New Year's Resolutions for Homebuyers


Like many homebuyers, you sat on the sidelines for the past few years -- watching the real estate market go from boom to bust -- and now you're just about ready to jump in.

What renter wouldn't be at least toying with the idea of homeownership, with interest rates well below 5 percent and home prices having dropped more than 20 percent in many areas of the country?

But just because conditions have tipped in favor of homebuyers doesn't mean you should run out and snatch up the first "great deal" you come across. Instead, if your goal is to become a homeowner in 2011, position yourself for long-term success by making these five New Year's Resolutions for renters who are aspiring homeowners: