A few items to consider

1. Your Financial Readiness

Budget

•  Determine what you can comfortably afford monthly (mortgage, taxes, insurance).            Use “total monthly housing cost,” not just the mortgage payment.

Upfront Costs

•  Down payment (typically 3–20% depending on loan type)

• Closing costs (2–5% of purchase price).

•  Moving costs + initial repairs or furnishings.
  Credit + Debt

•  Your credit score affects mortgage rates.

•  Keep your debt-to-income ratio below ~36–43%.
  2. Mortgage + Loan Options

•  Fixed-rate vs. adjustable-rate (ARM): Fixed offers stability; ARM starts lower but can rise.

•  Loan types: Conventional, FHA, VA, USDA—each has advantages depending on income, credit, and location.

•  Pre-approval: Get one before shopping so you know your real price range.

3. Location

Neighborhood Factors

•  School district (important even if you don't have kids—it affects resale value).

•  Crime rates and safety.

•  Access to work, transportation, shopping, parks, and healthcare.
  Future Development

•  Planned construction, zoning changes, or new infrastructure can raise or lower long-term value.
  4. The Property Itself

Condition

•  Age of major systems: roof, HVAC, plumbing, electrical, windows, and foundation.

•  Quality of construction and any signs of DIY or substandard work.
  Layout & Size

•  Number of bedrooms/bathrooms.

•  Storage and parking.

•  Flow and natural light.

•  Long-term needs (kids? WFH office? aging parents?).
  Lot & Exterior

•  Yard size, privacy.

• Drainage, landscaping.

• HOA rules (if applicable).
  5. Inspection & Appraisal

•  Always get a home inspection — uncover hidden issues (mold, foundation, termites).

•  Appraisal ensures the home is worth what you're paying, required by lenders.
  6. Long-Term Costs

•  Property taxes (and how fast they rise in your area).

•  Homeowners insurance + flood or fire insurance if needed.

•  HOA fees.

•  Maintenance (rule of thumb: 1–3% of home value per year).
  7. Resale Value

• Even if you plan to stay long-term:

•  Home in a strong school district.

•  Good location near jobs and amenities.

•  Functional layout (weird layouts hurt value).

•  Avoid major “deal breakers” (no parking, steep hills, busy roads, odd smells, etc.).
  8. Lifestyle Fit

•  Commute time.

•  Noise level.

•  Community vibe.

•  Proximity to friends/family.

•  Plans (kids, job changes, renting out part of the home).
  9. Market Conditions

•  Are interest rates rising or falling?

•  Is it a buyer’s or seller’s market?

•  How long do homes stay on the market in your area?
  10. The Emotional Factor

• Don’t ignore it—can you see yourself living there happily?
    But don’t let excitement override:

•  Budget realities.

• Home Inspection findings.

•  Resale considerations.