7 Steps to Home Ownership :
- Find a Realtor
- Get Pre-Approved
- Look at Homes
- Make an Offer
- Do Inspections
- Satisfy Loan Conditions
- Close and Get the Key
Real estate is a long term play, as prices generally go up over the long term. People will always need a place to live and life events will happen.
While the market will cycle, if you can get into a home where you can afford the payment, you can wait out any potential dips, and you can also refinance if/when rates go down (and prices subsequently increase).