Make two lists of features you would like to have in your new home. The first list should contain only "must have" features - you would not even consider a property that doesn't meet these requirements. The second list should contain features that you would like to have but don't absolutely need. Don't forget to consider what your needs might be in the next 5, 10, 15+ years, not just those you have at the present. Establishing these guidelines early in the process will make your decision that much easier.
Figure out what you can afford
Take the time to examine your financial situation. How much cash and savings do you have on hand? How much will you be able to put toward a down payment? What monthly payment can you afford? The next step is to look at the different mortgage options and figure out which type would work best for your situation. You can use this information to get pre-qualified or pre-approved for a mortgage which will let you know what you can afford.
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