An increasing number of wannabe homebuyers, many of whom have spent years saving for a down payment, are now pulling back to reassess, though only temporarily.

“People who’ve been stuck in rental units through the pandemic are itching to move. But they’re still reinventing their post-COVID lifestyles and want to be absolutely sure they make the right decision before they commit,” says Eric Tyson, a personal finance expert and co-author of “Home Buying for Dummies.”

Many renters believe it makes sense not to rush to buy, given the current climate. Though home prices are high and inventories of available property remain tight, housing analysts predict that a market more balanced between buyers and sellers is imminent.

"All signs point to the likelihood that the housing market is beginning to ease off the gas pedal,” says Nicole Bachaud, an economic data analyst for real estate giant Zillow.

She also expects that “the end of rampant price hikes may be on the horizon.”

One reason many would-be buyers who’ve already accumulated a sizeable down payment are holding off is uncertainty over their career trajectories. Because the pandemic remains a factor for many working people, it’s unclear where their primary workplace will be going forward.

Take the case of a 37-year-old public relations manager who’s been working from his two-bedroom apartment for 16 months. He has a hefty $200,000 saved for the down payment on a rural house with a yard large enough to raise three Bernese Mountain dogs. The only problem is the area he covets is a two-hour drive from his office, and he’s unsure if his company will allow him to continue remote work.

Tyson doesn’t know the manager in this true story. But he agrees that it’s prudent for the potential homebuyer to wait until he’s sure about his employment situation.

"No one wants to get locked in to a super-commute that steals your time and life,” he says.

Of course, some employees have already returned full-time to their pre-pandemic places of work. Even so, they’re still designing their future lifestyles.

Doro Kiley, a certified life coach who helps clients craft their plans, says that before launching a home search, buyers should first imagine their ideal habitat. That way, they’re more likely to get close to the best possible match.

“Always begin by thinking what you’d really like, as opposed to what you’d settle for,” Kiley says.

Here are a few pointers for buyers:

-- Outline your future on paper.

Partners often differ on ideal housing choices. That’s why Kiley says it’s helpful for both to write down their respective visions and then seek to shape them into a single statement.

Written statements help people clarify their thinking and refine the details of their plans as they move through successive drafts. They’re also a way to help reconcile differing views.

-- Pay close attention to commuting times.

Merrill Ottwein, who sells homes through a Coldwell Banker office, says one of the most wrenching tradeoffs many families face is between a larger, newer house with a longer commute and a smaller, older place that’s closer to a city center and the workplace of one or both partners.

Buyers who consider an outer-tier suburb are often driven by the desire for a larger property or what they perceive to be better schools.

But before you opt for a distant suburb, Ottwein strongly recommends you do morning and afternoon rush-hour test drives. This way, you’ll know more precisely what sort of traffic to expect if you live there.

Ottwein says buyers should disabuse themselves of the notion that the current level of traffic congestion on their path will remain static. The odds are that the traffic will worsen as the years go on.

-- Remember that your kids can thrive without a large yard.

Many people with young children hang on tightly to the hope that their kids will have a large backyard where they can play, just as they did as children. This aspiration can influence them to pick an outlying suburb at the expense of their convenience and commuting time.

But are the tradeoffs necessary to acquire a large piece of land worth it? Not necessarily, says Ottwein, noting that these days children often spend much more time in organized athletic and recreational activities than did their parents.

“Once the pandemic is behind us, kids will again become programmed to the hilt with team sports, music lessons and school events. They have little time for the sort of free backyard play their folks remember so nostalgically from childhood,” he says.

-- Take your time when shopping for the right neighborhood.

These days, many seeking to own a house in a popular neighborhood often continue to face rival bidders, though perhaps fewer than in the past. Because of that, many buyers take regrettable shortcuts, often rushing into a purchase without analyzing whether the property they’ve picked truly matches their lifestyle.

But because so much is at stake, Ottwein urges buyers to slow the process down or face the possibility of a mistaken choice.

“It’s always important to keep your eye on the ball when making a big financial purchase. You really won’t be happy if you win in a bidding war yet buy a place unsuited to your happiness,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

For many months during the pandemic, wannabe homebuyers have had to battle rival purchasers. Due to a severe shortage of available properties, many have endured fiercely fought bidding wars that ended in frustration and tears, especially when a coveted house is lost.

Such bidding struggles -- so common in the COVID era -- have pushed prices to record highs, says Lawrence Yun, chief economist at the National Association of Realtors (nar.realtor).

