As the owner of a large portfolio of residential investment properties -- and head of her own realty firm --Karen Rittenhouse has guided her two sons on home-buying. She advised both to take the leap early, and they accepted her advice. One bought a house near his campus at the age of 19. The other bought a condo the day he finished grad school, at 24.

"If you're capable of buying, there are big benefits, including tax write-offs for mortgage interest and, ideally, future appreciation," says Rittenhouse, author of "The Essential Handbook for Buying a Home" and other real estate books.

Rittenhouse adds that it's crucial for most young adults to wait until they have stable income -- or substantial help from their parents -- before taking on property ownership. She says most should postpone if they expect to be moving in a few years. Also, she notes that people carrying a large amount of student debt can find it tough to obtain mortgage approval.

Even given those provisos, what makes a house purchase so compelling a step for many young adults?

As Rittenhouse notes, rents are high and rising in many desirable areas, due in large measure to the fact that new apartment construction slowed substantially during the worst of the recession, resulting in a landlords' market in many areas of the country.

"If you investigate the neighborhood where you want to live, you could find that it's now as cheap to buy as to rent there," she says.

Here are a few pointers for first-time homebuyers:

-- Look beyond family members for advice on whether to buy.

Young adults often seek counsel from their parents when considering major life decisions. But Rittenhouse says that while most parents are well-meaning, few are knowledgeable about the current real estate market.

"Most people buy only about two houses in a lifetime. You can't expect them to be up-to-date on all aspects of real estate, including home values and the mortgage approval process," she says.

Fred Meyer, a veteran real estate broker who sells property near Harvard University, says that in addition to family members, young buyers are wise to look to professionals for advice.

He recommends that you start with a one-on-one session from a real estate agent who's earned your trust. Also, find a reputable mortgage lender who will take the time to tutor you on the fundamentals of real estate finance and calculate how much you can afford to spend.

Joe Adamaitis, author of "Don't Be Denied," a book for mortgage borrowers, says that paying close attention to the loan approval process is now especially important for first-time homebuyers, given increasing federal regulations governing lending.

-- Buy for the future, to the extent possible.

Merrill Ottwein, a real estate broker and former president of the National Association of Exclusive Buyer Agents (www.naeba.org), says novice homebuyers are inclined to short-term thinking, and often fail to pay as much attention to their future plans as they should.

"Even if you don't want kids, it's a lousy idea to buy into a neighborhood with poor schools. You'll get a lot more appreciation if the home you own will one day be marketable to families with young children. There are always a lot more family buyers than individuals in most areas," Ottwein says.

He also recommends that first-time buyers rule out any oddball home that differs greatly from others in the same location. For instance, remove from your list the only house on the street without a garage, or any place that dwarfs the others because of an oversized addition.

"Don't mess with ownership of a property that has a strike against it from the beginning, like one set on a noisy roadway or one with an awkward floor plan. Stick to a quiet community and look for the classic model there," Ottwein says.

-- Don't push the panic button about buying your first home.

Just as the economy has its ups and downs, so do real estate markets. This volatility causes some first-time buyers to move toward their goal too cautiously, while others step on the accelerator out of fear that prices will rise out of their range.

Meyer recommends a methodical middle course between these two extremes.

How can you accurately determine if prices within areas that you're looking at are realistic or over-inflated? Meyer says that information on the local rental market can tell you a lot about asking prices in your target neighborhood and help protect you against overpaying.

"First, find the house you'd like to buy in the area of your choice. Then find a few very similar houses in the same area that are available for rental. If the rent is as high or higher than your mortgage payment for the like property, you're safe in buying," he says.

Another aim of this exercise, Meyer says, is to make sure that you could cover your mortgage payment in the event that you have to move sooner than expected and want -- or need -- to rent your property rather than sell it.

"In many areas, the rise in rental rates now makes buying a lot more desirable, assuming you qualify for a purchase and don't spend above your comfort level," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A couple in their mid-40s have lived in a cramped city apartment their whole married life. Yet in their dreams, they own a cottage in the suburbs with blooming flowers and a fenced yard where their young daughter could romp.

Despite a combined salary of more than $150,000, this pair has found it nearly impossible to save for such a home. To understand why, they went to see Sally Palaian, a clinical psychologist who specializes in helping people with money issues. She identified the primary problem as their impulsive shopping habits.

