If you’re wondering whether you’ll be ready to buy a home within the next year, you’ve probably got a lot to weigh. You’re thinking about your budget, current mortgage rates, home prices, the economy, and how all of that will affect your decision. It’s a lot to juggle.

Keep this in mind: housing market conditions matter, but your personal situation and finances matter just as much. As an article from 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

Instead of 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 signing up for a mortgage and promising to pay it back. Having a steady job and reliable income makes that much easier and gives you the confidence and peace of mind you need for such a big purchase.

2. Have you figured out what you can afford?

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

Now’s a good time to reach out to a trusted lender. They can walk you through pre-approval, let you know how much you can borrow, explain current mortgage rates and estimate your monthly payment, and outline closing costs and other expenses to budget for — so you’ll know what to expect.

3. Do you have an emergency fund?

When you’re running the numbers, make sure you’ll still have some cash set aside for emergencies. Don’t stretch your budget so thin on the house that you can’t handle unexpected expenses if they come up. It’s not a fun topic, but it’s an important one — as CNET points out.

““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 does require some upfront costs. While you'll eventually recoup that money—and likely more—as you build equity, that takes time. If you expect to move again soon, you might not get back your full investment.

In an ideal world, how long should you stay put? Lawrence Yun, chief economist at the National Association of Realtors, breaks it down:

““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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— Lawrence Yun, Chief Economist at the National Association of Realtors (NAR)

Think about your plans. If you plan to stay long-term, buying could be a smart move. But if you expect to sell and move within a year or two — for a job transfer, that promotion, 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, great. If not, a trusted local agent and a lender are a smart place to start. The right team can simplify the rest—walk you through your options and help you decide whether you’re ready to make a move or need to take care of a few more things first.