It's no secret that our economy is in a tough place right now - money is tight, people are cutting back on expenses and spending.

And yet, there are people who are still buying homes. In fact, the federal government's new extended and expanded homebuyer tax credit makes purchasing a home rather attractive to a large number of potential homeowners, who are racing against the clock to get under contract by April 30, 2010, and close by June 30, 2010.

For many homebuyers - not just the first-timers - money is a concern. Many want to buy a home without too much extra expense - perhaps they have spent months or years saving enough for a down payment for their first home and any additional expenses just eat further into their savings and liquid assets. There are, however, a number of places NOT to cut costs on your real estate transaction.

Yes, buying a home is expensive - probably your single largest investment - but cutting costs on these 5 items can cost you even bigger in the long run.

What are five of the MOST important areas NOT to cut costs? Click here to continue reading and find out more...

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Maura Neill, ABR, CRS, MA
REALTOR® Partner - The Gebhardt Group