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A midyear financial check-in is a smart way to realign with your goals. If one of your financial priorities is to buy a home this year, you may be wondering if now is the right time.

Many prospective home buyers wrestle with this question. While headlines often focus on housing market volatility, mortgage interest rates and affordability challenges, the decision to buy a home is deeply personal, and best made with clarity about your values, financial readiness, and long-term goals.

Whether you're a first-time buyer or looking to upgrade, here are three key considerations to help guide your decision:

1. Align Your Home Buying Goals with Your Personal Values
   Before you start browsing listings, reflect on your personal values and what homeownership means to you. Are you seeking more space, a stronger sense of community, or proximity to family? Many home buyers are seeking flexibility, choosing homes that support hybrid work, multigenerational living, or future rental income. To stay grounded during your homebuying process, you’re encouraged to ask not just ‘Can I afford this home?’ but ‘Does this home support the life I want to build?’”
   
2. Understand the Full Cost of Purchasing a Home
   When buying a home, make sure you understand how the numbers work for your life. Our experienced lending team can help you consider loan options based on how much house you can comfortably afford, and a good rule of thumb is to keep your housing costs—like your mortgage, insurance, property taxes, and any HOA fees—at or below 28% of your income. Don’t stop there; think beyond the monthly payment. You’ll need a solid budget to help you consider various interest rate scenarios, plus a healthy credit score and a decent down payment to get you to the closing table and beyond! Make sure you’ve got savings set aside for repairs, maintenance and surprise expenses that always seem to pop up. Homeownership comes with upfront transaction costs and ongoing expenses. So take a good look at your cash flow and make sure you’re ready to handle it all, not just now, but down the road too.
3. Recognize How a Home Purchase Fits into Your Overall Financial Plan
   A home is a major investment—but it’s just one part of your broader financial picture. Many people have multiple financial goals at once, including buying a home, building a retirement nest egg, or funding college. Partner with a Certified Financial Planner® to help you prioritize your goals, review time horizons, and identify strategies that fit your unique situation. Revisit your financial plan on an annual basis or more frequently if circumstances change. This approach to balancing your goals will help you avoid shortchanging other long-term financial priorities.

Final Thoughts
Buying a home is a significant milestone that impacts your finances, lifestyle, and future. Whether you're exploring options for your first home or considering your next move, our team of D.S. Baker Advisors at Baker Boyer can help you feel confident in your home buying decisions and maintain a focus on your overall financial goals.