As we're experiencing historically low interest rates and our homes are becoming a place where we spend a majority (if not all) of our time, this is a question I'm sure many people find themselves asking.

However, if you're serious about buying and have begun searching for homes, I'm sure you've also noticed how quick they disappear off the market as well as how high the prices can be, which leads me to my first point.

Don't get FOMO and don't overpay just because everybody else is.

Real estate prices typically increase over time so it can feel like you need to lock in a price now, but it's also important to remember that the housing market typically has cycles. It's impossible to know the timeframe of the current cycle but if homes are out of your price point right now, it may be a few years before they come back down.

(Interest rates are set to rise over the next few years, therefore potentially causing prices to drop as demand fades away)

But to answer the question directly - just like most financial advice - it depends.

You should take some time to think about your "why" behind wanting to buy, run through the numbers to see if it makes sense financially and based on those two things, you can then begin taking the correct next steps - whether that be starting the home-buying process or maintaining your current way of life and prioritizing other financial goals.

A few questions to consider:

• Does buying a home at current prices with low-interest rates make more sense financially than waiting and maybe paying higher interest rates but lower overall cost?
• "Why do I want to buy a home?"

P.S. I haven't mentioned this within the newsletter before and just wanted to share real quick - we offer a project-based financial planning engagement which is designed to help solve a few current pain points and address any questions in your financial life.

If you feel like you'd benefit from talking with a fee-only financial planner to see if the service is right for you, schedule a time for your free Clarity Call.