"If you have an expensive car payment, consider selling the car or turning in the lease," says Vosburgh.
So she opened a designated "home savings" account, and she and her husband got into the habit of depositing a set weekly amount. "Soon we had a tidy amount for a down payment," says Kullen. "Every buyer at the back of their mind is thinking 'Is now a good time to buy?'
You also have to be able to pay the mortgage and home maintenance costs.
For one month, set aside the anticipated amount of your monthly housing expenses and what you'd need for an emergency fund.
Monthly: Pay all bills on time To qualify for a mortgage at a reasonable interest rate, you'll need a credit score that is in the 600s at the very least.
Lest you forget, set bills on automatic payment.
If not—or if you haven't done so recently—now's the time to check.
For your full credit report, available for free once a year, go to AnnualCreditReport.com.