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After all, if it's your first time, you've got questions. You might be a little nervous that you'll mess up, and it's normal to feel that way.

First, you need to gather information. Information is empowering. Lucky for you that you came to the right place. So let's get started buying your first home!

Reconsider if Home Ownership is For You

Before you announce to the world that you are going to buy a home, let's try to talk you out of it. Yup, consider this about renting versus buying. Still want to move forward? OK.

Then here are reasons to buy.

This list contains in detail eight benefits of home ownership, including how to figure out which items are tax deductible to you.

A tax lawyer also explains how loan points work and how to deduct loan points on your tax return. But be careful if you work from your home and decide to deduct for a home office. You could face tax consequences for deducting a home office when you later decide to sell. Realize, however, that if disaster hits, you can also deduct uninsured home losses.

Review Home Buying Tips

If you're a single woman, the good news is more women than ever are buying homes. More than one in five home purchases are made by single women.

Before you start home shopping, review this about home buying. It covers how many homes you will probably see before you buy, and how to keep track and rate each home you visit.

Learn From Other's Mistakes

Smart people learn from the mistakes of others. May all your home buying mistakes be new ones!

More important, homes to avoid are those with a bad layout, and that link explains how to recognize a bad layout. If you are considering homes with a basement, here is how to spot a wet basement, and if you decide to purchase a home with a wet basement, learn how you can fix the problem so it doesn't return.

Order a Free Credit Report

Your credit report will determine the rate and terms of your loan. You can order a free credit report online. If you have bad credit because of late payments or a recent bankruptcy, you can still buy a home; you'll just pay more in rate and terms. If you can't qualify for a conventional loan, consider a land contract.

Find a Real Estate Agent

There are millions of real estate agents in the business and plenty of reasons why you want to hire an agent to help you. The trick is to find a good real estate agent. Once you settle on an agent, expect to sign a buyer broker agreement, if not before you tour homes, you will sign an agreement for representation when you write an offer.

Interview Agents

After you find several agents, it's smart to interview those agents before selecting your representation. Learn the differences between Realtors versus agents and choose accordingly. If you haven't decided on an agent to hire, be careful of procuring cause and why it's wise to inform the agent that you're undecided.

Understand How Agents Work

What you've heard about agents from friends and family might not be true. Review these top 10 agent protocol rules before you get into hot water, and remember that agents face restrictions regarding their fiduciary responsibility to you.

Find a Lender You Trust

Your bank isn't the only place to get a mortgage these days. You have other options. But do recognize the signs of predatory lenders and stay away from them. Once you find a lender you like, interview your lender before making your final selection.

Apply for a Mortgage

Explore mortgage options. FHA loans are popular with first-time home buyers. Figure out if you will put money down, as there are many ways to find a down payment. Compare loans with insurance such as PMI to piggyback loans and understand the ramifications of a loan with negative amortization such as an Option ARM or an interest-only mortgage. Decide if you should lock your loan rate upon application. Then ask for a preapproval letter from that lender.

Look for a Home

Is there a good day to buy a home? Don't pass by overpriced homes and do take time to look at new homes. Builders offer amenities and hot trends that may payoff big when you sell. When buying in a down market or a slumping marketplace, it's important to act fast.

Make an Offer

You'll write purchase offers differently for a buyer's market than seller's market offers. Avoid offer rejection by employing these top three negotiation tips, putting up a reasonable earnest money deposit and using counter offers to your advantage.

Get a Home Inspection

Always get a home inspection, and remember to look in the attic. Follow up your home inspection with a final walkthrough before closing. Beware of hiring a bad home inspector. If you didn't ask for a home warranty in your offer, considering paying for a warranty yourself.

Obtain Home Disclosures

If you're buying a condo or townhome, get a copy of the homeowner association documents. Also, the seller should provide you with a variety of home disclosures and disclose material facts.

Buy Home and Title Insurance

You can save significant money by shopping for home insurance after signing an offer. It's smart to buy your own owner's title insurance policy, as you will also insure the lender separately. Title insurance will disclose covenants, conditions and restrictions

Save for Purchases After Closing

After you have taken possession, you may then realize there are things to buy you have not considered. Consider them now.