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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20724 W Kaibab Road Buckeye, AZ 85326

$554,999

4 Beds

2 Baths

2,132 SqFt

Status Active

MLS # 6774935

Property Type Single Family Residence

Price Type --

Welcome to this expansive 1-acre horse property on a coveted corner lot! You're greeted by a side-entry 2-car garage, a natural desert landscape, & a circular driveway. Discover an inviting great room with high ceilings, an earth-tone palette, recessed lighting, blinds, & wood-look flooring. The gourmet kitchen comes with granite counters, ample wood cabinetry, stainless steel appliances, & a peninsula with a breakfast bar. The main bedroom offers plush carpeting, an ensuite with double sinks, & a walk-in closet. Outdoors, you'll find a lovely backyard featuring a covered patio, a warm fire pit, an outdoor fireplace for evenings under the stars, & a refreshing pool. Surrounded by stunning mountain views, you can create your dream oasis or establish equestrian facilities. Make it yours!

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9857 S Los Picos Drive Apache Junction, AZ 85120

$554,990

4 Beds

3 Baths

2,164 SqFt

Status Active

MLS # 6779392

Property Type Single Family Residence

Price Type --

3 car garage!! The Fairfield floorplan offers a spacious and well-designed single-level living experience, encompassing 2,164 square feet. you are welcomed into an open-concept living area that seamlessly connects the kitchen, dining, and family rooms. The kitchen is a chef's delight, equipped with modern gas appliances, ample counter space, and a large island that serves as the heart of the home, ideal for meal preparation and casual dining. wood look tile throughout, tankless water heater, 8 foot slider! This community features resort like amenities including a large pool, splashpad, park & clubhouse with fitness center!

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4024 S 177th Avenue Goodyear, AZ 85338

$554,990

5 Beds

3 Baths

2,530 SqFt

Status Active

MLS # 6779581

Property Type Single Family Residence

Price Type --

This spacious 5-bedroom 3-bathroom Bailey plan features a large kitchen overlooking the great room and separate dining area. Open concept living at its finest with a third full bathroom adjoining the fifth bedroom for family or guests. Finished with our Divine Package including white cabinetry with granite, kitchen backsplash and 6'' X 36'' tile flooring. Move into this fully equipped home that includes our spray foam insulation, a three-car tandem garage, all appliances, window coverings and pendant lighting with a December completion date.

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15394 W Cottontail Lane Surprise, AZ 85387

New

$554,990

5 Beds

3 Baths

2,734 SqFt

Status Active

MLS # 6786000

Property Type Single Family Residence

Price Type --

2,743 SQ FT SINGLE LEVEL - 3 CAR GARAGE Quick CLOSE! This beautiful 4 bedroom with a study + 3-bathroom single story is AMAZING !!! the perfect home, upgraded convenient electrical package, prewired for pendant light over the island, gorgeous tile flooring, Burlap Cabs, Quartz Slab, stainless steel appliances, gas range and dryer gas hookup, TANKLESS WATER HEATER, window coverings oversized sliding door, Smart Home and Energy Star Certified, garage door openers included just to mention a few, come see!

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32001 N 117th Avenue Peoria, AZ 85383

$554,990

3 Beds

2 Baths

1,486 SqFt

Status Active

MLS # 6755152

Property Type Single Family Residence

Price Type --

It's the Acacia being built at our newest community of Mystic in Peoria. Barnett Maple Latte cabinets throughout with 42'' kitchen uppers soft close drawers and doors in the kitchen. Wood laminate floor Casita Court with 5'' baseboards and 3 1/4'' door casings in all areas of the home except beds/closets. Large walk in shower at owner's bath with tile on the surrounds and floor. Stainless steel gas appliances including a 30'' cooktop and glass canopy hood. Pavers at drive, walk and entry. Tile in tub & shower surrounds in Bath 2. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop 303.

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15992 N Gil Balcome Street Surprise, AZ 85374

$554,990

5 Beds

2 Baths

1,955 SqFt

Status Active

MLS # 6724780

Property Type Single Family Residence

Price Type --

HUGE PRICE REDUCTION!! Stunning Fully Remodeled 5-Bedroom Home w/ Luxurious Features This remodeled, move-in-ready home boasts 5 bedrooms & 2 baths on an oversized lot backing to a serene Greenbelt. The gourmet kitchen features custom cabinetry, chef's kitchen appliance package, pot filler, large granite sink, quartz countertops and an oversized island. Wood tile flooring t/o, 10 ft ceilings, upgraded paint, 5 1/2 in baseboards, new doors, and dual-pane windows provide style and efficiency. Luxury baths with dual sinks and floor to ceiling tile. Master Suite features a custom master closet. Laundry room with new GE washer/dryer and cabinetry storage. Outdoors, enjoy a landscaped yard, Pebble Tech Pool, 12x43 covered patio, 12ft RV Gate and 5 car driveway. Move in ready & waiting for you!

