1. There's Room for Change
Put on your visionary hat and think about the space you might need in the next 7-10 years. Consider how these life events could influence your choice:

• Marriage or moving in together

• Having or adopting kids and animals

• Kids leaving for college or their own homes

• Adult kids or other family moving in

2. The Maintenance Won't Break You
The cost of owning a home can vary greatly based on home's region, condition, construction date and other factors. Before you buy, talk to your local real estate expert about the average maintenance costs of homes in your neighborhoods of interest.

3. You Really Want to Tackle Repairs
Get firm estimates of the time, effort, and dollars involved in turning your potential home into your dream space. Also, ask your agent about home warranties that can minimize your exposure to future repair costs.

4. It Offers Lifestyle-Friendly Fees
Ownership association fees can be a great investment if the benefits have value to you. For example, if you hate routine lawn maintenance, a monthly fee is a small price to pay to avoid it.

5. It Works With Your Commute
Factor in all the places you frequent including work, schools, the grocery store, and other amenities. Check walkability scores by entering the prospective property's address and looking at nearby points of interest.

What else? If you've already purchased a home, how did you know it was "the one"? What advice can you give our first time home buyers? We'd love to hear from you, respond in the comments below!