The dream of homeownership in Hawaii can become a reality much more quickly when one or more favorable market conditions exist. Ultra-low interest rates have been in the buyer-borrower's favor for several years, but it may be changing. Military service members who qualify for the VA loans Hawaii homebuyers count on are wise to act today, especially as home sales are slowing and sellers are more motivated to negotiate. If you're looking to buy your first home or upgrade from your current one, timing the market well always is wise. If you don't, it's easy to be priced out of what you want.

VA home loans with favorable interest rates are one of the most significant benefits of military service and should never be overlooked. While some of us may be disciplined about saving throughout our lives, homeownership gives you an excellent investment regardless of your financial discipline. Then there are the quality-of-life considerations. There is enormous satisfaction in living in a home you own because you're in control and any improvements you make are for your enjoyment and to improve your home's value. You can also choose a condominium or a house in an outdoor-maintenance-free community.

Many people have fond memories of their childhood and teen years in a family home with a backyard and ample space. Having a family room, garage, or in the case of some houses, a basement affords family members space to spread out on rainy days. If you and your kids have been packed into a small apartment or starter home, upgrading to a larger and more comfortable house will make everyone happier. Now is a wise time to go home shopping before mortgage interest rates climb and markets have cooled off from recent highs, and sellers are becoming more negotiable on the price.

Most homes for sale are in Oahu and the Honolulu area because they are the most populous spots. But there are opportunities on the other Hawaiian Islands, if possible, given your work location. As tempting as it might be to buy the first home you see and like, it's always wise to shop around for comparisons. Weigh the pros and cons of each property before deciding and be aware of any issues a home may have that will cost you money after you move in. Set aside a budget for decorating if you want to add floors, carpeting, or remodel a kitchen or bathroom. All will increase your new home's value.