If you’re weighing whether to become a homeowner in the next year, you probably have a lot on your plate. You’re considering your finances, current mortgage rates, home prices, the economy, and how all of it will affect your decision. It can feel overwhelming.

But remember: market conditions matter, but so do your personal circumstances and finances. As NerdWallet points out:

““Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.”
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— NerdWallet

Rather than trying to time the market, concentrate on what you can control. Ask yourself these questions to help decide if you’re ready to make a move.

1. Do you have a stable job?

Buying a home is a major commitment. You’ll be taking out a mortgage and promising to pay it back, so having a steady job and reliable income matters. That stability gives you confidence and peace of mind when you’re making such a big purchase.

2. Have you figured out what you can afford?

If you’ve got a steady paycheck, the next step is figuring out what you can actually afford — which comes down to your budget, spending habits, debts, and a few other factors.

Now’s a good time to speak with a trusted lender. They can explain the pre-approval process, how much you’re likely to qualify for, current mortgage rates, and what your monthly payment might look like. They’ll also outline closing costs and other expenses to budget for so you know what to expect.

3. Do you have an emergency fund?

When you're running the numbers, leave some cash set aside for emergencies. You don't want to stretch yourself too thin on a house payment and then be left vulnerable if something unexpected comes up. It's not the most enjoyable thing to think about, but it's essential. As CNET notes:

““You’ll want to have a financial cushion that can cover several months of living expenses, including mortgage payments, in case of unforeseen circumstances, such as job loss or medical emergencies.”
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— CNET

4. How long do you plan to live there?

Buying a home requires some upfront costs. While you’ll eventually recover that money (and likely more) as you build equity, that takes time — so if you plan to move again soon, you may not get back your full investment.

In a perfect world, how long should you stay put? Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), weighs in:

““Five years is a good, comfortable mark. If the price of your home appreciates considerably, then even three years would be fine.”
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— National Association of Realtors (NAR)

Think about where you see yourself in the next few years. If you plan to stay put for a while, buying can make a lot of sense. But if you expect to sell and move within a year or two — maybe because of a job transfer or to care for family — factor that into your decision.

5. Do you have a team of real estate professionals in place?

If you do, awesome. If not, a good first step is finding a trusted local agent and a lender. The right team makes everything else simpler — they’ll walk you through your options and help you decide whether you’re ready to move now or need to take care of a few more things first.