OK, so you are going to buy a home. First of all, congratulations! Second, good luck! Now, hopefully luck will not have to enter into the equation as good planning and proper preparation can help to smooth out the whole process and assist in avoiding the traditional pitfalls of home buying. When purchasing something as big as a home there is definitely the potential to put your neck on the line, and many buyers do. The unfortunate part is that this is really not necessary. Chances are that if your neck is on the line then something has gone wrong that maybe should have been taken into account and planned for. I agree, you can't foresee everything; but you can try to plan for every possibility.

For a comprehensive list of things that can happen during the buying process make sure you consult your realtor, but in the meantime some of the most important things to think about are location, price, future and financing. Location is a huge issue in real estate and always has been. Without good location, real estate loses its value as areas with more in the way of amenities schools and entertainment grab all of the available buyers forcing other areas into a decline. Make sure that the area you choose is rich with amenities and is close to work, school and anything else you may need now or in the future. The future is also a good thing to keep in mind when buying a home. Will this home suit all your needs in say 10 years? If you are planning to have a family its better to plan for it now and have the available space as moving with kids can complicate an already stressful and complicated activity.

Price and financing go hand in hand as you will usually need one to afford the other. Having your financing organized before you ever start looking for a home is the best way to go about this process as getting financing after you have made an offer limits your options and it is unlikely that you will find the best mortgage available. From another angle, you will not be taken seriously as a buyer by most sellers if you have not been pre-approved for a mortgage. Many home owners will not want to show their home to "unqualified buyers." In having your financing arranged before you start looking you will not only qualify yourself to buyers but you can shop with confidence knowing that if you find that perfect home then you can make an offer without hesitation.