Most folks think the only goal they should have is to purchase a home. That is true for some, but not for others. One reason folks buy homes and then get foreclosed a few years later is because they bought before they were ready. Understanding the right time to buy is crucial. You should have answers to questions like; Is my job secure? Is my down payment big enough to leave me with an affordable payment? Do I understand the type of mortgage I am considering? Do I understand the hidden cost of purchasing and maintaining a home? All of these questions must be answered positively or you may be better off renting for a while.