Even if you are financially able to purchase your home or at least apply for pre-qualification there may be reasons to put off actually purchasing. However, you may definitely lose out on many years of appreciation if you do.
The biggest thing you want to try to avoid is purchasing a home to only have to sell it later down the road. If you are put in a position where you have to sell your home due to financial stress, and its before the house has appreciated enough to cover your costs of selling along with commissions you could put yourself in an even worse bind, financially. This often happens with those home buyers who had less than ten percent for a down payment.
There could be possibly several other reasons to delay buying as well such as if your new to the area. If you have recently moved to an unfamiliar area then you will want to purchase a home somewheres that you will be comfortable and happy with. Its reasonable to rent for a few months in an area that you are interested in purchasing from giving yourself a chance to get to know your surroundings and people. It may save you from a big regret later down the road.
More common issues that may arise that often post pones home buying is job loss or possible termination. If your uncertain about your employment status its definitely not a good idea to try buying a new home if you may be unable to actually pay for it.
Martial problems could be another reasonable issue for delaying the purchase of a home. If things are not stable in a relationship then its not wise to make an expensive purchase together if your unsure whether or not the marriage will last.
Searching for the right home in the perfect place? Chances are you'll want to check here first.
Gary Allalouf- RA
Hawaii Realty International
Hawaii Mortgage Basics