To buy or not to buy, that is the question. It is the question of many first time home buyers who are inexperienced in the Hawaii real estate market and are facing many doubts in the challenging real estate market. Many buyers who lost the chance of getting the benefits of the government tax credit might be having second thoughts. It was a great opportunity that many let pass due to indecision. However, this indecision was fueled by insecurity that the media and the current job situation created. Many first time buyers became afraid of losing their jobs and being stuck with a mortgage. This is understandable, if their current job conditions where a bit shaky. Others were influenced by the fear and confusion that the many contradicting news (many waves of foreclosures, short sales, and lawsuits news or the recovery and better job prospects news) stirred in them. Many new first time buyers decided to wait until prices got lower and lower. For others, the situation was to get the best house for their money and indecision grew amongst the overwhelming amount of inventory available - "There are so many to choose from, we should keep looking."


Some first time buyers are not informed in the process of buying a home and rely on a real estate agent to guide them through it. Agents can be a rich source of information and guidance, but a positive professional rapport must be established first. Other well-informed first time buyers decide to deal themselves with sellers and not have an agent represent them. This decision may cost them in negotiations and in valuable information and expertise from a professional. Since sellers pay the commission, depriving themselves of the knowledge of a buyer's agent on their side, is not the best idea - utilizing all the tools available to buy a first home is.


Despite the reasons to buy or not to buy, there are a few things that all prospective home buyers should keep in mind to make the process a better experience. Each buyer should assess their financial situation and talk to different lenders before deciding. They should be realistic in what they can afford and measure their current lifestyle against it. Buyers will need a down payment to buy the home - the days of no down payment are gone. Buyers should assess their job situation and risk of becoming unemployed. Buyers should enlist the knowledge of a buyer's agent who can be a source of information and valuable during negotiations. Buyers should educate themselves as much as they can on the process of buying a home as well as some common terminology, so they can better understand the process and feel more at ease.


These are important steps when considering buying a home and they apply to all first time home buyers. Depending on each particular situation, a buyer will know the answer to the question - "to buy or not to buy."