After, more than 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I strongly, believe, many factors should be considered, thoroughly, by, prospective, qualified, home buyers, before committing to purchasing, what, for most, is their single – biggest, financial asset! There are, at least, 6 significant factors, which, must be reviewed, before one proceeds, if he wishes to make the best – possible decision, for his personal situation, etc! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, these 6, and why they are essential considerations, if one, wishes, to proceed, wisely, and, in his personal, best interest!

1. Financial emphasis: Is this intended, to be, a financial, investment, and/ or, personal decision, and focus? How long do you intend, to live there? Do you, envision, the house, merely, as a starter – home, or, your place, for the foreseeable future? Are you, prepared, financially, for this big – step? Consider, not, only, qualifying for a mortgage, and associate, monthly responsibilities, but, will spending so much of your funds, on a down – payment, and closing costs, make you, house – rich, but, financially – stressed? Have you examined, your personal finances, at – present, and into the future? Know, why you are deciding to purchase, instead of rent! How might the local, national, international/ world economies, and factors, such as taxes, and other associated, costs of home ownership, impact you?

2. Home of Your Own (American Dream): How much is the so – called, American Dream, of owning a home, of your own, factoring – into, your actions, and perspectives? Are you considering, what might be, best, for you, or merely, trying to, Keep up with the Joneses?

3. School system: There is a delicate balance, between the quality of the local school system/ schools, and real estate taxes, in many instances! In most cases, prospective buyers, prefer areas, with quality schools, and, thus, these houses, are, most, in – demand! The key is to be aware, and pay attention, from the onset!

4. Area/ neighborhood/ region: What about a specific area, attracts you, and why? How about a specific neighborhood? Will you consider, the advantages and disadvantages of living, in this region?

5. Safety/ crime: Is the area, a safe one, with a relatively – low, crime rate? Carefully, study, and review, statistics, related to this, in – detail!

6. Your specific, home needs/ requirements: What are your personal needs, as opposed to wishes? Do you know and understand, both, your personal priorities, as opposed to needs? Don’t let, clever staging, and apparent, cosmetic considerations, to outweigh, the bones of a property! What can be kept, as – is (especially, in the shorter, to intermediate – term), as opposed, to immediately, needing repair, and renovation? When calculating costs, include, not only, the price of buying a house, but repair, renovation, and upgrade costs!

Are you prepared to make the wisest, personal decisions, when it comes to considering, buying a home, of your own? Will you be wise, or regret it, in the future?