The most important factor is your mental state. Are YOU ready to purchase? If you are ready, I would suggest calculating the mortgage payment you are comfortable with. There are many different mortgage calculators, a quick search in Google or Bing will pop this up for you. After you determine that, you should speak with a mortgage representative to determine what you are qualified for. Once you do this, you can select an agent and get the process started. Let me know if you have any other questions.
When you are tired of giving your money away to a landlord and you realize you are better off buying vs. renting. When you have saved enough money for a down payment, closing costs, repairs, moving expenses, etc....oh ya AND a lender has pre-approved you for your financing.