Planning to buy a home? 7 tips to get you started.

If you've got a hard date for when you need to move, that affects how much time you have to deal with all the other home buying steps. For instance, are you moving because of a new job, or because you're expecting a baby? Are you downsizing due to retirement? Or are you renting and want to move before your lease is up? These and other factors can affect your target move date.

Tip: If you also need to sell your current home, consult a real estate agent as soon as possible. An experienced agent can give you an idea of the market and how much time you'll need to prepare and sell your home.

What are your must-haves? You'll need to know these upfront so you can plan and find the right fit. For instance, do you have a specific location that you want to focus on? How big a home do you need, especially how many bedrooms and bathrooms? Do you need a large yard? Will you want a garage or off-street parking for one or more cars? What about a workshop for a family member, or an in-law suite? Make a list to help clarify all your priorities.

Tip: Defining your priorities can help you decide on a budget for your new home. Then search for a real estate agent who is experienced with the location and type of home you're looking for.

If you already own a home, you probably have a good idea of how much you can afford to pay each month. If you're renting, keep in mind that as a homeowner, you'll also be responsible for taxes, insurance and maintenance costs. Then factor in what you may have saved up for a down payment to estimate a home price.

Tip: Bank of America's Affordability Calculator is a handy tool that can help you decide what you can afford.

Most people need a mortgage to purchase a home. While you don't need perfect credit to get a mortgage, generally, the better your credit is, the lower your mortgage rate may be. You should also check your credit history to be sure there are no surprises. If there are errors, contact the credit reporting agencies to fix them.

Tip: Your payment history and the amount you owe are the largest components of your credit score. If your score is lower than you want it to be, try paying off as much debt as possible and making sure all your regular payments are made on time.

Prequalification is an important step in understanding what you can actually qualify to borrow. A lending specialist can explain more about different programs, your required down payment, and how the type of mortgage you choose may affect your monthly mortgage payment.

Tip: Bank of America makes it easy to apply online, by phone, or in person.

While it's possible to buy a home without a real estate agent, having an experienced agent can be a huge help. Your agent's knowledge of the market and experience with real estate transactions can help guide you from your initial search through closing.

Tip: If possible, get recommendations from friends or family, then interview a few agents. You can also find the right agent for you on the Bank of America Real Estate Center®.

Don't wait until you find a home to start planning your move. Start researching and getting cost estimates as soon as you can. Will you hire movers or do it yourself? What size truck will you need? Then start packing items that aren't strict necessities right now, such as out-of-season clothing, extra linens, decorative items and books. If you can afford it, consider renting a storage unit for a few months so you don't have to live among stacks of boxes.

Tip: If you're also selling your current home, decluttering and getting ready to market it can give you a chance to get started on packing.