Buying a home can seem extraordinarily complicated and even a bit scary considering the fact that most of us will probably only be involved in a transaction of this magnitude just a few times over the course of our lifetime.

It's not only the amount of money involved, but the overall impact your choice of residence will have on everyday life - from making ends meet financially to commuting for work, relaxing at home and enrolling children in school. If you've been thinking about taking the plunge while selection and price continue to favor buyers, the best way to get started is one step at a time, according to the experts at the Northwest Indiana Housing Alliance.

As you begin your search for the perfect new home, consider creating a solid plan that covers all the necessary components of home ownership so you can make an informed decision about buying the right home. These typically include examining your finances, researching loans, reviewing neighborhoods, comparing all the options from existing homes to new construction, making an offer and sealing the deal.

Since buying the right home, at the right price and on the right terms is dependent upon so many factors, it's important to work closely with informed, experienced and dependable housing professionals every step of the way. When you rely on the right housing professionals to guide you, your new home dreams will become a reality.

"There has never been a better time to invest in real estate," Celeste Zajac, founder of the Northwest Indiana Housing Alliance and a northwest Indiana account manager for Ticor Title Insurance™, said. "When you consider the supply of homes available at reasonable prices right now, along with the fact that interest rates remain at historic lows, there are definitely some incredible opportunities for buyers out there."

Offering a one-stop resource for prospective home buyers and sellers that provides detailed information on everything you need to know from start to finish, members of the Northwest Indiana Housing Alliance include the Greater Northwest Indiana Association of REALTORS® (GNIAR), the Indiana Mortgage Bankers Association (IMBA), the Building Industries Association of Northwest Indiana (BIA), the Indiana Association of Mortgage Brokers (IAMB) and the Porter County Builders Association Inc (PCBA).

According to Pete Novak, chief executive officer of GNIAR and member of the Northwest Indiana Housing Alliance, real estate agents can be especially helpful as you research specific locations and pinpoint the neighborhood you want to live in, as well as educate you on the entire process of buying a new home.

"One of the biggest misconceptions from a consumer standpoint is that many buyers believe they need to pay for the services of a real estate agent," he said. "While there are a number of different business models out there, in general, Realtors who represent buyers do not charge fees. Their first obligation is to their client."

Typically, once a contract for the purchase of a home has been mutually agreed upon between buyer and seller, the buyer's agent will be paid through the listing agent who has made an offer of compensation to other realtors as part of his or her agreement with the seller.

"From a buyer's perspective, the many services offered by a Realtor can ultimately save a considerable amount of time and money," Novak said. "Not only can a Realtor educate potential homeowners about the local real estate market, they can provide a great deal of relevant, experience-based information, including pros and cons, on different properties and lending programs you may be considering. When it comes to negotiating the best possible terms, they will be an advocate for you."

Although many of the most important services provided by a Realtor are often completed behind the scenes, it's important to keep in mind that these professionals are just that. Realtors are professionals who fully understand the process, providing the expertise and professional knowledge necessary to successfully guide you in today's real estate market.

If, for example, you are unsure about your price range and, especially if you are a first-time buyer looking to take advantage of the government's fully refundable $8,000 tax credit before December 1, pre-qualifying for a loan can help you get started on the right foot. Once you have a better idea of what you can realistically afford, you'll not only avoid the potential disappointment of falling in love with a home beyond your means, you'll be armed with a valuable document when it comes time to make an offer.

That's because in order to pre-qualify for a loan, you will go through many of the same steps required to actually apply for a loan.

Once you find the home you want to buy, you need to make an offer. Keep in mind that your offer is a detailed document that, upon acceptance will serve as the basis for the contract of sale.

Therefore, it's essential to cover all the details of the sale, including a legal description of the property, purchase price and amount of down payment, closing and possession dates, a statement that you expect clear title to the property, a mortgage contingency clause that cancels the contract if you can't get a mortgage, a description of items included in the sale such as appliances, curtains and fixtures plus an inspection clause that cancels the contract if the home fails to pass a professional inspection covering pests, radon gas, structural soundness, plumbing and electrical systems.

By tapping the expert advice and guidance of professionals affiliated with the Northwest Housing Alliance, home buyers can ensure they have all the necessary bases covered when it comes to making an intelligent decision.

For more information on why now is a great time to realize your new home dreams, look for advice from the experts at HYPERLINK "http://www.nwihousingalliance.com" www.nwihousingalliance.com.