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

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:

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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4255 E Washington Court Gilbert, AZ 85234

$649,900

4 Beds

2.5 Baths

2,387 SqFt

Status Active Under Contract

MLS # 6773726

Property Type Single Family Residence

Price Type --

This beautiful 4-bedroom, 2.5 bathroom Ashton Woods home is nestled in the highly desirable community of Highland Groves at Morrison Ranch and has brand new carpets throughout, updated bathrooms and so much more! The lower level boasts a spacious living room/dining room, then flows into the great room ideal for gatherings. Downstairs you will also find the kitchen that is equipped with shiny stainless-steel appliances, a new large capacity refrigerator, tons of updated white cabinetry, granite countertops, a cozy island, breakfast bar, walk-in pantry and don't forget about the laundry room and half bathroom. Upstairs is an oversized loft with plenty of space for family relaxing, playtime or even a home office. The 4 bedrooms upstairs are spacious and both bathrooms upstairs have been newly updated. The amenities don't stop there...step into the backyard to relax in the sparkling pool with covered patio and extended pavers...the perfect spot for hosting backyard barbecues. Not only does the house have everything you need, but the neighborhood also has tree-lined streets, lakes, fountains, playgrounds and pickleball/tennis courts. Plus, you can't get any better with the location - close to the Loop 202 & US 60, as well as tons of Gilbert's best restaurants and shops! Don't miss out on this gem being your new home!

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41160 W Almira Drive Maricopa, AZ 85138

$649,900

5 Beds

4 Baths

3,215 SqFt

Status Active Under Contract

MLS # 6783057

Property Type Single Family Residence

Price Type --

Gorgeous 5 bedroom, 4 bath home with all the upgrades on a huge 15,000+ sq. ft. lot! Plank tile throughout, large granite island, gourmet kitchen and ceramic tile backsplash. Make your way through the 16 foot Arcadia door to the professionally designed backyard complete w/heated, salt water pool w/water feature, travertine decking and turf. Insulated 3 car tandem garage includes charging for electric vehicles. This home has it all!

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520 S Brett Street Gilbert, AZ 85296

$649,900

4 Beds

2 Baths

2,159 SqFt

Status Active

MLS # 6783196

Property Type Single Family Residence

Price Type --

Beautiful home with POOL in Finley Farms! Sits on a corner lot, backing to a common area. Displaying a great curb appeal & a 2-car garage w/extended driveway, Telsa charger and newer roof! Home exudes elegance with surround sound, natural light, designer paint, tile & epoxy floors in common areas, and new carpet in bedrooms. You'll LOVE the formal living room, cozy den, & separate family room w/media niche! The impressive updated kitchen has new SS appliances, granite counters, tile backsplash, ample white cabinets, & a center island. Main bedroom has ensuite with dual sinks, separate tub/shower, & a walk-in closet. The backyard is designed for year-round enjoyment! It features a covered patio, artificial turf, fireplace, sail shades, storage shed, & a sparkling pool w/waterfall. Just WOW

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1720 E La Donna Lane Tempe, AZ 85283

New

$649,900

5 Beds

2 Baths

2,290 SqFt

Status Active

MLS # 6787784

Property Type Single Family Residence

Price Type --

Million dollar finishes and old world style. No gray here, lol. Step into extravagance. Discover luxury and comfort in this expansive home, designed for entertaining and relaxation by an international artist. The huge gourmet kitchen boasts ample counter space, perfect for culinary creations and family gatherings. Five split bedrooms offer privacy and versatility, while timeless travertine stone floors add elegance throughout. Step outside to your private oasis: a resort-like backyard featuring a sparkling pool, raised garden bed for your dinner herbs, and plenty of space for outdoor living. This property combines style, functionality, and the ultimate in leisure. Make this dream home your reality today! Less than 25 minutes to ASU, perfect also for Air bnb or Luxury rental.

