LOCATION, LOCATION, LOCATION
A home Should be Convenient.
Buy a Home with public transportation nearby. Ideally you should be able to walk or bike to work, but if that's not possible at least don't force yourself to drive. Get a place that has transport available for getting you to work.
Buy in a place that has a real neighborhood. I am partial to working class neighborhoods in transition. Don't live in the sticks. You want to be able to at least buy a quart of milk when you need it. Ideally a decent supermarket should be on your must have list for a neighborhood. A library and a post office are also good to have nearby.
Buy the smallest house possible. For two people two bedrooms is enough. If you're in the northeast, try to get a house with baseboard heat. Forced air is the worst heating system.
Rent if you have the kind of job that makes you move periodically. If your job moves you a lot and you still want to get into real estate buy a condo which you are sure you can rent out. Home ownership is for people who are staying for the long haul. You can make a ton of money in houses but it takes on average 20 years.
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Amen to the public transport or to be able to walk to work. A lot of people want to live in the sticks because they don't want to deal with neighbors. For me I don't mind neighbors and I wouldn't want to live in the sticks. I like to know that I can walk to the supermarket, the post office, the library; besides, gas costs money.
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