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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907 W Sherwood Drive Payson, AZ 85541

$499,000

3 Beds

2 Baths

1,556 SqFt

Status Active

MLS # 6702675

Property Type Single Family Residence

Price Type --

Well maintained 3BR/2BA home located in one of the best neighborhoods in Payson. Great room design. Extra large master closet. Large 3-car garage, fenced back yard and extra shed for storage and yard tools. Painted outside in 2021, inside painted 2024, new water heater in 2023 and new kitchen appliances in 2024. Leased Solar System to help with the electric bills. THIS HOME IS IN MOVE-IN CONDITION!

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4147 E Walatowa Street Phoenix, AZ 85044

$499,000

3 Beds

2 Baths

1,664 SqFt

Status Active

MLS # 6696203

Property Type Single Family Residence

Price Type --

Welcome to this charming renovated home nestled in the heart of Ahwatukee! This spacious 3-bedroom, 2-bathroom residence has been fully remodeled and upgraded in March of 2021. The recent updates include a new HVAC system, water heater, fresh interior and exterior paint, and new low-maintenance landscaping. The well-appointed kitchen with a pantry showcases brand-new stainless steel appliances, quartz countertops, and soft-close cabinets. The open floor plan highlights new wood plank tile flooring, modern shaker doors, updated lighting and fans, as well as a cozy wood-burning fireplace. The master bedroom boasts a generous closet and a fully remodeled en-suite bathroom with a walk-in shower, vanity, lighting, and toilet. The remodeled guest bathroom features a new bathtub with modern tile surround, a vanity, lighting, and a toilet. Step through the new French doors to the expansive backyard, complete with a large covered patio, artificial grass, and a tranquil waterfall pond. Additionally, for the enthusiastic hiker and lover of outdoor nature, this home's backyard gate leads to a greenbelt that takes you to South Mountain's extensive hiking trails, the largest municipal park in the USA, offering over 16,000 acres and more than 50 miles of trails for hiking and mountain biking.

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6935 N Valley Road Eloy, AZ 85131

$499,000

4 Beds

4 Baths

2,722 SqFt

Status Active

MLS # 6701201

Property Type Single Family Residence

Price Type --

Stunning ranch-style home, ideally located near the golf course yet free from the constraints of HOA rules and fees. This property sits on a generous double lot facing open desert land. As you step through the foyer, the attention to detail is immediately apparent, from the elegant arches to the beautiful tile flooring that flows seamlessly throughout the home into the open living space and gourmet kitchen equipped with ample storage granite counters and breakfast bar, perfect for entertaining. This home boasts 4 generous sized bedrooms and 3 full bathrooms which include granite counters and tiled showers. Additionally, an extra room complete with a full bathroom and kitchenette, providing the perfect space for a man cave, office, or a private mother-in-law suite. Don't miss this home!

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7647 E Montecito Avenue Scottsdale, AZ 85251

$499,000

3 Beds

2.5 Baths

1,656 SqFt

Status Active

MLS # 6697074

Property Type Townhouse

Price Type --

HUGE OLD TOWN SCOTTSDALE opportunity! 3 Bedroom spacious Townhome! 2 Covered Parking Spots, Back Yard, Shed, Community Pool and Playground, Walking to Old Town and all the benefits of one of Scottsdale's most desirable areas!

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4524 E Shomi Street Phoenix, AZ 85044

$499,000

3 Beds

2 Baths

1,420 SqFt

Status Active

MLS # 6697283

Property Type Single Family Residence

Price Type --

This is It a Complete Remodel, that backs up to the golf course, with a New A/C, New Roof, New Appliances All Included Refrigerator, Washer, Dryer, Microwave, Dishwasher, Wine Cooler, Range/Oven, Electric Fireplace, T.V. Open Kitchen Area with New Cabinets with crown molding, New Marble Countertops, Gold water faucet, Electric Fireplace with custom chimney, Beautiful Tile throughout the home, Vaulted Ceiling with new ceiling fans, New Windows and all new doors. Marble Showers in both bathrooms, New Vanities in each bathroom with Large custom closets space. Bay window in the master bedroom. The yard backs up to the Golf Course with spectacular views, Desert Landscape with a large fountain. Bar-b-que area with patios area. Two Car Garage, Great Location close to shopping. Must See home!!

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1102 W Shawnee Drive Chandler, AZ 85224

$499,000

3 Beds

2 Baths

1,654 SqFt

Status Active

MLS # 6699171

Property Type Single Family Residence

Price Type --

Discover the perfect blend of comfort and convenience in this charming 1-story, 3-bedroom, 2-bathroom home. Nestled in a serene neighborhood, this residence boasts a refreshing pool and a fenced-in patio, ideal for outdoor relaxation and entertaining. With its prime location, you'll enjoy the ease of walking to the near elementary school, park, sports field and dog park providing endless opportunities for recreation and leisure. Inside, the spacious layout offers ample room for living and dining, while the well-appointed bedrooms with updated bathrooms ensure peaceful retreats for everyone in the household.

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4601 N 15th Avenue Phoenix, AZ 85015

$499,000

4 Beds

2 Baths

1,605 SqFt

Status Active

MLS # 6699317

Property Type Single Family Residence

Price Type --

Discover this updated NO HOA profitable Airbnb in a great location!!! This charming 4 bed, 2 bath residence now on the market is for you! Featuring a large front yard, slab parking, and a welcoming porch! Inside you'll find a spacious dining & living area w/elegant wood-look flooring, recessed lighting, and neutral palette throughout. The kitchen is comprised of espresso cabinetry w/quartz counters, tile backsplash, stainless steel appliances, and an island complete w/a breakfast bar. Enjoy a good night's sleep in the primary bedroom, boasting a walk-in closet and a pristine ensuite for added convenience. Finally, the backyard includes a cozy covered patio where you can spend a relaxing summer evening!

