Buying a home is the biggest purchase that most people make during their lifetime, and it comes with a host of risks and benefits that need to be understood and considered. Many decisions need to be made and they will differ depending on your specific circumstances, finances, and experience. Finding the right house at the right price is a very difficult and stressful process, and building one creates even more stress and requires more decisions.

People buy homes for lots of different reasons, and the factors to be considered vary accordingly. To begin this process, select the option below that best describes your situation:

• First-time home buyer
  If you're buying your very first home, the process can be overwhelming. The most important consideration is to determine why you want a house, and if you are ready for both the benefits and risks of owning a home.
• Buying a larger, more expensive home
  You are outgrowing your home and it's time for something larger, and probably more expensive. Your biggest consideration may be whether to buy first or sell first.
• Downsizing to a smaller home
  The children are grown and you really don't need that big house anymore. Hopefully, you have built up a large amount of equity and the question now is whether to pay cash for the new house or take out a mortgage.

Continue by learning what you can afford