"The woman is an IT professional who can't resist spending more than $500 a month on clothes. And her husband, who works for a health care company, feels compelled to buy the latest and greatest electronic gadgets," says Palaian, who's helping the couple devise a plan to curb spending and save for a modest house.

Palaian, the author of "Spent: Break the Buying Obsession and Discover Your Truth Worth," has worked for more than a decade to help such couples as the above rein in spending.

As Palaian notes, overspending isn't a moral issue. However, when short-term gratification becomes a barrier to financial progress, it can become a significant personal problem.

Here are a few pointers for would-be homebuyers with a weakness for impulsive shopping:

-- Identify the triggers that cause you to make unwise purchases.

Palaian says one of the first steps toward management of shopping impulses is to recognize what prompts you to overspend.

For instance, she says that when tired or sad, many people turn to online shopping as a mood enhancer. Others seek immediate gratification from the momentary thrill of a good sale at a brick-and-mortar store.

Once you've identified the situations and items that make you susceptible, it's time to find other coping strategies, such as finding substitute activities that feel gratifying without breaking the bank. She recommends that compulsive shoppers seek to identify other, non-monetary "pick-me-ups."

"Instead of going out to shop for entertainment, maybe you'd enjoy listening to music, taking a walk in the park or dropping by to see friends," Palaian says.

-- Create and follow a spending plan until you get on track.

Many people think that keeping a budget as a laborious and needless task. But for those who must control spending to reach a big financial goal, it's an essential step to managing outflows.

"People who control their expenses have set aside funds for such intermittent costs as dental care and car repairs," Palaian says.

There are several free or reasonably priced programs to help you track and plan spending, including Mint (www.mint.com) and You Need a Budget (www.youneedabudget.com). But personal finance specialists say a pencil-and-paper system is often your best starting point, especially if you're new to the budgeting process.

"The advantage of a paper system is that it's very concrete, which helps a lot of people," Palaian says.

Judy Lawrence, a budget coach and author of "The Budget Kit: The Common Cents Money Management Workbook," suggests that as a first step you look through your checking account and credit card statements. Then write down what you've spent for the last three months, breaking out expenses into two broad groupings: mandatory and discretionary.

Mandatory costs include such items as car payments and child care expenses. Discretionary costs include clothing outlays and restaurant tabs.

"Don't be afraid of having a spending plan. This is simply a way to control small expenses now so you can savor bigger pleasures later," says Lawrence, who offers money management tips on her website: www.moneytracker.com.

-- Wait until your shopping impulses fade before you buy.

Are you a compulsive shopper who gets a kick from making purchases, but later regrets buying a lot of non-essential stuff? If so, Lawrence suggests you try what she calls "the 24-hour rule."

When going shopping (for anything but food and other essentials), leave your cash and credit cards at home. Make your selections, but give yourself at least one full day to decide which items are truly essential and then return to the store to purchase only these.

"Some people simply need a cooling-off period before they buy," Lawrence says.

-- Watch your gift and holiday shopping.

When it comes to gifts and holiday purchases -- which can be driven by emotion -- Lawrence advises clients to be especially cautious.

"Some people give large gifts because they want to feel loved or appreciated. But this practice can seriously compromise a savings plan. In addition, big gifts can make the recipients feel very uncomfortable, particularly if they can't afford to reciprocate," Lawrence says.

Before you buy any major gift, Lawrence recommends you write down how much you can afford and then use the "24-hour rule" to stay within your self-imposed limit. Also, watch out for emotional reactions that could cause you to exceed your gift-giving limits.

-- Give yourself visual reminders of a home-buying goal.

Although homeownership remains a paramount objective for many people, Palaian says it's easy for them to take their eyes off the prize when spending temptations beckon. That's why she urges wannabe homeowners to give themselves visual reminders to stay on track.

"Go through magazines to find an image of the sort of house you want and clip this to your credit card. That should help you pause before making an impulsive purchase that could threaten your savings program," she says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Last year, when the National Association of Realtors surveyed homebuyers throughout America, it found that single buyers had been especially hard-hit by the restrictive mortgage standards that began during the economic downturn.

