Deciding whether to buy a home in the next 12 months feels big — and understandably so. You’re juggling finances, mortgage rates, home prices and how the economy could affect your plans. Market conditions matter, but your personal situation matters at least as much. Instead of trying to time the market, focus on what you can control. Below are the key areas to check so you have a clearer answer.

Buying a home is a long-term commitment: you’ll sign a loan promising to repay it, so steady income is foundational. Ask yourself honestly whether your job and cash flow are stable enough to handle mortgage payments month after month.

If your income is stable, the next step is figuring out what you can realistically afford. That depends on your budget, spending habits and existing debts. Talking with a trusted lender helps: they can explain pre-approval, current mortgage rates, your likely monthly payment, closing costs and other expenses to include in your plan. Pre-approval isn’t just a number — it’s a practical boundary that focuses your search on homes you can actually buy.

Also build an emergency cushion. You don’t want to stretch to the limit on a mortgage only to be blindsided by a job loss, medical bill or an unexpected repair. As CNET recommends, aim for a financial buffer that covers several months of living costs — including mortgage payments — so a setback doesn’t become a crisis.

Upfront costs—closing fees, moving expenses, and the time/cost to accumulate equity—mean buying makes the most sense if you’ll stay put long enough to recoup them. Lawrence Yun (NAR) puts it simply: five years is a comfortable horizon, though significant home price appreciation can shorten that to about three years.

If you expect to move within a year or two (for a job transfer, family needs, or other reasons), buying may not be the smartest financial move. But if you plan to settle in the home for several years, the purchase can make sense both financially and personally. Think about your likely future: career plans, family needs and lifestyle goals. Your expected length of stay should be a major factor in the decision.

If you already have a trusted local agent and a lender, great — they’ll help turn the numbers and timeline into actionable steps. If you don’t, finding that team should be a priority. The right agent does more than show homes: they explain pricing, competition, timing and strategy so you can make an offer that stands out. A lender will walk you through the pre-approval process and the documentation you’ll need.

Being pre-approved and having a plan gives you confidence and speed when the right property appears. It’s not about rushing; it’s about being prepared so you don’t miss opportunities when market windows open. If you’re still unsure, a short conversation with an agent and lender can clarify whether you’re close — or whether a few months of focused prep (saving more, reducing debt, or improving credit) would make a meaningful difference.

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Bottom line

Market conditions matter, but your readiness comes down to personal factors: steady income, a realistic budget with an emergency cushion, a sensible time horizon, and a trusted team.

⭐ If you want to talk through your finances and next steps — and figure out whether now is the right time for you — let’s connect and map out a plan.