Throughout the past decade, the housing market has had quite a few ups and downs, from the housing bubble to the housing crash. Thankfully, the 2016 housing market looks stable, so now is the perfect time to purchase a home.

Due to the fluctuations in the housing market in recent years, there have been several changes to the home buying process that buyers need to be aware of. Brandon Cornett, founder of the Home Buying Institute, has compiled a guidebook to today’s home buying process.

The 2016 Home Buying Guide divides the process into 11 manageable steps to keep buyers from getting too overwhelmed. It covers everything from saving money to eventually closing the deal. If you’re thinking of buying a home in the near future, here’s a brief look at the first three steps.

1. Save Money: This first step is crucial. You’ll need to cover quite a few expenses, including the down payment and closing costs. Since down payments can range from 3 to 20 percent, you’ll need to find out which mortgage loan works best for you. If your down payment is less than 20 percent, you’ll most like have private mortgage insurance (PMI) costs as well. To cover these costs you’ll need to cut luxury spending, like frequent trips out to eat, and stick to a monthly budget. Cornett also suggests setting up a separate account for your housing fund.

2. Determine Your Housing Budget: Before you start looking at houses, decide how much you can spend on a home. To get an estimate, add up a list of your monthly expenses. You’ll need to include car payments, credit card and loan payments, medical bills, insurance costs, grocery and other shopping costs, your monthly savings or retirement budget and any entertainment expenses that you don’t want to give up, like vacations. Cornett offers some helpful tips on how to determine your housing budget after taking these expenses into account.

3. Review Your Credit Reports and Scores: Credit reports and credit scores are important for applying for a mortgage loan. While some buyers can pay cash, most home buyers will need a mortgage loan. If you’ve been late paying your bills or if you’ve filed for bankruptcy, your credit score will be lower because of these negative entries. In some cases, Cornett says that negative items have expired and you can file to have the entries removed. Higher credit scores can save big bucks because you can qualify for a lower interest rate.

Check out the full 2016 Home Buying Guide for all the details. The home buying process might seem overwhelming at first, but taking it step by step will help you make smart decisions and buy the best possible home for you and your family. If you’re interested in buying a home in Atlanta, visit www.atlantarealestateforum.com.