You will want to figure out if a home purchase is really where you are at in life and if so, what will the strategy be to obtain it.
You should think about the type of purchase you need to match your lifestyle and stage of life. This process will include present and future phases.
Type of purchase: Is this home a first time acquisition? Are you a new investor or a seasoned one with a sophisticated diverse portfolio? Are you looking to move into a bigger home to alleviate a growing family or is this a transition from a home to a condo? Would you consider a home that will need light to heavy renovation requirements, or a home that is turnkey and ready to move into?
Lifestyle and Stage of Life: What is the location of the community you are looking to purchase in? People are influenced by neighbourhood affluence, walkability, shopping, restaurants, highway access, schools, day care, public transportation and your commute to work. What are my needs for this stage of my life? Are you empty nesting, retiring, looking for urban living, need to accommodate elderly parents or starting a family?