When considering if the time is right to buy a new home, there are a lot of different factors to consider. Home prices are different for each area of the country, but overall it seems to be an excellent time to buy. The article focuses on seven factors to examine when making this decision. The first is price. You want to work with an experienced Realtor or Broker who can fill you in on what your local market is doing. Nationally the average home price fell 19.2% over the last six years, so if you do your homework and get proper representation there are defiantly deals to be found. You also want to take an equally close look at mortgage rates, which have now fallen to an historic low, at less than 4%. You want to carefully consider affordability. There are an unusual amount of distressed properties on the market currently, so there are opportunities to get a real deal on bank owned, foreclosed, and auctioned properties. Again, you need to work with an experienced Realtor who specializes in these areas. The article also examines how rental rates are being affected by the current market (Going up), lower tax costs due to lower home prices, and your rights as a new owner of a home. Lastly, it recommends that you take your personal preferences into consideration and purchase a home that you are happy with.