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2408 W Crimson Terrace Phoenix, AZ 85085

$649,900

4 Beds

3 Baths

3,252 SqFt

Status Active

MLS # 6697417

Property Type Single Family Residence

Price Type --

4% LOAN ASSUMPTION AVAILABLE! Fabulous 4 bed (plus den & loft) 3 bath two-story home in the family friendly Carefree Crossing. Low HOA is a plus! Nice curb appeal w/ stacked stone accents, desert landscaping & large, healthy shade tree. Great floor plan w/ neutral paint, soaring ceilings & updated lighting/fixtures. Living room/dining room greet you, along w/ versatile French door entry office to your right. Perfect for home office or game/playroom if desired. Family room w/ built in buffet area makes perfect bar space. Open kitchen has plenty of cabinet space, SS appliances & island w/ raised bar top great for serving or extra seating. Breakfast area w/ bay windows looking out to backyard. Downstairs primary room has private sliders to backyard & bathroom w/ dual sinks, seated vanity, soaking tub, glass shower, private toilet, linen pantry & walk-in closet w/ built-in shelving. Second bedroom downstairs is a plus. Upstairs you will find the massive, versatile loft & the other two bedrooms, (one w/ delightful window seat) & a full bathroom w/ dual sinks. Backyard has large, covered patio w/ extended pavers, shade ramada, grassy area & raised planter perimeter, along w/ another great shade tree. Residents are very close to shopping areas to both the north & south & have quick, easy access to I-17. Come check it out today!

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18547 W Oregon Avenue Litchfield Park, AZ 85340

$649,900

4 Beds

2.5 Baths

2,988 SqFt

Status Active

MLS # 6704866

Property Type Single Family Residence

Price Type --

FREE 2-1 BUYDOWN IN THIS RV FRIENDLY COMMUNITY!! Charming and very gently lived in 4 bedroom, 2.5 bath home. This bright and inviting floorplan offers updated faux barn wood plank style tile flooring throughout the entire first floor, a beautifully updated kitchen complete with butler's pantry and upgraded stainless steel appliances, upgraded french door overlooking the lush green back yard, upstairs offers a spacious laundry room for convenience, 3 generously sized guest rooms and a very large master retreat with spacious en suite and his and hers walk in closets. But wait, there's more, also featuring a 3 car tandem garage, RV gate and parking, storage shed, 11,000+sqft lot, large covered patio, fire pit and garden area, this home truly offers something for everyone....don't miss out

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5803 N 88th Lane Glendale, AZ 85305

$649,900

5 Beds

4.5 Baths

3,018 SqFt

Status Active

MLS # 6740942

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Glendale, near the Cardinals Stadium and Westgate. This stunning residence offers five spacious bedrooms and four and a half bathrooms, providing comfort for the entire family. You'll love the elegant design and modern upgrades throughout. The main floor features a grand open-concept living area, perfect for entertaining. The gourmet kitchen boasts top-of-the-line appliances and sleek countertops. Upstairs, a large loft offers versatile space for a home office or playroom. Each bedroom is designed for comfort, offering a peaceful retreat. Inspected and approved by Inspector CYFY Home Inspections, this property meets high standards of quality and safety. Don't miss the chance to own this exceptional home!

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1246 S Sunnyvale -- Mesa, AZ 85206

$649,900

4 Beds

2 Baths

2,783 SqFt

Status Active

MLS # 6743315

Property Type Single Family Residence

Price Type --

**PRICE IMPROVEMENT** Fall in love with this large 4BR home from the minute you step inside; the immaculate and inviting interior is sure to make you smile! It's easy to picture yourself enjoying this lovely home with its inviting, open floorplan featuring vaulted ceilings and large windows that draw in the natural light, lighted niches, generous secondary bedrooms with plantation shutters, a lovely master suite with a spacious bathroom featuring dual sinks, separate shower & tub, and large walk-in closet. This home is move-in ready with a new professionally painted interior, brand new contemporary ceiling fans and updated fixtures in the main living areas. Two large living areas invite you to entertain friends or enjoy time with your family. A beautiful, upgraded kitchen with granite counters, stainless appliances and recessed lighting, direct access to the covered patio via French doors, a large laundry room and a 3-car garage with Epoxy coated floors are just a few of the things that make this home special and livable. The low-maintenance landscaping will free up your time for fun with friends and family, and the home is within walking distance to elementary and junior high schools. DON'T MISS this rare opportunity to snag a gem in Mesa's coveted STONEGATE ESTATES!