“Home price gains and the accompanying housing wealth accumulation have been spectacular over the past year,” says Yun, noting that a stunning 94% of U.S. metro areas have experienced strong home price increases so far this year.

But, finally, there are a few glimmers of hope for would-be buyers.

“There are signs of more supply reaching the market and some tapering of demand. The housing market looks to move from super-hot to warm, with markedly slower price gains,” Yun says.

What these changes mean is that would-be buyers who’ve yet to win a property now stand a better chance, assuming they take a strategic approach.

“These days, bagging a home remains a high-stakes game. But it’s finally one that savvy buyers can conceivably win if they play their cards right,” says Tom Early, a longtime real estate broker.

Are you planning to reenter the home-buying market in the near future? Here are a few pointers on how to use what leverage you have:

-- Choose a real estate agent with contacts and negotiation skills.

Roy Lewicki, an expert on the art of negotiation, says whom you select to represent you when buying property can be crucial.

Few buyers screen agents before selecting one, but that’s unwise, he says. Start by creating a short list of candidates, searching for those with proven track records selling a large number of homes in your target neighborhood.

“Seek out people who are ‘network leaders’ in the area, meaning they have the knowledge and expertise to provide you excellent service. They’ll also know the true value of any given home,” says Lewicki, the co-author of “Essentials of Negotiation” and other books on the topic.

Using your short list, call for references from several of the agent’s past clients, asking how well their deals were handled and whether the agent demonstrated strong negotiating skills. Also, ask if the agent helped identify major defects in the property before the deal was sealed.

In evaluating candidates, Lewicki suggests you screen for one who has the same “negotiating profile” as you.

“Some buyers -- such as investors who could easily walk away if they lost a particular house -- appreciate an agent who is an aggressive negotiator. But other buyers, like a job transferee who has just one weekend to find the right place before catching a plane back on Sunday night, may feel uncomfortable with an agent who drives a hard bargain,” says Lewicki, a professor emeritus at Ohio State University.

-- Try to avoid including a lawyer in your deal-making.

Buyers intent on getting the best possible deal may assume their strongest ally in the bargaining process would be an attorney. But Lewicki says the involvement of a lawyer can have a chilling effect on otherwise cordial negotiations.

“The legal process is adversarial. Bringing in an attorney could scare the other side into getting its own attorney, which could escalate tensions and prove counterproductive for you,” he says.

Of course, there are situations when it’s a legal requirement to have an attorney at the bargaining table. The use of a lawyer could also be advisable to help break a deadlock when negotiations falter over the acquisition of an unusually large or expensive property.

But generally speaking, Lewicki says buyers are more likely to achieve a positive outcome if they use a knowledgeable real estate agent to negotiate on their behalf at the bidding stage.

-- Use your home inspector’s report as a negotiating tool.

As Early insists, nearly every buyer is justified in hiring a professional home inspector.

“It’s just common sense to make your purchase conditional on a satisfactory inspection that looks for defects both minor and major,” Early says.

He recommends buyers seek a home inspector who’s obtained advanced training and certification through a professional organization, such as the American Society of Home Inspectors (homeinspector.org).

“If your inspection reveals major flaws, your inspector’s report will strengthen your case for remedies,” Early says.

Some inspectors charge extra for a written (versus oral) report. But Early says it’s worth the extra expense.

-- Remember that timing can be critical to cutting a good deal.

Sometimes you happen upon a property that speaks to you so strongly that you don’t want to delay for fear you could lose the place to another bidder. Years ago, Lewicki’s family had this experience after he was first offered a job at Ohio State University.

Lewicki’s wife was looking at homes near campus when she came upon the perfect place: a Dutch Colonial set in an attractive neighborhood with top-rated public schools. She quickly realized the home would be ideal for her family and that two other eager prospects were waiting outside to see it, as well.

Rather than involve herself in lengthy negotiations, her strategy was simple: Offer the full asking price and make sure her agent drafted her bid the moment she completed her visit -- an offer that won her the house.

“Timing is huge in negotiating. You have to strike when the timing is right,” Lewicki says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A Pennsylvania couple in their early 60s -- a nurse married to a pharmacist -- have long aspired to leave their modest bungalow in favor of a larger house close to the beach and their grandkids in South Carolina.

But the idea of fulfilling this “if not now, when?” retirement dream has this couple stressed out. That’s because buying in the gated South Carolina subdivision they’ve selected would mean committing to a new mortgage with just a few years left before they leave their jobs.

