Where do you see yourself in five years?

Another factor that buyers will often ignore when prices and interest are low is whether this house will still be a good idea several years down the road. If you or your spouse is a student or in a job that requires occasional relocation, you’ll have to think about whether your house will be an asset or a liability if you have to move within the next five years. Similarly, you have to consider how much house you need. If you fall in love with a tiny two bedroom bungalow but would love to have a large family, will the house still suit your purposes once you can hear the pitter-patter of little feet? Knowing generally what direction you’re heading will help you to decide if a house will really be a good place for you for the long term.

Ideally, buying a house should be an individual, personal and an investment decision. Buying a house is certainly an investment, but it is one you make emotionally and personally, as well as financially. So if the time is right for you, then it’s the right time to buy a house.

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