3 Questions to Ask If You Want to Buy Your Dream Home

3 Questions to Ask If You Want to Buy Your Dream Home | Simplifying The Market

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a home in the first place? 

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. They are:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in December (the latest data available) was $232,200, up 4.0% from last year. This increase also marks the 58th consecutive month with year-over-year gains.

If we look at the numbers year over year, CoreLogic forecasted a rise by 4.7% from December 2016 to December 2017. On a home that costs $250,000 today, that same home will cost you an additional $11,750 if you wait until next year.

What does that mean to you?

Simply put, with prices increasing each month, it might cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), the National Association of Realtors, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:

3 Questions to Ask If You Want to Buy Your Dream Home | Simplifying The Market

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.  Give me a call for some professional advice – J.P. Cook – 602-320-4253.

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36700 N Lone Eagle Point Carefree, AZ 85377

$6,600,000
5 Beds
6.5 Baths
6,435 SqFt
Status Active
MLS # 6771399
Property Type Single Family Residence
Price Type --
Majestic hillside masterpiece, with endless views of the mountains and city lights below of Scottsdale and Carefree! Upon entering this custom home, you are immediately at one with the layout, interior finishes, and amazing views. Perfectly sited on 2.7 acres, blending naturally with the massive boulders, the Sonoran Desert, and offering privacy and views in every direction. The unique crescent shape of this home resulted from an extremely narrow buildable area and the steep incline of Black Mountain. The home was designed & built using sophisticated and expensive commercial building techniques, with natural masonry and steel framing that minimized site disturbance. The foundation is actually integrated with the granite boulders & bedrock that is unique to the East side of Black Mountain. Carefully chosen natural cut stone, color-matched stucco, and patina copper enable the home to truly blend with the boulder-laden landscape. Careful use of eco-friendly sustainable materials such as bamboo wood floors laid over a cork substrate for a durable surface that eliminates any sensory disturbing echo within. Low level VOC paint and LED lighting compliment the many other eco-conscience decisions that went into building this home. As with any well planned and technically difficult project, this one-of-a-kind custom home took numerous years to build, and it would be impossible to build today for this offering price. There will never be another one like it, and it can truly be a legacy home passed through generations!

7451 N Las Brisas Lane Paradise Valley, AZ 85253

$6,600,000 - 6Br/8Ba -  for Sale in Montana De Bonitas Casas Replat, Paradise Valley
New
$6,600,000
6 Beds
7.5 Baths
8,540 SqFt
Status Active
MLS # 6785821
Property Type Single Family Residence
Price Type --
This transitional contemporary home is discreet and understated from the road. Once through the door you're greeted with a collection of exotic woods, stonework, and a high level of craftsmanship and quality. This home has a level of sophistication that is rarely seen. It was designed with the luxury of convenience in mind. It's equipped to enable different activities and uses through the home with separation and privacy. It's not a single large box room. Its different rooms allow more specific functions while creating an intimacy throughout. An office with some of the best woodwork you've seen, a fully equipped theater, an 1800 bottle wine room adjoining a handcrafted bar, a master suite on it's own level with an exercise room, its own laundry, deck, and 2 beautiful and detailed closets Three wet bars, a main kitchen, an exterior kitchen, and a guest house kitchen. Four laundry rooms. Three elevators. Multiple patios and decks. A large temperature controlled four car garage in the main home, and a two car garage in the guest house. The 2 bedroom 2 bathroom guest house is separate and apart from the main residence. The home's infrastructure and mechanical systems are equally as impressive as it's visual design and functionality. The home has a water pressure system that maintains constant needed pressure throughout the home, regardless of the number of locations calling for water at the same time. The home is set on the side of Mummy Mountain, and enjoys the exterior mountain views, while allowing it's residents the ease of access to anywhere on the interior with the option of any of its' three elevators. This home is so dignifiedly understated from the street, and so sophisticated on the inside, that it may be the residential representative of, Speak softly and carry a big stick.

