The “American Dream” for most has been to buy your own home, however, without the proper planning this dream can turn into an nightmare. Here are a few tips for home buyers in today’s market.

First, take a look at your budget. Not just one that you came up with in your head but put it on paper. There are many free software programs such as Simple D Budget or the many budget software downloads available from the Free Download Center. Creating a budget can help you track your income and expenses, allowing you to create a better recording system to help you save time and money.

Second, you should take a look at your credit history. This will give you a chance to check for errors or dings from late payments that are negatively affecting your credit score. If errors are found, you will have the chance to dispute them or work to clean up your credit before you apply for a home loan.

Lastly, keep your eye on the goal. When buying a home, you have to stay focused. Being focused will help you to remember that cutting costs now will allow you to have what you want in the long run. Owning your own home and, being able to purchase it while in a down market, is an exciting win-win.