The prospect of buying a home is quite overwhelming. But if you deal with it systematically you'd be able to accomplish it with minimal hitch. For instance, if you have been eying a certain house that has a “For Sale” sign outside, ask around how much the asking price is. This will give you an idea how much that type of house costs these days. Of course, your research should not stop there. You could choose a different neighborhood if you need a cheaper house.   You must also know how much you can afford. Otherwise, you would be wasting your time looking at houses you can't even afford to buy. It would be a good idea to get pre-qualified for mortgage. Take note that you would need an amount for the down payment and for the closing costs. Down payment could be up to 20% of the total value of the property. Closing costs could be around 2% to 7% of the total value.   To qualify for a mortgage, you must have a good credit standing. Secure a copy of your credit record from each of the three major credit bureaus. This is also the time for you to dispute any inaccuracy. You should, of course, show that you pay bills on time. Your bills and other expenses should also not go higher than 30% to 40% of your gross income. But if you have made a major purchase recently like buying a car, it would be harder to get a mortgage. So prepare your finances to get mortgage.   With a mortgage ready and a fair knowledge of the current prices, you are now ready to seriously begin your search and to make an offer on the house that suits you.  

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