Purchasing your own home is a wonderful achievement, but it’s important that you’re well informed before you make this decision. Answer these questions first.

1. How’s your credit record?

If you’re dealing with a troubled credit history, then this may not be the best time to consider purchasing a home. A poor credit score may require you to put down a higher down payment and pay a higher interest rate on a mortgage. Fix your credit before proceeding.

2. Are you aware of the full costs of owning a home?

Much more than just your monthly mortgage payment is required for you to purchase a home and keep it. You need to fully investigate how much you’ll need for taxes, insurance, closing costs and the extra fees that mortgage companies often add. You’ll also need to consider utility bills, repairs and upkeep on the home and pool and yard maintenance.

3. Are you sure that you can afford it?

Too many people have lost their homes after buying one that wasn’t affordable. Don’t choose a home that will have you living paycheck to paycheck. Consider all of your expenses, and choose a home that fits comfortably in your price range.

Talk to Your Real Estate Agent

If you are able to give comfortable answers to these few questions, then it’s time to talk to your real estate agent. He or she will be able to give you more information to help you determine if this is the right time to buy.