6018 N Saguaro Road Paradise Valley, AZ 85253

$6,599,000
5 Beds
7 Baths
7,193 SqFt
Status Active
MLS # 6780828
Property Type Single Family Residence
Price Type --
Nestled in a quiet cul-de-sac of only four homes, this charming Santa Barbara-style transitional residence offers timeless charm, tasteful updates, captivating views of Camelback Mountain and lushly landscaped grounds that are truly an oasis in the desert. The exceptional single level floorplan features 6,467 square feet in the main home with 4 ensuite bedrooms, 6 bathrooms, an office, a generous sitting room off of the primary bedroom, a fitness room, refrigerated wine room, and a 726 sq ft separate guest house. The privately gated driveway provides abundant room for parking in addition to the side-entry 4 car garage. A paver stone walkway leads the way to the home's inviting front entrance. Inside, a striking chandelier adorns the entry foyer, which overlooks the living room with a dramatic floor-to-ceiling chevron pattern stone tile fireplace, wood plank ceiling, and views of the lush backyard. The spacious kitchen is equipped with stainless steel appliances, stone countertops, a large center island, walk-in pantry, and a generous casual dining area. The kitchen flows into the large family room, which is perfect for both relaxing and hosting friends, with gorgeous outdoor views, a corner fireplace, a seated custom wet bar, and a refrigerated wine room with a modern mix of metal, glass and wood. You will love unwinding in the primary bedroom wing of the home. Picture windows frame the view of Camelback Mountain in both the primary bedroom as well as the adjacent sitting room, which is well-appointed with a fireplace and wet bar. The spa-like primary bath offers marble floors, dual vanities, a makeup counter, a walk through shower, a roman tub set in front of a stacked stone fireplace, and an exterior door that opens to a private gated courtyard that encloses a built-in spa. An oversized custom closet and a fitness room complete the primary suite. Adjacent to the primary suite, an executive office with built in shelving and a wood beamed ceiling overlooks the manicured front yard and includes a wet bar, private powder room, and a large walk in closet. On the opposite side of the home, three spacious guest bedrooms each have their own ensuite bathrooms and walk-in closets, ensuring privacy and comfort for all. The 726 square foot guest house, complete with a full kitchen, family room with fireplace, bedroom and bathroom, and its own covered patio, is a comfortable retreat for guests or extended family. Outside, the backyard is an enchanted garden, with mature trees and abundant foliage set against the backdrop of Camelback Mountain. A brick walking path lined with rose bushes and lush hedges traverses the yard from one side to the other. An expansive grassy play area, approximately 90 feet long, offers endless possibilities for outdoor fun. An enormous resort-worthy pool area with multiple water features is positioned perfectly to take in the view of Camelback. A deep covered patio with Chicago brick pavers provides ample room for dining and lounging, and offers a built-in barbeque and pizza oven. Just off of the covered patio is a large gas firepit with plenty of room for guests to gather around on a cool desert evening. This special property is conveniently located within minutes to Scottsdale Rd, Camelback Corridor, unlimited shopping and dining options, golf, and Paradise Valley's finest resorts and spas.

Sedona AZ 86336

$6,500,000
4 Beds
6 Baths
8,627 SqFt
Status Active
MLS # 6596238
Property Type Single Family Residence
Price Type --
Indulge in luxury and tranquility backdropped by panoramic Red Rock Views at 130 Hidden Meadow Drive. An iconic Sedona Haven, ideally situated on an elevated 1.71-acre lot backing to National Forest and residing in the prestigious neighborhood of Solitude at Seven Canyons. Tucked behind the two gates, this European Villa-style estate offers a private and secluded oasis simply a step above the rest. Meticulously crafted by skilled artisans with recently added conveniences & lifestyle upgrades, the level of craftsmanship and attention to detail is evident throughout. Designed by award-winning architect Terry Kilbane with the interiors designed by Tim Hawkins and constructed by Phil Morris. Enter through the private courtyard to the grand foyer featuring... ...antique Spanish Andalusian tile floors and a circular staircase. Main level living areas include the decadent living room, the formal dining room with dual wine cellars, a recently remodeled gourmet kitchen and a family room all connected to the outdoor terrace with stunning views from every window. The sprawling primary suite is also located on the first level and features a fireplace, access to three private courtyards, custom hand-painted cabinetry, marble and onyx countertops, dual walk-in closets, a separate dressing room, two water closets, separate tub/shower and an outdoor spa. The remainder of the first level offers an executive office/den, laundry room, workout/storage room, and a breezeway to the well appointed attached guest house perched above the three car garage. Take the elevator upstairs where each space has access to a private balcony. You'll appreciate the split floor plan with two en-suite bedrooms, media room & library. Embracing the Sedona Lifestyle, this property creates a peaceful equilibrium with outdoor living just as elaborate as the home itself. Centered around the negative edge pool, newly added outdoor kitchen, and numerous private courtyards, covered patios and sundecks with water features and fountains that beckon you to enjoy Sedona's mild four seasons. Each space is beautifully landscaped and accentuates the panoramic Red Rocks Views. Interior showcases custom doors and windows, French chandeliers, antique limestone fireplaces, Austrian hand-forged metal work, custom cabinetry throughout, and beautiful Spanish marble and French Oak floors. Additional amenities include Butler's pantry, technology conveniences from WiredUp, automatic draperies in the Media Room, radiant in-floor heating, an elevator, and a half bath on each level. See the list of features attached. This property sale includes a Resident's Membership to Seven Canyons Golf Club (A value of $75k+. Ask for details and transfer fee). Every aspect of this exclusive community embodies exclusivity and sophistication. Offering privileges to golf, clubhouse, restaurant, fitness center, pool, and access to Enchantment Resort. Only 5 miles to all other Sedona services. Book a private tour to experience the grandeur of this unique estate and luxury lifestyle in a one-of-a-kind setting.

