Homeownership is the American dream. But is it for everyone? From a young age, purchasing a home is synonymous with success. However, there are some circumstances that need to be taken into account before making the decision to buy a home.

In the past, homeowners received a tax advantage, being able to deduct mortgage interest paid on their income taxes. However, with the doubling of the annual standard deduction, which goes into effect in 2018, many homeowners may find themselves skipping the itemizing – and the mortgage interest deduction in favor of the standard deduction.

You’ve finally decided that it’s time to buy a house. Your family looks at area listings and picks out a few homes to view. In the process, you find the house of your dreams, only to watch it slip away as another potential buyer puts a bid on it, backed by their preapproval, whereas you don’t even know what your credit score is.

In order to be taken more seriously as a buyer and avoid disappointment, here are a few things you should do prior to looking at current homes on the market:

You’ve finally decided that it’s time to buy a house. Your family looks at area listings and picks out a few homes to view. In the process, you find the house of your dreams, only to watch it slip away as another potential buyer puts a bid on it, backed by their preapproval, whereas you don’t even know what your credit score is.

In order to be taken more seriously as a buyer and avoid disappointment, here are a few things you should do prior to looking at current homes on the market: