Don't get caught up in the frenzy or hype of the real estate boom. Making a real estate purchase is a major financial decision and there are several questions you should consider.

• Do you have the down payment? See calculator
• Can you afford the monthly payment?
• Can you afford the monthly upkeep? How old is your house? Does it require routine painting?
• Can you afford the taxes? See communities
• Is you income source stable? The last thing you want to do is make a major financial commitment if you are unsure of your financial situation.
• Will the investment require one or two incomes to afford? How stretched will you be with this investment?
• Is your family life stable? Sometimes there is the belief that buying a home will actually reduce stress but in fact it may increase your stress.
• Will you maintain your home? You should always consider this an investment in which you hope to resell and make money. In order to maximize your return you have to keep up your home.