According to the survey, the market share of single buyers declined from 32 percent in 2010 to 25 percent in 2013, and stringent lending standards were a major factor in the decline.

But Art Godi, a former president of the NAR (www.realtor.org), says restrictive lending practices are gradually easing and that real estate agents are finding better ways to help their clients to obtain the financing needed to fulfill their home-buying plans.

With both home prices and rental rates rising in many areas, Godi says an increasing number of homebuyers --including numerous singles -- are eager to leave their rental units and buy a first home as soon as possible.

Are you a single person who'd like to buy a home, but worry you'll be turned down because of less-than-stellar credit? If so, Godi recommends you seek mortgage pre-approval through a face-to-face meeting at the office of a local lender, such as a community bank or credit union.

"If you use a national bank, you usually don't get to talk directly to the lender. But with a local lender, you're more likely to have a chance to tell your story," Godi says.

Here are a few other pointers for single homebuyers:

-- Opt for a mortgage that keeps you within your financial comfort zone.

Many homeowners who faced foreclosure during the worst of the recession had used an adjustable-rate mortgage to finance their purchase. They were able to qualify for an introductory "teaser rate" on the home loan. But once the ARM adjusted upward, they were in over their heads.

Like all homebuyers, singles are now understandably resistant to taking an ARM, even though it could let them qualify for a larger mortgage than they could have obtained with a traditional fixed-rate loan. Still, some lenders are again beginning to promote ARMs.

As a single homebuyer, should you consider an ARM to increase your buying capacity? Merrill Ottwein, a former president of the National Association of Exclusive Buyer Agents (www.naeba.org), argues against that step.

"A fixed-rate mortgage gives you certainty your monthly principle and interest payments will remain constant for as long as you keep that loan. But with an ARM, you have interest-rate risk. And if rates rise, you get smacked," says Ottwein, a longtime real estate broker who works solely with homebuyers.

He also warns all buyers, and especially young singles, against taking any mortgage (fixed or adjustable) that feels uncomfortably large.

"People who are house-poor suffer a lot of fear and anxiety about making their payments, which is a terrible way to live," Ottwein says.

Even in an era of tight credit, many single buyers who make it through the mortgage pre-approval process are surprised to realize that they're qualified for a larger mortgage than anticipated. To avoid over-borrowing, Ottwein suggests you set your own upper limit rather than letting the lender do so.

"Decide on your ceiling before you go looking at houses or condos. If you need a reminder, write that number on an index card and carry it around with you," he says.

-- Look for a home that a roommate could share.

Young singles used to sharing rental housing with roommates are often eager to live alone when they buy a home. Despite that, Ottwein recommends they consider buying a property they could share with a boarder, which would allow them that option in the future.

"Down the line, you might want an extra bedroom you could rent out to help offset your mortgage payments. In addition, if you choose to sell, a house or condo with two or three bedrooms is more marketable than one with just a single bedroom," Ottwein says.

What sort of floor plan works best to accommodate a roommate? He recommends you look for a place with a bedroom suite that includes a private bath. Also, a separate, outside entrance to the suite is ideal.

-- Choose an energy-efficient place.

Some expenses tied to homeownership, such as taxes and insurance, can't be avoided. But home shoppers can more easily contain their utility bills if they choose a property that's well-insulated and has substantial, double- or triple-pane windows.

Before they commit to buying a particular home, Ottwein suggests that buyers ask their home inspector to evaluate the energy efficiency of the property they've chosen. He also recommends they ask the current owners for copies of their utility bills.

In addition, Ottwein advises buyers to update themselves on the topic of energy-efficient housing through online resources. One website that provides an array of information on the topic, www.energystar.gov, is sponsored by the U.S. Department of Energy, along with the U.S. Environmental Protection Agency.

-- Make your friends a priority when you buy.

If you're like most single people, your personal life is of vital importance to you. But even though you may outpace your friends in achieving homeownership, you won't want to move to an area that makes it difficult to keep up your social life.

In an age of texting and email, it's not necessary to live around the corner from friends to stay in close touch. But, if possible, you'll want to avoid buying a property many miles from friends, even if that's your most affordable option, Ottwein says.

"You won't be happy if you're isolated from your friends. So don't buy a house so far away that you'll strain these important relationships," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)