YouYou must account for closing costs (typically 2% to 5% of the home price), moving expenses, and an immediate "emergency repair" fund for when the water heater inevitably breaks in month two.

Visit the neighborhood at different times. A street that is quiet on a Tuesday morning might become a noisy drag strip on a Friday night. Check local crime maps and future zoning plans (e.g., is that forest behind the backyard slated to become a shopping mall?).

Once you find a property that fits your criteria, the investigation phase begins. You are essentially acting as a private investigator for the property.

Your score determines your mortgage interest rate. A difference of even 0.5% can cost you tens of thousands of dollars over thirty years. Check for errors and pay down revolving debt months before applying.