house. Though most of their views vary at certain points, they do agree on some. One of the most asked questions by advisors and realtors to house seekers is: “Can you afford it?”

Such question is an eye-opener to those who want to get their own home. The question gives them the whole picture of their financial status, whether or not they can keep up with the payments and have a faster financial recovery. Simply put, if one’s wallet and lifestyle can’t meet the expenses, then it’s not time to buy a house yet. In short, financial stability should be a major factor. Even if a house may be just a “bit” above one’s price range, even if it has all the features every average person wants, wait until you are fully able to afford it.

A homebuyer must know where his finances and desires intersect. At such point, one must know when his finances can bend and when it will break. If one confidently feels that he can purchase a home, that’s the right time to get one.

Find more real estate resources on the World of Real Estate.

You can find real estate and marketing expert Dennis Tamburo on Classmates.com.

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This entry was posted on Tuesday, February 3rd, 2009 at 1:07 am and is filed under Investing Your Money, Real Estate Hall, Universe Of Home Improvement. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.