Before you start looking at properties, make sure how much you can afford. That doesn't mean that you have to pay everything in one go, it means the maximum you’re prepared to pay each month if you get a loan. Do a case study. Try to live for three months on a new budget planned including your home loan repayments and put away a sum every month for associated costs of owning a home. After this, you can look at properties with intent, rather than hope.

Nowadays with the world becoming more and more digital, gone are the days when peering into estate agents' windows was the only way to see advertised houses. But there's a plethora of property search sites over the internet. And note that some homes are sold before they appear on the sites, so stay tuned with newspapers and local estate agents to be informed when a place is on the market.

Once you decide on the area you want to buy you have to do research on it. For example, the last thing you want is to be stuck with a property in a neighbourhood with high crime rates. An area where a revitalization plan is underway potentially represents an investment opportunity. Locations with easy access to facilities such as schools, supermarkets, pharmacies and plenty of amenities, such as malls, restaurants, parks, have profitable deals. But take your time to know as much as you can about the area you’ve identified as having potential. Do not hesitate to talk to real estate agents to get a sense of what's happening there and how properties are estimated.

Take into consideration that no one is able to predict what's going to happen to house prices, even if many will try. Like shares, house prices are markets, so do a strong research market analysis to make sure you are getting value for money and compare your favourites. Visit as many places as you can so you’ll have a good idea of what your money buys.

One of the most important early steps as a first time buyer is working out what size of mortgage you can afford. A mortgage in principle will allow you to do that, and prove to your referents that lenders are willing to grant you a mortgage. Having an ‘agreement in principle’ may help you to take advantage over other potential buyers since sellers will remember that you are a serious buyer and that you have the finances needed, offering you the best chance of guaranteeing the house you have made an offer on.