The more you understand the selling process, the more potential buyers you will attract—which can boost your selling price and facilitate a quick sale. Click a step to learn more. Are you ready to buy a home? Ask yourself these questions: What are your personal reasons? Do you need more room for a growing family, or want to move closer to work or schools? Make a list and think it through; it's a good way to balance out the financial factors in your decision. How long do you plan to own this home? You may be better off renting if you expect to move or get transferred within two years. Calculate if you should rent or buy? Do you have enough cash for a down payment, closing and moving costs? For a $100,000 home with a 20 percent down payment, you may need less than $25,000. Calculate how much you can afford. Can you afford to carry a monthly mortgage and still pay your bills? A mortgage should take no more than one third of your net income. Budget to buy and determine how much your payments will be. If you're carrying extra debt, take steps to reduce it. Do you need the tax break? Many homeowners rely on tax deductions as a budget necessity--and one way to accumulate savings.