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242 S 165th Avenue Goodyear, AZ 85338

$554,990

4 Beds

2.5 Baths

2,229 SqFt

Status Active

MLS # 6739790

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN! It's the stunning Crimson floor plan with 4 bedrooms, 2.5 bath. Large storage area in garage. 12'x8' sliding glass door off the extended covered patio. Stainless steel gas appliance package with a 30'' cooktop, wall oven, microwave and canopy hood. Barnette Maple slate (Gray) cabinets throughout the home. AZT Della Terra quartz Linen countertops in kitchen and owner's bath. White single bowl undermount sink in kitchen. Satin nickel hardware. Upgrade flooring includes EMS Riverside Firenza 20x20 in all areas of the home except for beds/closets. Dual sinks in bath 2. Soft water loop, 8' tall garage door opener with two remotes and so much more. BELOW MARKET FINANCING INCLUDED WITH THIS HOME!!! BELOW MARKET INTEREST RATE SPECIALS AVAILABLE! INCLUDED MOVE-IN READY PACKAGES AVAILABLE! Please verify all information with onsite agent . Thank you!

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5054 N 183rd Drive Litchfield Park, AZ 85340

$554,990

3 Beds

2.5 Baths

2,275 SqFt

Status Active Under Contract

MLS # 6765735

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Why choose this home over a new build? This exquisite property features an open-concept layout perfect for entertaining. The gourmet kitchen boasts high-end appliances, and the ensuite laundry room is conveniently attached to the primary bedroom closet. Enjoy over $20,000 in beautiful landscaping, ready for you from day one, while new builds often require additional landscaping investments.The luxurious primary suite includes dual sinks in the ensuite bathroom and a well-designed Jack and Jill bathroom for added convenience.With premium upgrades, plantation shutters, and a versatile extra room ideal for an office or bonus space, this home is move-in ready. The spacious three-car tandem garage offers plenty of storage. Don't miss the chance to make this yours!

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31381 N 130th Avenue Peoria, AZ 85383

Open House

$554,990

4 Beds

2 Baths

1,958 SqFt

Status Active

MLS # 6745460

Property Type Single Family Residence

Price Type --

The Kendrick features a quaint, covered front porch ideal for welcoming guests. Walk through the spacious foyer and gallery hall to the grand open concept dining and great room ideal for hosting and entertaining. A centralized laundry room makes access easy from any room in the home. While a dedicated office is perfect for students and hybrid workers. A back covered patio perfect for taking in the surrounding Peoria mountains and Southwest landscape is the cherry on top! Located in the highly desirable Vistancia masterplan, resident will enjoy access to the 3.5 mile Discovery Trail, and two state of the art recreation centers.

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1024 N Moccasin Trail Gilbert, AZ 85234

$554,900

4 Beds

2 Baths

2,063 SqFt

Status Active

MLS # 6731571

Property Type Single Family Residence

Price Type --

Make your home in the heart of Gilbert! This beautiful 4 bed, 2 bath home on a premium lot is looking for only it's second owner. A newly painted exterior, manicured front yard, a 2-car garage with built-in cabinets, and a welcoming porch are just the beginning. Inside you will find large dining & living areas w/newly installed wood-look flooring in all the right places, vaulted ceilings w/skylight, and a neutral palette w/fresh interior paint. The kitchen is comprised of white cabinetry, ample counter space, a prep island, a large pantry, and recessed lighting. Enjoy brand-new stainless-steel Whirlpool appliances including a gas range. Soak in the sun or enjoy entertaining on cooler evenings with a backyard that includes a covered patio, extended seating areas w/pavers, a lovely gazebo, and mature citrus trees. Finally, end your busy day in the primary bedroom with a charming bay window, a walk-in closet, and a full bath with dual sink. Near every amenity the Valley has to offer, is it time for you to discover the joy of Gilbert living?

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696 W Melody Avenue Gilbert, AZ 85233

$554,900

3 Beds

2 Baths

1,976 SqFt

Status Active Under Contract

MLS # 6768362

Property Type Single Family Residence

Price Type --

These descriptions are always so cheesy so we're going to give it to you straight, this is a really nice home, 1 1/2 miles from downtown Gilbert so you're able to ride your bike to the farmers market on Sat. or just hangout at one of the numerous restaurants, I know it was built in 1996, however, the HVAC was completely replaced in 2020, a brand new roof was installed in March of THIS YEAR! & the home has been completely remodeled, new kitchen, new flooring, new countertops, new primary & hall baths, additional can lighting as well as really cool pendant lighting in the kitchen & dining area, the corner lot is huge & private & the large Ficus tree is only available in a home of this age, this is a great home guys & worth your time to see, we definitely would if we were looking for a home!

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11064 E Reginald Avenue Mesa, AZ 85212

$554,900

3 Beds

2 Baths

2,112 SqFt

Status Active

MLS # 6718268

Property Type Single Family Residence

Price Type --

This spacious and stunning home offers 3 bedrooms with 2 baths in the lovely Nova Vista neighborhood. Your family will love the large Bonus/Gaming Room close to the split bedrooms. The home offers a large kitchen that opens up to the family room and dining room making this great for entertaining! Enjoy the backyard under the covered patio, or out in the grass! Front and back yard are low maintenance with great appeal. It is located close to schools, shopping and easy access to Highway 202. Easy access, come see it today!

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