By MainStreet.com Staff Writers

Buying a home for the first time can be an invigorating and scary experience. You may find the whole ordeal to be a bit overwhelming. Here are some pitfalls to avoid when you’re buying your first home:

1. Buying Before You’re Ready
Although you may hear people say you’re “throwing your money away on rent,” it isn’t always wise to buy a home. If you make a good salary and have an expanding family, the desire to own a home is natural, but you have to make sure that buying makes good financial sense. Start by evaluating your debt and income. You should cap your spending on a home at no more than three times your household adjusted gross income. Also, you should reduce your income by your debt. This is how much house you can truly afford. Most financial experts also recommend that you have eight to 12 months in liquid assets in order to be totally prepared for homeownership.

2. Not Asking Questions
For first-timers, being afraid to come off as too eager or annoying with questions can force you to miss important information. After all, smart people ask questions! Don’t be afraid to ask for definitions or explanations of everything, even if you think it should be something you know. You never know how much trouble you can get into by not understanding basic home buying terminology.

3. Underestimating Additional Costs
Just because you can afford your mortgage payment each month doesn’t mean that you can afford a home. You must also take into consideration closing costs, property taxes, home repairs and unexpected emergencies. In addition to these expenses, you should consider the costs of upkeep, including utilities, lawn care, security systems, pest control and annual maintenance.

4. Overestimating How Much You Can Afford
This goes back to being realistic about your income. Just because you’ve been approved for a loan amount doesn’t mean you can afford it.

5. Forgetting About Resale
This is a dangerous pitfall many people are contending with now that the market bubble has burst. They purchased homes that were “unique” or “needed work” but never got around to doing it. Now, they’re stuck with homes that are worth even less than they paid for them and still are in need of repairs. Which brings us to the next pitfall…

6. Thinking Home Repair Is Simple
This is a major no-no. Never assume a repair on a “fixer-upper” will be simple or cheap. Even if you are doing the labor yourself, the cost of permits and materials alone can set you back an enormous amount of time and money, so be prepared for this.

7. Forget About the Neighborhood
Be sure to visit any potential home at night as well as during the day. Remember, if you buy a home, you are buying the neighborhood also. Keep an eye out for the area’s progress. Is it on the upswing or in the middle of a downturn?

Now is the time to start searching for that perfect summer job.

Many associate summer jobs with teenagers and college students on break. But, as the economy shifts temporary-seeming “summer jobs” are being sought after by all demographics. Whether for extra cash during a squeeze or as prime earnings, all summer employees ought to consider a strategic approach.

Here are five tips to get yourself a cool summer job:

1 – Think of this as a “real job” and pursue accordingly. Don’t assume that a temporary job will be any less competitive. Even if the job is seen as less desirable (e.g., like bagging groceries), you have more competition!

2 – Create multiple options. Some people slack off and only put in application or resumes in one or two places. Even if you have a killer interview on Monday do not assume you can slack off the rest of the week. Keep your info circulating and you’ll have more choices and options.

3 – Consider working for #1. Summer is a great time to start your own business. There are seasonal jobs available such as lawn care or babysitting. Some college students pooh-poo this option in lieu of getting “real credentials”. Consider, instead, the two advantages. One, you can learn all aspects of a business, from marketing and bookkeeping. And two, you can set your own hours.

4 – Relationships matter. Seasonal jobs are just like other jobs in terms of working your network. The best ones often require you reach out to every person in your social circle – and beyond. After all: if the job is so desirable you’ll have to make a case why you’re the best choice. A good word from a friend or relative can go a long way.

5 – Save for the winter. Your summer job will end. Make sure you have something to show for it. A good way to save is to set it up so it happens automatically so you aren’t tempted to spend. If that’s not possible, summer is a good time to establish a savings habit.

Have a great summer!