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15758 S Maui Circle Arizona City, AZ 85123

$649,900

3 Beds

3 Baths

3,039 SqFt

Status Active

MLS # 6744179

Property Type Single Family Residence

Price Type --

Welcome to this exquisite custom waterfront home with a fully self-contained casita! Nestled in a peaceful cul-de-sac, offering both privacy and luxury living. Main house features an expansive chef-inspired kitchen with a massive island. Enjoy the split floor plan, high ceilings, and a fully enclosed Arizona room with breathtaking water views. The fully self-contained Casita is perfect for guests or multigenerational living, with its own living area, full kitchen, and a private back patio overlooking the water. This one-of-a-kind property combines elegant design, functionality, and serene waterfront living in a highly sought-after location. The spacious, move-in-ready design is complemented by low-maintenance landscaping, apex garage with ample storage adds to the home's convenience. This home also boasts an additional section with private entry, living room, kitchen, bathroom, and bedroom. Don't miss the opportunity to make this stunning property your new home!

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805 W Zane Grey Circle Payson, AZ 85541

$649,900

5 Beds

3 Baths

2,900 SqFt

Status Active

MLS # 6745886

Property Type Single Family Residence

Price Type --

Beautifully remodeled home in the heart of Payson! Bright open floorplan welcomes you to a great room that that flows into the custom kitchen with granite countertops, ample cabinets, plus a large kitchen island. Main level offers a split floor plan with a large master suite, full bathroom, walk-in closet, and deck access, plus 2 additional bedrooms and a full bathroom! The lower level has a large family room, additional bedroom, full bathroom plus a HUGE 5th Bedroom/Bonus Room with it's own private entrance. Backyard has a covered deck is fully fenced. This home is in a cul-de-sac with NO HOA, near Rumsey Park. MUST SEE to get the full layout and experience! Pictures do not do this home justice! Please See Floorplan & Video

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26647 W Covey Lane Buckeye, AZ 85396

$649,900

3 Beds

2.5 Baths

2,736 SqFt

Status Active

MLS # 6746036

Property Type Single Family Residence

Price Type --

A stunning FURNISHED Voyage floor plan, where elegance & comfort converge. Enter through a private courtyard featuring a custom wrought iron gate & tranquil fountain. Inside you're greeted by warm hardwood flooring & soaring 10-foot ceilings, creating a welcoming & spacious atmosphere. The gourmet kitchen boasts chiseled granite countertops, perfectly complemented by faux wood beams & equipped with a oversized walk-in pantry. A stone-walled foyer adds a touch of sophistication, while the media wall offers an ideal space for entertainment. An impressive owner's suite features dual spacious walk-in closets. Interior arches add a unique architectural flair. Enjoy the convenience of a golf cart garage, along w/ the luxury of a covered patio & a cozy gas fire pit. Recent exterior paint ensures this home is as beautiful on the outside as it is on the inside.

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249 E Grandview Street Mesa, AZ 85201

$649,900

4 Beds

2 Baths

2,559 SqFt

Status Active

MLS # 6756270

Property Type Single Family Residence

Price Type --

Rare opportunity to own a 4-bedroom, 2-bathroom home in the highly sought-after Hohokam Village neighborhood with no HOA! This inviting home features an open floor plan, perfect for entertaining, with a cozy fireplace in the great room. Recent updates include brand new flooring throughout, fresh interior paint, and upgraded bathrooms. Step outside to your private backyard oasis, complete with a sparkling pebble tec pool, a large covered patio, and lush landscaping. Additional recent improvements include roof and pool repairs, along with new hardware throughout. Don't miss out on this gem!

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