Before you fulfill your dream of becoming a homeowner, evaluate your life and finances to make sure you're ready.

You've probably heard that current housing market conditions make it a great time to buy a home. It's true -- affordable homes, historically low interest rates, and the $8,000 homebuyer tax credit have encouraged many people to purchase their first places. But that doesn't automatically mean it's the right time for you to buy a home. You don't want to be stuck with a house you're not really ready for, so don't let the market dictate your decision. Before buying a home, ask yourself some questions to determine if the timing is right: Do you have a good credit score? Is your job secure? Can you stay put for a few years, at least? If the answer to these questions is "no," it might make more sense to wait until your life and finances are more stable. When that time comes, homeownership will be much more manageable and enjoyable.

NEXT: The cost of owning a home is more than just the purchase price >>

• Ask yourself these questions before deciding to buy
• Learn four things you need to buy a home, and two you don't need
• Read essential tips for first-time buyers from Sandra Rinomato, host of HGTV's Property Virgins
• Get tips and advice on buying your first place in FrontDoor's First-Time Homebuyers Guide