24046 N 126th Place Scottsdale, AZ 85255

$6,500,000
4 Beds
4.5 Baths
5,476 SqFt
Status Active
MLS # 6717169
Property Type Single Family Residence
Price Type --
New gated community by Camelot Homes... Featuring sweeping mountain vistas and pristine desert surroundings, Shadow Ridge is the ultimate Scottsdale sanctuary. Boasting spacious lots, this follow-up to our award-winning White Horse and Bronco communities combines bright, contemporary design with timeless indoor-outdoor appeal, all in a highly desirable location a stone's throw from Tom's Thumb trailhead. **Home is offered with an 18-month leaseback, and 3-1 Month extensions (if needed).

11070 E Rolling Rock Drive Scottsdale, AZ 85262

$6,500,000
5 Beds
5.5 Baths
7,276 SqFt
Status Active
MLS # 6678211
Property Type Single Family Residence
Price Type --
Sitting at the top of Sunset Canyon this classic home with modern and Tuscan flavor is sure to amaze with incredible views, private cul de sac lot, amazing guest house/ private office, theatre room option, and two separate game/family, or exercise rooms. Oversized garage space with elevator to the main floor. Main floor living with chef's kitchen, family room, wet bar, primary bedroom suite and powder room. Additional bedrooms and multi purpose rooms are on the lower level. Some of the best views in all of Desert Mountain.

5850 E Glen Drive Paradise Valley, AZ 85253

$6,500,000
4 Beds
5.5 Baths
8,100 SqFt
Status Active
MLS # 6746313
Property Type Single Family Residence
Price Type --
This extraordinary 8.75-acre property, designed by renowned architect The Construction Zone, is perched at the pinnacle of Mummy Mountain, offering an unparalleled living experience. Plans are currently in the approval process, and this remarkable estate is being offered prior to breaking ground. Buyer can hire The Construction Zone to build or hire their own builder. As you ascend the gated, private drive, you'll be greeted by jaw-dropping, panoramic views that stretch as far as the eye can see. The property boasts spectacular vistas of Camelback Mountain, and Downtown Phoenix, all framed by a breathtaking city lights in every direction. Savor majestic sunsets from the comfort of your luxurious backyard. Accessible from the south side of Mummy Mountain, the approach begins at Lincoln Drive. Head north on 60th Street and follow the path to the gate at Upper Glen Drive. From there, a short walk up the private road brings you to this unique and magnificent parcel. Don't miss this rare opportunity to own a piece of paradise in one of the most coveted locations in the Valley. Land with exceptional views is becoming scarce on the south side of Mummy Mountain in Paradise Valley. Very private and an incredible opportunity!

