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Buying a home is very likely the biggest and most important investment decision you will ever make. It is a decision worthy of careful consideration and often prior expert advice. Here are some tips:

Get pre-qualified: Pre-qualification is an assessment by a lender and it tells you the loan amount for which you are qualified and will be able to get for the purchase of your home.

Get a real estate agent:Your Real Estate Agent has the expertise and a body of information that will be of immense value. Click here for more reasons why you should use a realtor.

What can your agent do for you? The agent can:

• research your housing needs in advance through a Listing Service to which they subscribe - even if you are relocating from another city or country;

• show you homes best suited to your needs in terms of location, size, style, features, accessibility to schools, transportation, shopping and other personal preferences;

• advise you with regard to current real estate values, taxes, utility costs, municipal services and facilities, and may be aware of local zoning changes that could affect your decision to buy;

• can tell you what personal and financial data to bring with you when applying for a loan;

• advise and guide you through the details and complexities of the sales contract, and assist in finding essential services to complete the selling process such as inspection, title transfer, mortgage providers.

Choose a home: In doing so, consider your priorities. If you can't get all the features you want in a home at your price, what features are most important? Would you trade fewer bedrooms for a larger kitchen? A longer commute for a bigger lot and lower cost? Consider, also, what your needs will be in future years.

Make an offer: When you find the home that you like, it is then time to make a offer. The offer, if accepted, will become a binding sales agreement.

Your real Estate Agent, being knowledgable in these matters, will provide the guideance necessary for the preparation of a proper offer which will include detals regarding a variety of issues and how they are to be handled under different circumstances.

Did you know that one of the real benefits of owning a home is the tax break that you get from it, whether as an individual or as a couple. For example, if you own a home and use it as your main residence for two or more years in a five-year period then sell it, you will pay no tax on the profit upto $250,000 if you are single, and $500,000 if you are a couple.

Note, however, that to qualify for the $500,000 tax benefit, the following test must be met:

1. you are married and file a joint return for the year;
2. either you or your spouse meets the ownership test;
3. Neither you nor your spouse excluded gain from the sale of another home.

This is a great tax benefit. More than that, it is such that you can take advantage of it every two years.

From an investment point of view, this is one of the best reasons to buy rather than rent a home. Don't you think? Consult your tax account for more information.