In this paper, a network selection algorithm for heterogeneous wireless networks (HWNs) is proposed. The proposed solution deploys contextual information related to the user preferences, user data rate requirements, and network's constraints. Networks are ranked based on a weighted profit function that combines two attributes the relative received signal strength (RRSS) and the mobile terminal (MT) power consumption. The weight of each parameter is based on the user preference. The formulated problem aims at maximizing the profit of the MT, while considering the access technology resource allocation constraints and the data rate requirement of the MT. A novel network selection algorithm is proposed to solve the formulated problem. Simulation results verify that the proposed solution could be effectively tunned to meet user preferences.