Make sure you are credit worthy. Check your credit history, build up your rating if needed, and fix any errors on your credit report.
Consider buying vs. leasing. With costs of buying and selling, plus time needed to build equity, you could end up losing money if you move too soon.
Buy a home you can afford. The rule of thumb is you can afford housing that cost about two and one half times your salary, but there are calculators available online to help you figure exactly what you can afford based on income, debts and expenses.
You may qualify for a loan with less than 20 percent down. Meet with a lender to discover programs that you qualify for.
Even if you don’t have children, buy in a good school district. When it comes time to sell, good school districts are a top priority to many home buyers.
Get a REALTOR®. Sure, you can go online, and go shopping. But you’re better off with someone who has your best interests at heart and a buyer agent can help you in negotiations and strategies in the bidding process.
Choose wisely between points and interest rate. If you plan to stay in the house a long time, it’s usually better to pay additional points to lower the interest rate.
Get pre-approved before house hunting. Know upfront what you can afford to save you time lost looking at what you can’t afford and you will be able to make a serious offer when you do find one you want.
Be a smart bidder. Ask your REALTOR what similar homes in the area have sold for, and if homes have been selling for 5% less than asking price, then work with your REALTOR to make a competitive offer.
Hire your own home inspector. One can be provided for you, but choose one that you feel will do a thorough job and have your best interest in mind.