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Hey, pretty much I would suggest what has already been suggested. My wife and I recently bought a house, so we know some of the pit falls. Here are a couple of things to watch for.
1. Right now is a great time to buy a house because it is a buyers market. This means house prices are relatively low. Unfortunately interest rates are on the rise. No one ever knows how long this will stay like it is. However the buyers market has just begun so hopefully when you are looking to buy it will still be.
2. Watch out for crook mortgage brokers who want to make a buck and get you into a horrible loan. Don't take a variable rate mortgage unless you absolutely have to. Get into a fixed rate mortgage. Try to find one without a prepayment penalty. Also we just closed a loan with a broker who paid all of our closing costs - 100%. The only things we had to pay for was the appraisal (which they credited back to us) and the money to establish our escrows. So, try to find a bank or mortgage company who will pay for the closing costs.
3. See lots of houses. We did and we were very happy we did. It can become overwhelming, but trust me it is worth it. We saw lots of houses we really liked and we saw lots of crap. Take your time and be picky. Also insist on a home inspection. If the sellers refuse, somethings up.
Good luck and let us know how it goes.
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