The first-time homebuyer tax credit is a big incentive to look for a home right now. First-time buyers can get a federal tax break of up to $8000, if they strike a deal before April 30th.

There’s a lot of information and details that may be confusing for the first-time buyer, and it pays to do a little research on your own finances before checking out homes on the market.

The nation’s leading provider of consumer reviews on local service companies, Angie’s List, consulted highly-rated real estate agents for these tips before you buy home:

• Check your credit: Pull your credit report and double check that the information is accurate and up-to-date. If there are any discrepancies, work with the credit reporting agency to have those cleared up before you inquire about a loan.
• Are you approved? Get pre-approved for you loan before you start looking for a house. You should be able to produce: good credit, stable employment history, a positive debt-to-income ratio, document of your assets, and at least three percent of the home’s sell value for down payment.
• What can you afford? You may qualify for a higher amount that you actually want to pay, so it’s important not only to check with a mortgage agent to get pre-approved, but to know what the payments will be at that amount and that you are okay with it. Remember to factor in homeowner’s insurance, property taxes, utility bills, moving costs, maintenance costs and any upgrades that you’ll need to make.
• What do you want: Make a list of what you want and don’t want. Search for homes online to get some ideas. Are you looking for a small home or a home where your family can grow?
• Location: Know the area where the property is located. If you see a lot of foreclosure signs in yards, it could be a sign that the area is declining in value. Take a look at the home’s surroundings.
• Inspect before buying: In most cases you will be able to inspect the entire property before buying. Hire a professional home inspector to inspect the entire house so you know exactly what you are getting into. Most foreclosed properties come “as is”.
• Do your homework: Make sure you find out if the property has any unpaid liens. If you don’t, unpaid lenders could come after you to try and collect what they are owed. Call your local building department. They can tell you if there any building permits that were never closed out.