A - Probably the most important things to do are the following:

Get a realistic idea of what you can afford. Do this by either sitting with your financial advisor (if you have one) or sitting with a representative of a reputable mortgage lender. I do not advise that you use an on-line mortgage company for your first home buying experience. Direct mortgage lenders and reputable mortgage brokers have their own sources of money and while some may tend to be a bit conservative in their lending practices, that conservatism will help keep you out of trouble too.

You may find it valuable to read this Beginners Guide to Mortgage Shopping article. Then, go to the Financing and Insurance Page for more help with that. You may also want to better understand down payment assistance programs, especially if you are a first time buyer. To see what is available go to the Finance and Insurance page.

Establish a search area where you feel you would like to live and which has a reasonable drive time to your work place(s). I recommend that you try the drive out in the morning and again at night at least once to see what kinds of traffic patterns you might have to deal with and to get a feel for your potential drive time. If you’re unsure about the type of neighborhood that you’d like to live in, here’s a good article from the HGTV Frontdoor Web site on the pros and cons of 12 different neighborhood types .

Create a realistic set of criteria for your real estate agent to use in the search. If you are in the $100-200K range for your first home, it is not realistic to expect to find a big house with lots of land and features like walk-in closets and a Jacuzzi tub in the master suite bathroom. As Dr. Phil might say - Get Real!

It’s OK to specify things like number of bedrooms and baths preferred, basement or no basement, garage (1-2 car), style (ranch, colonial, Cape Cod) and, of course, the price range. In general, older and smaller homes (normally ranches and tri-/quad-levels) will fit the criteria in the $100 - 200K price range. Your real estate agent can help with that too.

There is always a temptation to put things off or wait for what you think might be a better time to look; however, there may also be a cost of waiting, especially now.

If you are thinking about a condo, read this blog article first to make sure that you understand that not all condos are qualified for FHA loans and that getting a condo complex that is not certified for FHA certified is a long and complicated process.

If you are considering leasing for a while to get started and perhaps save for a down payment, here’s a good article - A Tenants Guide to Leasing - that you may find helpful.