If you’re thinking about buying a home in the next year, you’re probably juggling a lot of questions at once. Mortgage rates, home prices, the economy, job security, lifestyle changes—it can feel overwhelming trying to decide if now is the right time.
Here’s the truth many buyers overlook: while market conditions matter, your personal readiness matters just as much—if not more. Instead of trying to perfectly time the market (which even economists struggle to do), a better approach is to focus on what you can control.
If homeownership has been on your mind for 2026, these five questions can help bring clarity and confidence to your decision.
1. Do You Have Stable Income and Employment?
Buying a home is a long-term financial commitment. Even with flexible loan options available today, lenders still want to see consistent income and employment history to ensure you can comfortably manage monthly payments.
In 2026, many buyers are navigating career changes, hybrid work, or self-employment—especially here in the Portland metro area where tech, healthcare, construction, and creative industries all play a big role in the local economy. Stability doesn’t necessarily mean staying in the same job forever, but it does mean having reliable income and reasonable confidence in its continuation.
If your employment situation feels solid and predictable, that’s an important foundational box checked.
2. Do You Know What You Can Actually Afford?
Online mortgage calculators are a helpful starting point, but they don’t tell the whole story. What you can afford depends on far more than just your income—it includes your existing debts, spending habits, lifestyle goals, and comfort level with monthly payments.
This is where talking with a trusted local lender becomes invaluable. A lender can help you:
Understand the pre-approval process
Review current mortgage rate options
Estimate monthly payments (including taxes and insurance)
Plan for closing costs and upfront expenses
In 2026, many buyers are also using creative tools such as temporary rate buydowns, first-time buyer programs, and down payment assistance, which can significantly impact affordability—especially in competitive Portland neighborhoods.
If you haven’t had this conversation yet, it’s one of the smartest early steps you can take.
👉 We’re always happy to connect buyers with reputable local lenders who can walk through numbers clearly and without pressure.
3. Do You Have an Emergency Fund After Buying?
One of the most common mistakes buyers make is stretching too far financially and leaving themselves with no safety net.
Homeownership comes with responsibilities beyond the mortgage—maintenance, repairs, utilities, and the unexpected. Financial experts consistently recommend having three to six months of living expenses set aside after closing on a home.
This cushion can protect you from stress if life throws a curveball, whether that’s a job change, medical expense, or major home repair.
In a market like Portland—where older homes are common and charm often comes with upkeep—having reserves isn’t just smart, it’s essential.
4. How Long Do You Plan to Stay?
Buying a home typically makes the most financial sense when you plan to stay put for several years. Between closing costs, moving expenses, and market fluctuations, time helps smooth out short-term risks and allows equity to build.
Many housing economists agree that five years is a comfortable benchmark, though strong appreciation can shorten that window. Portland’s long-term housing fundamentals—limited land supply, steady population demand, and diverse employment—have historically supported price growth over time.
If you expect to relocate in the next year or two, renting may still be the better option. But if you’re planning to settle in, grow roots, or hold the home as a future investment, buying can be a powerful wealth-building move.
Helpful context:
5. Do You Have the Right Team Guiding You?
Buying a home is not a solo sport. The right professionals can help you avoid costly mistakes, uncover opportunities you didn’t know existed, and create a clear plan—even if you’re not quite ready yet.
A strong real estate team and lender can help you:
Understand local Portland market trends
Identify neighborhoods that match your goals and budget
Navigate inspections, negotiations, and timelines
Create a step-by-step buying roadmap
Even exploratory conversations can be incredibly valuable. Sometimes the outcome isn’t “buy now”—it’s “here’s what to do over the next six months to be ready.”
And that clarity alone is a win.
What This Means for Buyers in Portland in 2026
The Portland housing market in 2026 continues to reward prepared, informed buyers. While affordability remains a concern, opportunities still exist—especially for those who understand their numbers, stay flexible, and work with experienced local professionals.
Interest rates may shift, inventory will ebb and flow, but personal readiness remains the constant that determines success.
Bottom Line
If you’re unsure whether buying a home in 2026 is right for you, start with these five questions. You don’t need all the answers today—but you do need a plan.
If you’d like help evaluating your readiness, understanding your options, or getting connected with trusted local lending partners, we’re always happy to start that conversation. No pressure, just guidance—so you can move forward with confidence when the time is right.
Reach out anytime to talk through your goals and next steps!