5 Questions to Ask Before You Buy a House

Deciding whether to buy a home requires a clear understanding of your long-term 'why' beyond finances, and successfully navigating the process hinges on building a skilled team of professionals, especially a world-class real estate agent, and starting early.

• Homeownership is a significant, long-term decision; ensure your 'why' justifies the commitment of at least 5-7 years.

• Assemble an expert team, especially a dedicated real estate agent, who will act as your advocate, not just a salesperson.

• Start the home-buying process early to allow ample time for preparation, team selection, and property search.

Homeownership is not a universal requirement for financial security; renters can also build wealth, and sometimes financial independence or retirement may benefit from the flexibility of renting. If you do choose to buy, it should be a long-term decision, with an expectation of staying in the home for at least five to seven years to make the significant financial commitment worthwhile. A crucial step is to assemble an expert team, led by a highly competent real estate agent, who can advocate for your best interests throughout this complex and expensive process.

Your Why for Homeownership

• 00:00:00 Homeownership is a personal choice, not a mandatory path to financial security or independence, as many successful individuals choose to rent for flexibility, even into retirement. If you decide to buy, your 'why' should extend beyond immediate financial considerations to lifestyle benefits like community roots, and it must be a long-term commitment, ideally planning to stay in the home for at least five to seven years to amortize the costs and make the investment sensible.

Building Your Expert Team

• 00:01:35 Given that buying a home is often the largest financial transaction an individual will make, it is essential to build an expert team early in the process. This team should include a real estate agent, a mortgage lender or broker, an inspector, a title company, and an insurance agent. This team helps navigate the complexities and ensures that your interests are protected throughout the purchase.

Selecting a Real Estate Agent

• 00:02:40 Finding a world-class real estate agent is paramount, and this involves seeking referrals from trusted individuals, checking reviews, and assessing their transaction volume, noting that 70% of agents sold five or fewer homes in 2025. A good agent acts as an advocate, not just a salesperson, willing to highlight potential downsides of a property and effectively communicate while helping you find other necessary professionals like mortgage brokers.

Importance of Early Action

• 00:07:44 Procrastination should be avoided when buying a home because real estate is an illiquid transaction that requires extra time to get financial affairs in order and to find the right property. Starting early, including engaging with a real estate agent, allows sufficient time to assess the agent's suitability and make adjustments if they are not the right fit, ensuring a smoother and more informed purchasing experience.