If you fumble on any one of these caveats, you could wind up with a home that never feels quite right, or is difficult to sell on the other end.

How do you make sure you're buying the right place at the right price in the right location? Unfortunately, there are no easy answers. You must take the time to really get to know the neighborhood and housing stock. You must spend hours visiting open houses to get a sense of the local market. And, you must work with a buyer's agent who knows what's going on and can advise you properly.

Do your homework and you'll find a home that's right for you.