1. Before shopping for a new home, get pre-approved for a loan.
Speak with a specialist at your bank or credit union about what loans are available and a good fit for you. A financial consultant can advise you not only how how much loan money you might be eligible for, but also what loans you can afford. Someone with experience in this field can also alert you to any hidden fees typically a prt of the transaction. Be sure to note the difference between pre-approved and pre-qualified. Pre-approval means the money is there waiting for you.

2. Learn about neighborhoods and prices before meeting with an agent
Explore the areas you'd like to live, either in person or on the web. Get aquainted with the neighborhoods and the general price range of the properties available. The more you know before consulting an agent, the more refined your search will be. By elminating areas with too high a cost or neighborhoods that simple don't fit your needs, you'll find the right home for you faster. Be prepared to compromise based on your findings. You may have to consider less square footage than you had imagined for property in a better neighborhood.

3. Find an agent with experience in your potential neighborhoods
Having an agent who can explain the local trends, sales and details of the area you're interested in is a huge help in this process. An agent can inform young families about the school system or first time buyers about all the real estate processes. When you get to step three, be sure to return to our site and let us help you find the agent that best meets your needs.

4. Know what you need
Now that you've become aquainted with the prices in the neighborhoods you've chosen, make a list of the things you need in a home, and a list of things you want in a home. Once you've rooted down to what's absolutely essential in your new home, you won't waste any time looking at properties without these features.

5. Look at the bones
Don't dismiss a potential home for things that are easily changible like hideous carpet or out-dated wallpaper. Even some architectural features can be easily addressed or removed. Look at the bones of the house -- the structure and floorplan.

6. Look into the Homeowner's Association
If you're looking at a condominium or other housing within a structured community, take a close look at the Homeowner's Association rules. Even some newer tract housing is governed by CC&R's (Conditions, Covenants and Restrictions) which forbid certain things like motorcycles or RVs, or restrict the color you may paint your home. If possible, ask around and find out what your potential new neighbors think of the HOA or CC&Rs.

7. Don't forget Miscellaneous Costs
Between the costs of maintaining your home, property taxes and homeowner's association dues, you might be amazed how little money you're left with. Property taxes are generally about 1.25% of the home's value -- so an owner of a new $500,000 home would be faced with about a $6250 tax bill the first year.

8. Stay within your means
While many home buyers might qualify for more than they need, it's seldom a good idea to overextend your initial budget. Just because you can qualify for an amount doesn't mean you can easily afford it. Work with the lender to find an amount that balances what they're willing to offer and what you can afford given the monthly mortgage, taxes, fees and insurance costs.

9. Professional Inspection
If your agent is able to work an "inspection contigency" into your deal, you often are given a three-day grace period when you can inspect the house more closely and revise your offer. Hire a professional inspector and have them give the property a close look -- especially the key structural points. Don't just take the seller's word for it, read over your report yourself and adjust your offer as necessary. You may even cancel your offer with no penalty. And don't forget to budget for the inspector!

10. Prepare for the Closing Process
Securing your homeowner's insurance, funding your home loan, performing the final walk-through, signing a ton of paperwork, handing over over a large cashier's check for the final costs, you have almost made it to the end of this journey. And these are only a few of the things that await you before finally completing your home purchase. Working with a professional -- someone who will eliminate as many surprises as possible -- will help get you through this trying process.