Top things to know

CNNMoney.com has become one of my favorite resources for Real Estate information.

My latest find is in "Money 101 Lesson 8: Buying a home"

"1. Don't buy if you can't stay put. If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner."

for more, read the article.

See also:

How much house can you afford?

Are you ready?
Don't buy a house just because you can afford it. Make sure it fits with your lifestyle.

Picking a team
Don't buy a home without professional guidance.

"Get approved. Once you choose a lender, try to get yourself "prequalified," which merely means that the lender has determined the maximum home price for which it will approve a loan. If the housing market in your area is very competitive, with homes selling just days after they go on the market, then you might also consider getting "preapproved." That means the lender agrees to provide a mortgage even before you have selected a house. Not only will this help you to move quickly to close on a home once you find one, it can also give you an edge if others are competing to buy the same property. Some lenders don't charge for pre-approval, but it can cost $100 or more."

The hunt
Now it's time to hit the pavement, or the Web, in search of a home.

Closing the deal
Haggling skills come in handy, but your leverage really depends on the pace of the market.

For sellers only
The right preparation and timing can help you fetch the best price for your home.