all homes for sale in a specific area, complete with lot size, square footage, number of rooms, taxes, school district and price. Not only will this request generate a list of possibilities; it also helps buyers estimate approximately what they can afford. A Realtor can then gauge activity in a targeted area by providing selling prices of comparable properties and how long they have been listed for sale. Finally, Realtors will assess real estate price trends by checking the appreciation of values for the previous two years.

Naturally, buyers often feel insecure when it comes to determining how much home they can afford and how much down payment is required. Because other buyers may be vying for the same property you’re looking at, it is to your advantage to go through the process of pre-qualifying for a loan. This tactic will raise your stock with a seller two-fold by making you essentially a cash buyer.

After determining down payment and mortgage availability, the obvious next step is house hunting. But before embarking on this journey, take a look at some common buyer mistakes.

1. Buying on impulse
Some people limit their search to just a few homes. Even if the first or second house you see looks like a winner, it’s a good idea to tour a wide selection of houses and list the positives and negatives of each. Then, after narrowing the prospects to three or four, return for a closer look. Evaluate more than just the property. Look at the surrounding area and amenities. Finally, ask the essential question: Will this property fit my family?

2. Not planning ahead
Think about the personal changes you are planning for the next five years. For instance, are you starting a family? If so, is the home large enough to grow with you? Is a double income necessary to qualify for financing? Do you foresee an income sufficient to continue making payments?

3. Failure to focus on location
Examine the neighborhood. Is the area safe, well maintained and moderately quiet? Find out about zoning and what new construction is planned in the immediate neighborhood. How do you feel about the future marketability of the property?

4. Looking outside your price range
It may be the palace you’ve always dreamed of, but will it burden your finances too severely?

5. Predicting the future marketability of a property
Statistics show that people move every three to five years. This may be your perfect home, but will its floor plan, room size, number of baths and other amenities appeal to the general home buying public?

Now that you’ve defined what you can afford and have targeted your search method, it’s time to start "House Hunting."

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