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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1702 E Libra Drive Tempe, AZ 85283

$675,000
4 Beds
2 Baths
2,890 SqFt
Status Active
MLS # 6754260
Property Type Single Family Residence
Price Type --
This spacious 4 bedrooms, 1.75 bathrooms home is nestled on a large, corner lot at the end of a cul-de-sac with No HOA. Home has a 2 car garage, additional 2 car slab parking AND RV gate with lots of space to park an RV or recreational toys. Home features formal living and dining rooms plus a family room with wood-burning fireplace. The kitchen overlooks the family room and has granite countertops, breakfast bar and stainless steel appliances. The primary bedroom has en suite bathroom and French doors that lead to the backyard. The backyard is built for entertaining with built-in grill and bar and expansive covered patio. There is a full-on workshop in the backyard with power and lights. Convenient Tempe location and short walk or ride to K-12 schools, city parks, bus stop or Tempe's Orbit transit stop. Within a pedestrian & bike friendly community, home is a short distance the Western Canal path & Tempe Kiwanis Park. Just minutes from major shopping, dining, East Valley freeways, ASU Research Park approximately 20 minute commute to Sky Harbor Airport and so much more!

7279 E Sunset Sky Circle Scottsdale, AZ 85266

$675,000
2 Beds
2 Baths
1,986 SqFt
Status Active
MLS # 6763919
Property Type Townhouse
Price Type --
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3125 W Steinbeck Drive Anthem, AZ 85086

$675,000
3 Beds
2.5 Baths
2,469 SqFt
Status Active
MLS # 6756716
Property Type Single Family Residence
Price Type --
Step into this breathtaking, upgraded property designed to impress from the moment you arrive! Spacious, elegant, paved front courtyard. Enter the cathedral ceiling entry to 24x24in diagonal tile that adds a touch of sophistication. Stunning, custom, kitchen has pendant lighting, glass decor iron pantry door, stylish backsplash, granite counters, extra large copper sink and so much more. Master has high ceilings & private exit to the backyard. Master BA has walk-in glass obscured shower w/ separate bath, double decorative glass sinks. The backyard is on a premium lot adjct to wash, w/ pavers, built-in bbq grill, & built-in seating for outdoor entertaining. Two guest rooms plus versatile bonus room upstairs. Garage has separate exit & mahogany cabinetry. Attention given to every detail!