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7226 W St Charles Avenue Laveen, AZ 85339

$499,000

4 Beds

2.5 Baths

2,935 SqFt

Status Active

MLS # 6700679

Property Type Single Family Residence

Price Type --

Come see this gorgeous 4 bedroom property awaiting its new owners! Discover spacious living areas adorned with designer's palette, ideal for welcoming & entertaining guests. Enjoy a delightful feast in this modern kitchen dining area. With its tall ceilings, fresh paint, decorative ceiling fans, & wood-style vinyl flooring, the home emanates elegance. Remodeled white cabinetry, granite counters, center island, & high-end newer SS appliances. New Vinyl flooring through out home except master room. Retreat to the main suite upstairs its so big that current seller made a bedroom space for her toddlers. Perfect space for you to make a gym, office or baby sleeping area in your own suite room. The big backyard with pavers, artificial turf and a big shed that is used as business office.

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4083 Prairie Schooner Road Wickenburg, AZ 85390

$499,000

2 Beds

2 Baths

1,416 SqFt

Status Active

MLS # 6701529

Property Type Townhouse

Price Type --

This captivating Wickenburg Ranch townhome boasts a modern aesthetic adorned in soothing neutral hues, creating an ambiance of contemporary sophistication. As you step inside, be prepared to be enchanted by an abundance of natural light flooding through the numerous windows. The seamless integration of indoor and outdoor spaces invites the breathtaking beauty of the surrounding landscape to become a part of your everyday living experience. Situated on a coveted corner lot, this residence offers unparalleled vistas of the majestic Vulture Peak, serving as a constant reminder of the tranquility and serenity that defines life in this exclusive enclave. Whether you're enjoying a morning coffee on the patio or entertaining guests in the spacious living area, the panoramic views will undoubtedly leave you in awe. Designed for those who appreciate both luxury and convenience, this home promises a low-maintenance lifestyle, allowing you to spend less time on upkeep and more time indulging in the myriad of amenities that Wickenburg Ranch has to offer. With golf enthusiasts in mind, this property serves as the perfect sanctuary for those seeking to elevate their game on the pristine greens just moments away. Welcome home to Wickenburg Ranch, where unparalleled beauty and unparalleled luxury converge to create an unparalleled living experience.

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9342 W Atlantis Way Tolleson, AZ 85353

New

$499,000

4 Beds

3 Baths

2,525 SqFt

Status Active

MLS # 6704345

Property Type Single Family Residence

Price Type --

Highly desired 4-bedroom home in Sunset Farms is finally on the market! Inside, you will find the expansive open floor plan showcasing plush carpet, bountiful natural light, and a neutral palette throughout. Spotless kitchen displays recessed lighting, plenty of cabinets with crown moulding, stainless steel appliances, quartz counters, subway tile backsplash, and a peninsula with a breakfast bar. Sizable primary bedroom includes an ensuite with dual sinks, a sit-down shower, and a walk-in closet. PLUS! This value also have a guest's quarters with a fully-equipped kitchen and direct outdoor access. The backyard has a covered patio where you can unwind and enjoy your favorite cool drink. This gem is the one for you!

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22431 N Celtic Avenue Maricopa, AZ 85139

$499,000

3 Beds

2 Baths

2,797 SqFt

Status Active

MLS # 6702085

Property Type Single Family Residence

Price Type --

This well-maintained former model home by the original owner offers 3 bedrooms, den, bonus room & 2 full bathrooms. The interior features 10 ft ceilings, formal living & dining rooms, a separate den ideal for a home office/library and a BONUS room with pool table, perfect for entertaining! The spacious master suite is split from the 2 additional bedrooms providing privacy. Lush greenery and professionally designed landscaping create a welcoming curb appeal from the street, while the backyard transforms into a tranquil retreat with mature trees and a covered patio offering the perfect space to unwind during the warm AZ winters! Cobblestone Farms is a lake community offering a community pool with splash pad, park with playground, basketball courts and covered ramadas with BBQ grills.

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6698 S Fairway Drive Gold Canyon, AZ 85118

$499,000

2 Beds

2 Baths

1,700 SqFt

Status Active

MLS # 6702297

Property Type Single Family Residence

Price Type --

Experience the awe-inspiring beauty of this remarkable golf course residence, showcasing panoramic vistas of the Superstition Mountains and captivating Arizona sunsets. The coveted Saguaro model is offered fully furnished, inclusive of kitchen essentials and linens, poised for its fortunate new owner. Revel in the unique charm of a custom-crafted stained-glass window in the entryway, complemented by a host of interior upgrades including a welcoming gas fireplace, lofty vaulted ceilings, stylish designer paint, a soft water system, sunscreens, and a convenient built-in BBQ in the outdoor oasis. The dining room affords unparalleled views of the Superstition Mountains and the serene expanse of the Mountain Brook fairway. Nestled within the vibrant Mountain Brook Village community, residents enjoy access to an array of amenities, including a heated pool, expansive activity center, tennis and pickleball courts, as well as an abundance of clubs and activities. Just minutes away lie some of the area's finest hiking trails, while the allure of Saguaro Lake, offering a plethora of water sports, beckons approximately 30 miles away. Don't miss your chance to call this exceptional property home.

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