Buying a new home can be a very exciting experience in life, but it’s also a big commitment and a lot of work. If you don’t cross all of the T’s and dot all of the I’s, you’re asking for trouble. Follow these tips to make sure your next home purchase doesn’t turn from a blessing into a nightmare.

Before you start looking for a home, get a copy of each of your three credit reports about six months before you buy a home. Take care of any errors that might be hurting your credit score, and then go find a quality mortgage company and pre-qualify for a 15 or 30 year fixed mortgage. Be realistic about what you can afford, your payment should be no more than a quarter of your take-home pay. This will give you a good budget and guarantee that you can pay for your home once you do finally find the one that you like.

Some people actually prefer apartment life because it’s a lot simpler to manage, but buy a home anyway for financial reasons. If you’re buying a house just because of the financial benefits of doing so, consider each house you are looking at just as if it were a company you were considering buying stock for.

Never buy one of the first few houses in a new sub-division. If the developer goes bust, they will be unable to complete the development and your house will be all alone and be surrounded by dirt. Make sure you know a lot about the surrounding area. Will there be future developments or roads added? Is this something that will effect you in a negative way?

When looking at a home, find one that’s sound in its construction and materials, it doesn’t necessarily need to be up to the latest design features. Look at the house while it’s raining to see how rain water flows across it. Check for signs of leaks, poor drainage, and potential flooding. Be sure to try the commute from your new home to your job during rush hour to make sure it’s not too far away.

Once you find a home you like, make sure that your offer is contingent on the home passing an inspection and that it is also contingent on that you can get financing at the interest rate you were expecting. Always hire a real estate attorney to review the closing papers. If you’re buying a new home, have a real estate attorney review or draft the purchase contract.