A home gives a feeling of stability and commitment, not to mention autonomy and privacy. It is often the first step a person takes to put down roots in a community. It's no wonder that psychologists rank buying a home high on the list of stress-producing events. Not only is it the biggest purchase you're likely to make in your lifetime, but also it forces a wholesale examination of goals, commitments and lifestyle. It's an emotional as well as a financial investment.
People buy homes for lots of reasons.
Before you dive into the search for a home, examine your motives, clarify your wants and needs, and focus your investigation. With so much at stake, don't rush into the market without thoughtful preparation. Then again, you may spend weeks, even months, looking at houses only to end up feeling thwarted and confused. Accumulating the down payment for a home is often the goal that leads to a family's first real savings program. Later, paying the mortgage is a strong inducement to creating and sticking with a budget.