7037 N 11th Drive Phoenix, AZ 85021

$675,000
3 Beds
3 Baths
2,761 SqFt
Status Active
MLS # 6759247
Property Type Townhouse
Price Type --
RARE FIND with MID-CENTURY CHARM * This Quiet Hidden Gem boasts 3BR 3Ba 2G located in a peaceful cul-de-sac community of 12 homes offering a unique blend of privacy and 2,761 interior space. This home is attached at garage only, adjacent to the Greenbelt with a side yard entrance to an over 7,800 sf lot. The largest lot in this subdivision. Enter through a private gated courtyard entrance showcasing an outdoor sanctuary. The front door from this courtyard oasis opens onto a landing with a solid wood entry door, flanked by side light window panels. Upon entering the front foyer, you're greeted by a skylight above a cornered mirrored wall, expanding the space that introduces you to the bedroom wing on the left and the eat-in kitchen to the right with a long gallery hall. . . The spacious eat-in kitchen boasts solid oak cabinetry, deep cabinets and shelves, with ample storage, including a large walk-in pantry. It features a built-in wall oven, built-in microwave, and both a center island and peninsula island, providing abundant counter space and a lighted tray ceiling, adding a touch of elegance and warmth. The breakfast nook is beautifully illuminated by natural light from sliding doors that lead to the front courtyard, complete with floor to ceiling custom built-in shelf case. The spacious Primary suite offers luxury with sliding door exit to front courtyard, 2 closets, one is walk-in while the other is lengthy and mirrored in the dressing area. The ensuite bath is light and bright with 2 skylights, dual sinks, sunken tub & private toilet room. The third bedroom (split), currently used as a library/den with an attached office, is perfect for multigenerational living or a mother-in-law suite. It has its own exit to the covered back patio, entrance from the garage, and a 3/4 bath. The office can also be converted into a spacious walk-in closet, providing endless possibilities for this guest suite space. The living room features near floor-to-ceiling custom windows, framing picturesque views of the lush backyard and filling the space with natural light. A central French door provides easy access to the outdoors, inviting you to step into the serene surroundings. The formal dining room is enhanced by a stunning 10ft high tray ceiling, illuminated with soft lighting, creating a grand yet intimate atmosphere. Together, these rooms provide a perfect balance of grandeur and charm, ideal for both everyday living and elegant entertaining. The private backyard features a block fenced lot surrounded by lush grass, mature shade & citrus tree, a storage unit, and the only property with alley access. This home is brimming with custom features and has been meticulously maintained by its original owner. Wood accent trim throughout and custom triple and dual pane wood-framed windows, in excellent condition, ensuring energy-efficiency and quiet living. HVAC units replaced in 2015 and 2017. Foam roof replaced in 2016. Patio Roof replaced Sept 2024. Home features inside laundry, water softener and whole house water filtration system. Ample storage throughout the home. HOA is self-managed. Monthly Fee covers cable, internet, Greenbelt & Main entrance maintenance and street maintenance. The home is well-maintained and ready to be enjoyed as-is, with only cosmetic updates needed to suit your personal style. The primary improvement required is replacing the carpet and interior paint, allowing you the flexibility to move in comfortably and update the space to your liking over time. Fantastic Uptown Phoenix location. Quick and easy freeway access. Minutes to downtown shops, dining and entertainment. This home is truly a must-see to fully appreciate its charm and potential. Don't miss this one - See it Today!

7026 E Vernon Avenue Scottsdale, AZ 85257

$675,000
3 Beds
2 Baths
1,396 SqFt
Status Active
MLS # 6762949
Property Type Single Family Residence
Price Type --
Check out this luxurious remodeled home, located just minutes from Scottsdale Fashion Square and Old Town, offering lively restaurants and nightlife. This stunning home offers exclusivity and convenience. Set on nearly a quarter-acre lot, this 3-bedroom, 2-bath residence boasts an open-concept layout with high-end finishes throughout. The gourmet kitchen features top-of-the-line appliances, perfect for entertaining. The private backyard is a true oasis with a sparkling pool, covered patio, and an abundance of space to relax or host gatherings. With its ideal location and beautiful design, this home perfectly blends style and comfort.

6250 E Carolina Drive Scottsdale, AZ 85254

$675,000
3 Beds
2 Baths
1,415 SqFt
Status Active
MLS # 6764258
Property Type Single Family Residence
Price Type --
This newly renovated 3-bedroom, 2-bathroom home features sleek finishes throughout, a cozy fireplace in the living room, and a modern kitchen with stainless steel appliances. The primary bedroom boasts a spacious ensuite bathroom with double sinks. Enjoy seamless indoor-outdoor living with a private backyard, covered patio, and artificial turf area for convenience. This immaculate renovation also includes a new A/C unit and new water heater! Located near Kierland Commons, Scottsdale Quarter, and local parks, this home offers both comfort and convenience in a vibrant community. Including an appraised value of $720k prior to renovations. Don't miss out on this updated gem!

4143 E Rockledge Road Phoenix, AZ 85044

$675,000
4 Beds
2 Baths
2,340 SqFt
Status Active
MLS # 6764192
Property Type Single Family Residence
Price Type --
Amazing home! THIS BEAUTIFUL 3 BEDROOM plus Den HOME IS IN A PRIME LOCATION. GREAT KYRENE SCHOOL DISTRICTS. WALKING DISTANCE FROM PARKS AND POOLS. EASY ACCESS TO 202/I10. CLOSE TO EVERYTHING..., SHOPPING, RESTAURANTS, NIGHT LIFE. THIS HOME OFFERS A SINGLE LEVEL SPLIT FLOOR PLAN WITH NORTH/SOUTH EXPOSURE. PLANTATION SHUTTERS; GRANITE COUNTERTOPS; MARBLE FLOORS; HARDWOOD FLOORS; WATER SOFTENER; PRE WIRED SURROUND SYSTEM; ALARM SYSTEM; MISTER SYSTEM. OFFICE CAN EASILY BE MADE INTO 4TH BEDROOM/PLAYROOM. OVERSIZED 3 CAR GARAGE WITH TONS OF CABINET STORAGE. BACKYARD IS GREAT FOR ENTERTAINING. LUSH WITH MATURE TREES ALONG WITH PUTTING GREEN; FIRE PIT & SPA. CLOSE TO A-RATED SCHOOLS, SHOPPING, AMENITIES AND COMMUTER HIGHWAYS.

