The Home-ownership Thread

This forum is always good for advice on topics outside of hockey and I bet this will be no different. I know Bio has regaled us with stories of her house nightmares, so maybe others have things to contribute?

Although home-ownership not in our immediate plans, Josie and I talk frequently about our desire to stop throwing money into the apartment rental void. Our lives are still a little too unpredictable at the moment, but I think within the next two years I want to take a stab at it. 

Now, I'm no stranger to making hasty and risky financial decisions, but I've lived in enough rental homes and done enough of my own work in those homes to know what I'm getting in to, and I know that preparation is key. I don't want to go into this without knowing what I'm doing. 

Things I'm curious about:

1. The process of home buying. How did you go about finding, inspecting, financing, etc? I spend a lot of time messing around on Zillow and stuff, but I've never spoken to a realtor or anything. 

2. Financial incentives. What is out there for young adults, first time home buyers, people who don't make a lot of money, etc.?

3. What improvement jobs have you tackled yourself? What were your results? Tips? 

4. Foreclosed homes and short sales. Ever bought one? How did it go?


Obviously this is just an open thread. These are just my conversation starters.