9705 E Cholla Street Scottsdale, AZ 85260

$6,500,000
6 Beds
7.5 Baths
11,236 SqFt
Status Active
MLS # 6755115
Property Type Single Family Residence
Price Type --
Richly designed with impeccable detailing, grandeur finishes and magnificent curb appeal, this Italian compound is the epitome of classic luxury and modern entertaining. Privately gated 11,236 sqft estate features 6 bedrooms, 7.5 bathrooms, office and home theatre to rival any theaters in town.The Venetian plaster, teak flooring, Cantera stone columns/fireplaces, and coffered ceiling with custom metal detailing brings in a warm and elegant ambiance. Step inside the primary suite and bathroom to find Onyx counter tops, a steam shower and two oversized clothing closets. Gourmet kitchen with high end appliances, oversized kitchen island and 9x9' commercial walk-in refrigerator.The detached guest house offers a bedroom, bathroom and large living space that could also be the ideal pool house.

7505 N 70th Street Paradise Valley, AZ 85253

$6,500,000
6 Beds
6 Baths
5,561 SqFt
Status Active
MLS # 6769819
Property Type Single Family Residence
Price Type --
Seller financing available. Flexible terms,submit all offers. The moment you enter the gates to this elegant Mediterranean / Spanish inspired mansion you will notice the incredible attention to every detail.(Complete remodeled interior and exterior, including solar panels). From the herringbone pavers under the Porte-cochere to the laser cut stone medallion in the foyer, the hand crafted wood accents on all the cabinetry, and the beautiful flooring throughout, the true craftsmanship is evident and rarely found in even the most magazine featured homes. The rotunda with marble pillars, skylight, Venetian plaster and beautiful water feature invite you to unwind and relax in this cozy home.

11225 E Whispering Ridge Way Scottsdale, AZ 85255

$6,500,000
5 Beds
6 Baths
7,247 SqFt
Status Active
MLS # 6645685
Property Type Single Family Residence
Price Type --
DRASTIC PRICE REDUCTION! Nestled among the boulders of North Scottsdale, this meticulously architect-crafted residence sits within a carefully contoured footprint, cradled between mountainside, washes, and outcroppings of the pristine Sonoran desert. It offers intimate vistas of the canyon and distant city lights. Drawing inspiration from the natural 5-acre setting and Troon Mountain, the 7,247 sq. ft. private estate integrates geometric forms and materials inspired by the land, resulting in a sculptural outcropping that blurs the boundaries between indoors and outdoors, presenting an added dimension to desert living. The main living areas encompass both indoor and outdoor chef's kitchens, indoor and outdoor living rooms, a media room, a 2000 bottle wine room & two detached guest suite. The indoor gourmet kitchen outfitted with premium appliances; including BlueStar triple ovens (2 electric, 1 gas), a Viking 7-burner gas range, dual dishwashers, double Sub-Zero refrigerators, a trash compactor, and an icemaker. The meticulous attention to culinary excellence extends to the Pergola-covered outdoor kitchen, equipped with a Viking grill, deep fryer, side grill, Teppanyaki griddle, and refrigerator. Indulge in luxury with the expansive primary suite, where a steam shower provides a spa-like experience within the comforts of home. Step onto the private mountainside patio, featuring a heated Jacuzzi and an ambient fire bowl, creating a serene outdoor retreat. An additional fire bowl, firewall, and diverse water features contribute captivating elements to the outdoor atmosphere. As the sun sets, the estate's charm is elevated by a enchanting saltwater pool, casting a warm glow that further enriches the luxurious ambiance of the outdoor space. Enjoy breathtaking sunset views while immersed in the poolside oasis. Every facet of this property reflects meticulous design effortlessly fused with the surrounding environment and resonating with the spirit at Troon Estate; From the precisely dry-stacked stone forming anchoring retaining walls to stone columns framing panoramic views. A large cantilevered roof, strategically positioned, provides shade in the summer while capturing the winter sun to warm the interior flagstone floors and dry-stacked ledge stone walls. Exotic woods, such as tiger wood and ribbon mahogany, complement the stone elements, infusing the space with warm and inviting tones. From tiger wood floors throughout to Bubinga wood flooring in the office, every detail has been thoughtfully curated. This extraordinary estate elevates every moment, creating a haven for luxurious retreats in a private world of opulence.

