He who has the most gold makes the most rules, translation, with a solid credit report and a good down payment, you can make the home purchase of your dreams!

1. Buying is not a short-term fix.
If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner.  In our current market home values are increasing about 8-12% per year or $16-25,000 per year.  Real Estate has proven to be the world's best investment.

2. Understand your credit and get pre-approved.
Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. Make sure the facts in your report are correct, and fix any problems you discover.  Getting pre-approved will you save yourself the grief of looking at houses you can't afford and put you in a better position to make a serious offer when you do find the right house. A pre-approval from a lender is based on your actual income, debt and credit history. Pre-approvals can take as little as an hour and can be obtained by filing out this application.

3. You can still buy a home without a 20% down payment.
Many people think that the only way they can buy a home is if they have thousands of dollars in spare cash lying around.  While it is true that a down payment will ease the process in loan approval, there are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a down payment as small as 3 percent of the purchase price.  I have found that many sellers will help pay your closing costs also.

4. Remember to think of the nearby amenities. 
In most areas, this advice applies even if you don't have children in school or a youngster in tee-ball.  Reason: When it comes time to sell, you'll learn that strong school districts, parks and local businesses are a top priority for many home buyers, thus helping to boost property values.

5. Do not buy without professional help.
Remember, when your break a bone you visit the doctor and when you break the law you hire a lawyer.  Buying a home is no different. Hiring a Realtor, will not only save you money, but you will also find that a Realtor will negotiate a variety of terms that suit your personal needs.  People think they can buy a home on their own, but forget to think about the actual items needed to make the purchase. Without a Realtor could you negotiate a sales price, create a written real estate contract, decide all due diligent deadlines, loan approvals, seller financing, seller carry backs, appraisals, contingencies, title reports, walkthrough inspections and final close documents?