When there are financial benefits to owning versus renting
- owning has responsibilities that renting does not
- owning has privileges that renting does not
- if you see yourself staying for awhile, then the financial benefits of owning will typically outweigh the transaction costs of purchasing real estate

When there are benefits to right sizing your house to the needs of your household; this is both upsizing and downsizing
When there are lifestyle changes: single floor living space may be more appropriate as we age
When you are financially prepared
- save up for a down payment
- consider transaction and closing costs
- consider contingencies
Have your records in order
- tax returns for 2 years
- pay stubs
- bank statements
When you are emotionally prepared
- a house is a household’s major asset and as such, it may be less stressful to think of purchasing it over the 15 or 30 years that you plan on making payments rather than one large lump sum
- a strategy for acquiring a financial asset is called dollar cost averaging
  - often employers offer stock purchase plans or corporations have dividend re-investment plans which allow people to purchase shares or fractions of shares over time
  - this technique of portfolio management smooths out the trajectory of value by buying more shares at lower prices and fewer shares at higher prices
- Yes, you are inking the deal at a given amount, (and possibly at a fixed interest rate), but you are paying for that asset over time while possessing the entire asset