3rd question...

3. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances. The Fannie Mae National Housing Survey shows that the four major reasons people buy a home have nothing to do with money:

• A good place to raise children and for them to get a good education
• A place where you and your family feel safe
• More space for you and your family
• Control of the space

What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the reason whether you decide to purchase or not.

I truly belive as well that this is the most important question to answer. Owning a home is not all financial. We all have different form of "capital" and not only is financial capital involved in owning a home. But, think of the emotional and relationship capital that can be attained by having a place to call home. Your every OWN home.