Tired of renting? Relocating for a new job? Have a growing family? It may be time for you to buy a new home. However, before you dive into this large financial purchase, make sure you ask yourself these five questions:

HOW MUCH CAN I AFFORD?

Check online for financial calculators that use your income and debts to calculate how much you can afford to spend on a house. The best calculators will also include tallies for things like your annual homeowners insurance premiums, real estate taxes and maintenance costs. These calculators usually tell you the maximum amount you should spend on a house.

WHAT NEIGHBORHOODS DO I LIKE?

If you have kids, it's important to check out things like the local schools and parks. You may also want to consider things like crime rates, employment rates, the commute to your job, shopping and traffic issues. Some folks prefer planned developments, and others like the freedom of no rules and restrictions. You'll need to figure out what's best for you.

ARE THERE HOME INSPECTIONS I NEED?

Check with your real estate agent to find out what typical home inspections are included in the geographic area where you want to buy your home. Then pay close attention to see if you need to get other inspections, too. If the area is known for a high rate of radon, you may want a radon test. If termites are common in the neighborhood, you may need a pest inspection.

DOES IT MEET MY NEEDS?

When you do start looking at houses, make sure they meet your needs. Sure, you may fall in love with the built-in bookcase and breakfast nook, but is the yard too small for your kids and dogs? Maybe the little den would make a perfect small office, but there aren't enough bathrooms.

ARE THERE OTHER HAZARDS?

If the house is older, you may need to worry about hazards like lead paint. Depending on the state or city, you might want to see if the house is located in a high-risk zone for things like flooding, tornados, hurricanes or earthquakes. Here is a list of recommended Home Mortgage Lenders online. It's important to use a reputable lender online to make sure your personal information is secure.

Buying a new home is a serious financial commitment with long-term consequences. Make sure you carefully consider all the pros and cons of any house before you decide to purchase it.