HOW CAN I DETERMINE MY HOUSING NEEDS BEFORE I BEGIN THE SEARCH?

Your home should fit the way you live, with spaces and features that appeal to the whole family.  Before you begin looking at homes, make a list of your priorities - things like location and size.  Should the house be close to a certain school?  your job?  to public transportation?  How large should the house be?  Single story or two story?  What type of lot do you prefer?  What kind of amenities are you looking for?  Establish a set of minimum requirements and a "wish list".  Minimum requirements are the things that a house must have for you to consider it, while a "wish list" covers things that you'd like to have but are not essential. 

HOW DOES PURCHASING A HOME COMPARE WITH RENTING

The two don't really compare at all.  The one advantage of renting is you are generally free of most maintenance responsibilities.  But by renting, you lose the chance to build equity, take advantage of the benefits, and protect yourself against rent increases.  Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing.

Owning a home has many benefits. When you make a mortgage payment, you are building equity.  And that's an investment.  Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities-like insurance, real estate taxes and upkeep- which can be substantial.  But given the freedom, stability and security of owning your own home home, they are worth it.