4880 E Lone Mountain Road Cave Creek, AZ 85331

$6,500,000 - 5Br/6Ba -  for Sale in Seven Sisters Estates, Cave Creek
Open House
New
$6,500,000
5 Beds
5.5 Baths
8,682 SqFt
Status Active
MLS # 6786462
Property Type Single Family Residence
Price Type --
Desert Contemporary Masterpiece in Seven Sisters Estates Nestled in the gated enclave of Seven Sisters Estates, this new construction is perched high in the Cave Creek hills, offering an unparalleled private sanctuary. Surrounded by lush Sonoran Desert and commanding views of the Valley, sunsets, and sparkling city lights, this 5-bedroom, 7-car garage estate redefines desert luxury living, with the main living spaces thoughtfully designed on one level. Step into a world of elegance with a soaring great room, a chef's kitchen, and a dining area that opens seamlessly to a 270-degree view resort patio, perfect for entertaining or soaking in the breathtaking surroundings. The primary suite is a private retreat featuring a spa-inspired bath, a gym with steam room, and captivating views. Additional spaces include a dedicated office, an entertainer's bar, a hidden catering kitchen, and a guest wing with three en suite bedrooms. The lower level offers even more for the ultimate lifestyle, with a sports-style bar, a wine room, billiards area, and a game room. The fifth bedroom is versatile and can transform into a home theater. The 7-car garage, equipped to accommodate lifts, and a sleek elevator add to the home's thoughtful design. A serene interior courtyard is perfect for pets, morning meditation, or intimate evenings by the fire. The exterior's striking stone and stucco blend harmoniously with the home's streamlined modern lines, while walls of glass bring the desert's beauty indoors. The interior palette, curated by renowned Renee Christina Interior Design, features neutral tones, oak flooring, exquisite stone accents, designer lighting, luxury WOLF/SUBZERO appliances, and bespoke cabinetry. This exclusive property is the first of five custom homes by Diamond West in the coveted Seven Sisters Estates. Each home is situated on a 4+ acre site amidst pristine desert flora, stunning rock outcroppings, and iconic landmarks such as Elephant Butte, the Seven Sisters, and views extending to Camelback Mountain and the McDowell range.

5455 W Ray Road Chandler, AZ 85226

$6,499,650
7 Beds
11 Baths
13,749 SqFt
Status Active
MLS # 6667550
Property Type Single Family Residence
Price Type --
***Ignore Days On Market***Welcome to the Estate on Ray, a complete masterpiece nestled on over five acres in the heart of Chandler, Arizona's vibrant community. This stunning property offers the perfect blend of modern luxury and suburban charm, providing an exceptional living experience for discerning buyers. This one owner home, has been thoughtfully designed and well cared for offering future residents true luxury resort style living. As you enter the home under the porte-cochère, guests are greeted with massive solid 13' maple double doors, 24' soaring ceilings, a grand sweeping staircase, wall of glass and an abundance of natural light, creating an inviting atmosphere that exudes elegance. Retreat to the expansive master suite, featuring a sitting area, a fireplace, an office with wet bar and 2nd fireplace, a spa-inspired ensuite bath with a centerpiece skylight, dual vanities, twin water closets, a soaking tub, stackable washer and dryer, two walk-in closets, french doors to a private patio, private gym, spa and a dry sauna providing a sanctuary to escape the hustle and bustle of daily life. The recently updated kitchen features gas cooking with Wolf, Viking and Subzero stainless steel appliances featuring a vegetable fridge and bread warmer, two tone cabinetry including crafted wood arches over the large island, spacious walk in pantry and a beautiful view to the backyard oasis. Upstairs, each mini suite includes a fireplace, walk out patio, ensuite baths with soaking jetted tubs and shower. The list of features and benefits are long including imported Crema Marfil Marble flooring, over 2,000 s.f. of garage space, over 3,000 s.f. of covered patios, 8 fireplaces, 11 bathrooms, digital wifi heating and cooling (15 seer), two private casitas with separate entrances, walk in cooler, elevator for the 3 levels, a basement with a full bar, game room and a covered lower patio. The property features a remodeled pool, spa, swim up bar, sunken cabana, detached restroom and shower, spoiling the guests with a resort style experience. The property includes a detached storage shop for equipment and a climate controlled dog house. There is space enough to build a future pickleball court and a helipad! The property includes parking for 8 vehicles including a drive through garage. Additionally, the land is irrigated with an onsite well providing reusable water for the 2 lakes and grass areas, recycled back down to the well. The property could be split to accommodate two additional residences to be constructed on the north side of the lot. Additionally, 1.5 acres divided into two lots to the south of the lot may be available to the new owner as well. This home must be viewed in person to truly appreciate all that it offers.

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