Real estate novices may be intimidated by the home buying process because of the slew of negative news surrounding the industry and the high rate of fforeclosure across the nation. Taking preventative steps is the only way to truly mitigate your changes of your home dream evolving into a real estate nightmare. Here is a recommended course of action for potential homebuyers:

• Clean Your Credit: Only those with the highest credit scores will qualify for the lowest home loan interest rates. Interested home shoppers should order their credit reports, inspect the documents and start working to improve your score. Make sure not to open any additional lines of credit right before applying for a mortgage as that move can make your credit score slip.
• Crunch The Numbers: Determining your budget is the first step towards becoming a responsible homeowner. All budgets need to include income and expenses. Simply subtract the total number of expenses from your income, and you can get a rough idea. Make sure to double-check your math on a mortgage qualification calculator just to be safe.
• Get Pre-Approved for a Mortgage: After the subprime mortgage mess, lenders are tightening up the mortgage qualification process. Consumers need to make sure they can borrow the money they need before committing property because without a mortgage, the deal will fall through.
• Long Term Planning: Sometimes life can get in the way of a good time and people need to plan accordingly for the changes. When buying a new home, consumers should consider how long of a commitment they could make, if they plan on aging in place or if they plan on expanding their family. This foresight will give you vision and can help aid in the decision making process.
• Consider Additional Expenses: Home shoppers know that committing to a mortgage payment schedule is part of the process, but there are additional expenses that will come up. Single family home shoppers need to think about costs like water bills, heating oil and landscaping while condo owners will need to budget for homeowner's association fees. Property taxes will be required for either option.

Homebuyer Don'ts

Regardless of if you are a first time homebuyer or have successfully flipped properties over the years, there are certain steps involved with buying a home that should never be skipped as the errors in the beginning can lead to heartache in the end:

• Never Skip the Home Inspection Process: Homebuyers must conduct their due diligence or they may end up with a money pit. A professional inspector will let a prospective buyer know about any potential problems prior to purchase. At that point a consumer may change their mind or work with the seller to repair the problems before closing.
• Never Fly Solo: Once you find a broker, they are legally required to protect your interests. Who couldn't use a helping hand when home shopping and buying?
• Do Not Get Blindsided: Stainless steel appliances and granite counters can be pretty, but they can also be deceptive ways to get you to pay too much for a house in question. Make sure to look at the big picture and do not sweat the small stuff.