It’s not so much the larger house payment that’s worrying them about their future finances. Their bigger worry is whether their health care costs will increase significantly as they move into their Medicare years.

Granted, U.S. health care costs continue to escalate year after year. For the nation as a whole, annual health care spending continues to outstrip GDP growth. Such spending is expected to reach $6.2 trillion by 2028.

But Justin Brock, who heads a firm that helps educate soon-to-retire baby boomers about their Medicare options, says many seniors overestimate their future health care expenditures.

“I tell a lot of boomers, ‘Don’t freak out.' Medicare is not as costly on the pocketbook as people think. Our clients usually leave the office with a big smile on their face,” says Brock, the author of “Medicare Breakdown: The Alphabet Soup of Medicare.”

Of course, the cost of long-term care in a nursing home can be substantial for seniors, and it’s mostly uncovered by Medicare. That’s why Brock is a proponent of long-term care insurance, an expensive product but one many older people can afford to buy, assuming they’ve built a retirement savings fund during their working years.

In terms of basic health care, Medicare coverage is extensive for those who qualify and are 65 and older. As Brock explains, there are multiple reasonably priced options under Medicare, along with Part A, which is free and covers hospital room and board and other related hospital charges.

For most retirees, premiums for Part B (which includes coverage for such expenses as outpatient doctor visits and durable medical equipment) are very affordable. Gaps in such coverage can be filled with a Medigap policy.

An even more affordable alternative to this combo approach is to take Part C, a so-called Medicare Advantage plan that’s still more comprehensive, but also more limiting as to the providers you can access.

Because health care is so important to retirees, Brock urges seniors like the nurse and pharmacist to educate themselves on their coverage options before committing to the purchase of real estate. He also recommends they see a financial adviser to develop a holistic budget plan prior to moving forward.

“Make sure you have a financial plan that protects you in the event of worst-case scenarios,” Brock says.

Here are a few other pointers for soon-to-retire seniors pondering a home purchase:

-- Avoid the assumption that lenders know what you can afford.

Mortgage rates are hovering near historic lows. But many financial specialists worry that the availability of low-cost home loans can cause buyers to overspend.

“I always tell clients that before they choose a property, they should run the numbers to make sure they stay skinny on their overhead,” says Dale Robyn Siegel, a home loan broker and author of “The New Rules for Mortgages.”

Your core living costs are expenses you must meet on a regular basis. Among other things, they include outlays for food, utilities and car payments. They may also include any financial commitments you’ve made to a religious institution or charity. Together, these expenses constitute what those in the financial field call your “nut.”

“Before making any major financial decision, your first task is to ensure you’ll have the funds to meet your nut every month. Otherwise, your quality of life could be greatly impaired,” Siegel says.

Yet ironically, she says many are still able to borrow more than they reasonably should. That’s because the full extent of their living costs isn’t apparent to the lender who reviews their file.

For example, a lender won’t take into account private debts -- like the regular payments you make to help educate your grandchildren or to assist with the support of a disabled family member.

“If an expense doesn’t show up on your credit report, the bank doesn’t know about it,” Siegel says.

Siegel says it’s critically important you do your own pre-purchase computation to determine the realistic scope of your monthly nut.

-- Factor inflation into your cost-of-living calculations.

It’s no secret that as the country continues to grapple with the COVID-19 pandemic, inflationary pressures are mounting, as reflected in the government’s Consumer Price Index. Among the categories subject to recent price increases: energy, food and travel expenses.

Arlene Olberding, a certified financial planner, encourages his clients to include cost increases in their budgetary projections.

“No one is immune from inflationary increases. So it’s always better to err on the high side when you’re preparing a spending plan,” Olberding says.

-- Include savings in your financial calculations.

Many baby boomers are short on retirement savings, having reached their late 50s to 60s with relatively little stashed away for the future and a pressing need to keep saving. That’s why it’s advisable for many seniors to keep up regular contributions to their savings plans, including their employer-sponsored plans for as long as they’re working.

If possible, Olberding recommends that seniors who are still working strive to contribute to their retirement savings each year a sum equal to 15% of their gross income. And he urges that this outlay be classified as a core expense when deciding how much they can afford to cover their housing payments.

“Savings should be one of those core costs you don’t forget when figuring out how big a mortgage you can handle safely. Buying your dream house is great, but you want to do so without breaking your budget,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)