6232 E Aire Libre Lane Scottsdale, AZ 85254

$675,000
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Status Active Under Contract
MLS # 6743774
Property Type Single Family Residence
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8525 E Bonnie Rose Avenue Scottsdale, AZ 85250

$675,000
3 Beds
2 Baths
1,610 SqFt
Status Active
MLS # 6766896
Property Type Single Family Residence
Price Type --
Experience the best of Scottsdale living with this centrally located gem! In close proximity to spring training camp, top-rated golf courses, Chaparral Park, fantastic dining options, Old Town Scottsdale, and Fashion Square Mall. With NO HOA fees, this property is a perfect choice for short-term rentals. Recently remodeled kitchen featuring quartz countertops & slim shaker cabinetry. Newly updated floors, recessed LED lighting, and fresh paint inside and out. Don't let this opportunity slip away!

1326 N Central Avenue Unit 404 Phoenix, AZ 85004

$675,000
1 Bed
2 Baths
1,491 SqFt
Status Active
MLS # 6748645
Property Type Apartment
Price Type --
Step into the heart of downtown Phoenix and discover this sleek and sophisticated loft! With its open layout and soaring ceilings, this modern architectural gem is the epitome of urban chic. Enjoy surrounding views of the city skyline and mountain ranges from your private rooftop terrace! This is the perfect opportunity to own a piece of downtown Phoenix's vibrant energy! Amenities include Secured entrance with personalized access. Gated Parking, Community Pool/Gym. Private Rooftop. Open Floor Plan. Move in ready or upgrade to your dream loft!

11011 E Minnesota Avenue Sun Lakes, AZ 85248

$675,000
2 Beds
2 Baths
2,023 SqFt
Status Active
MLS # 6774080
Property Type Single Family Residence
Price Type --
Premium golf course lot w/ stunning views in a guarded & gated community. Highly desirable open floor plan that features 2 bed 2 bath w/ an office. Vaulted ceilings. Extended 2.5 car garage. Kitchen is open to the family room & includes premium alder cabinets, granite counters, & stainless steel appliances. Skylights provide natural lighting throughout. Tile in all of the traffic areas. Over-sized primary suite features a sitting area w/golf course views & custom walk-in closet. The primary bathroom has dual sinks, large shower & separate water closet w/bidet. Neighborhood amenities include golf, tennis, pickle ball, pools, NEW fitness center, clubs, social activities restaurants & more.

8216 E Del Cuarzo Drive Scottsdale, AZ 85258

$675,000
2 Beds
2 Baths
1,737 SqFt
Status Active
MLS # 6776952
Property Type Single Family Residence
Price Type --
OPPORTUNITY KNOCKS!! Your chance to remodel this 1 level home w/ a 2 car garage in the heart of highly desired McCormick Ranch. Enjoy the signature green lush grass/mature tree look that defines the very essence of beautiful McCormick Ranch! This 2 bedroom/2 bath 1 level patio home features a spacious great room that opens to lovely dining room & bright, light & airy kitchen w/ nook. Additionally, the great room opens to a lovely private back patio for incredible AZ outdoor living! Spacious primary bedroom also opens to the private back patio for additional access to your lovely private outdoor living space! There is a 2nd bedroom w/ a bathroom (that serves as the powder room too). Heritage Village 3 enclave features tennis courts, 2 swimming pools & lots of green grassy common areas!

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