I had to admit that our purchase was unplanned. A land owner wanted to sell the land in emergency, I took the opportunity and since I am interested in getting that property. I was glad that we bought it at the right time, no one else had bought it, though I heard that one buyer was talking of buying it at greeter price we paid. If you are a first time buyer with limited funds, do not invest in more than one house or lot, of course if your funding is limited. Any extra funds should be used to increase the down payment or monthly dues in order to reduce your financial burden.

A good opportunity to buy is when you can lock-up the mortgage rate when it is low. This will allow you to build up equity faster even if the value of the house does not increase as fast as you like. Same as with landed property. There is always timing for everything.