Usually, this is the second time when you should keep a cool head.
Questions you should ask yourself here are:
is this going to be your house for the next 50 years or is this a stepping stone towards your dream home?
how is the commute between your house and your work?
is this house going to fit your family's needs in 2, 5, 10 years?
can this house be improved cosmetically with minimum effort and would this considerably affect it's resale value?
is the neighbourhood's reputation going to change in a foreseeable future?
where are the drugstore, grocery store, bank, video club, restaurants?
is there public transit available?
will the flooring cause your kids to have allergies?
how easily can this house be maintained?
the most important question of all: do you actually like this house?
Bonus question: will this house fulfill your entertaining needs?
You must like it if you don't want to grow to hate it.
Buying a house does require your whole family to make some sacrifices. You have to like your house, at least a little, if you don't want to resent each payment.
Watch home makeovers or hire a professional to help you make your house appealing to your senses as this can often be done for little money and make a tremendous difference in how you fell every time you pass your front door.
You can't know it all nor should you have to.
Surround yourself with trustworthy advisers such as an accountant, a lawyer and a real estate agent who has a reputation of integrity and good negociation skills.
Choose advisors you are comfortable with as you will have to share some intimate information with them.
And finally.
Have fun as this should, if done right and with good advisors, be a very enjoyable process!
