In many parts of the country, rental cost increases are outpacing income gains. That's putting an unsustainable squeeze on renters, according to Lawrence Yun, chief economist for the National Association of Realtors (www.realtor.org).

As Yun says, rapidly rising rents make it tough for renters to save enough for a down payment on a property purchase. Yet, in moderately priced markets, those able to buy a first home often find that their mortgage payments are no higher than were their rental costs.

Michael Connerly, the author of "How to Win With Real Estate," and a blogger at wwww.usa.homebuyersguide.com, says that aside from very expensive cities like New York, a condo remains the least expensive point of entry into homeownership.

But he cautions that those seeking to sell a condo can face challenges, even if it's well-priced. That's especially true if the unit is located in a large building or complex where many properties of similar size and floor plans are available for sale.

Are you trying to liquidate a "look-alike" condo in order to move to a larger place? If so, Connerly says it's wise to make sure your listing agent differentiates your unit from the others based on its positive attributes.

"Your condo should be more appealing than others if it's on an upper floor with less noise or a nicer view. Also, highlight the distinction if it has a balcony or is a corner unit, which means it has two outside walls rather than one," he says.

Condo sellers who face stiff competition have to think strategically, as do their listing agents. Here are a few pointers:

-- Make sure you price with cash-tight buyers in mind.

Those seeking to sell a condo in an area where many new units have been built need to be especially careful not to set too high a price, or their property could sit unsold for a lengthy time, says Mark Nash, author of "1001 Tips for Buying & Selling a Home."

Those planning to sell in a complex where many condos are on the market should do a careful review of what other units -- known as "comparables" or "comps" -- have sold for during the last three to six months.

Suppose for example that you're the owner of a condo that overlooks a car dealership. If so, don't try to price as if your unit is worth as much as another one in the same complex that overlooks a beautiful garden with a fountain.

-- Raise awareness of your unit with local real estate professionals.

Because the U.S. real estate recovery is still uneven, some condo markets are much stronger than others, says Dorcas Helfant, a real estate broker-owner and former president of the National Association of Realtors.

To increase showings, Helfant recommends you ask your listing agent to hold one or more "brokers' opens" at your place. These are open houses to which all real estate agents in the area are invited. As a magnet, such events often feature food, entertainment or both.

"Agents who've had the chance to preview a place and come away impressed are more likely to take their clients by to see it," Helfant says.

-- Add spark to your condo with upgrades.

Connerly says it's worth it to spend a few thousand dollars on pre-sale upgrades if you're competing with many other sellers with similar units.

"The biggest bang for your buck is always paint, which makes any place look sharp. But there are also some other fairly inexpensive steps that can be especially helpful in a competitive market," he says.

For example, many condo buyers are impressed with kitchen upgrades, including granite countertops, which have come down in price in recent years, as well as hardwood cabinets.

"Just replacing your cabinet fronts alone can make an old kitchen look stunning. But to make the room seem larger, avoid dark wood in favor of oak or ash," Connerly says.

-- Make your condo appealing to young buyers.

"If your condo is located in a moderately priced building in a popular area, it should appeal strongly to young buyers eager to shed their landlord," Nash says.

Besides the usual print and online advertising materials, Nash recommends that your listing agent develop community "resource lists" with your target audience in mind.

"For instance, young professionals new to your area could value a lengthy list of nearby restaurants, clubs, gyms, movie theaters and grocery stores, along with ratings and reviews," he says.

-- Don't stoop to offer tangible rewards.

During the real estate downturn, some condo sellers offered "tangible incentives" in hopes of beating other sellers in the same building. For instance, they'd offer to throw in a new iPad or large-screen TV to sweeten a deal.

But Connerly cautions that such offers can draw the wrong type of buyers.

"Tangible rewards make you look desperate and therefore usually attract low-ballers rather than serious bidders, which can really hurt you at the bottom line. So it's better to spend your money on upgrades," he says.

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

According to Dr. Andrew Cherlin, a Johns Hopkins University sociologist who specializes in marriage and family issues, Americans value marriage more highly than ever. They're just willing to wait until they have sufficient financial security to comfortably afford a property.

Obviously, there's more to making a good home-buying decision than a sufficient income stream. As Eric Tyson, a personal finance expert and co-author of "Home Buying for Dummies" says, it's also important for couples to make sure they're committed to each other.

"Remember that buying a home is going to add financial stress to your relationship," he says.

Tyson says couples should also be sure that they both intend to remain in the same area for at least three to five years before deciding to buy. That usually means both have completed their graduate or professional schooling and intend to keep working in the same metro area for at least that long.

Still, Tyson says many newly married couples with enough resources to buy a home still need a great deal of discussion before making a final property decision.

Couples can have very divergent views on the best setting for a home, and whether it should be in a city, suburban or rural location.

Couples of all ages need to bridge their differences before heading out for a home-shopping tour. Otherwise serious disputes could develop later.

"Pick a time to share thoughts about your individual priorities and make an actual appointment," Tyson says.

Here are a few other pointers:

-- Make your first move a meeting with a mortgage lender.

These days, mortgage lenders typically conduct nearly all their business through phone calls and email, with an occasional fax thrown into the mix. Technically, you never need to meet your lender.

But Ronald Phipps, a former president of the National Association of Realtors, (www.realtor.org) recommends that even before you go home-shopping, you arrange a face-to-face meeting with a lender to discuss your financing plans and gain mortgage pre-approval.

"Though it's uncommon for people to see their lender personally, it's highly advisable," he says.

As Phipps says, buyers who meet face-to-face are more likely to get extra time and faster processing for their mortgage application, as well as insights into the changing mortgage market, with its rigid standards.

"If your parents last bought a house many years ago, they probably can't give you much guidance on financing," he says.

-- Don't rule out purchase of a place with outdated decor.

To get the most for their money, Tyson says money-tight homebuyers may wish to consider a category of properties a notch above a classic "fixer-upper." These are typically well-maintained properties with solid electrical and plumbing systems. But their owners, though practical, have neglected them cosmetically.

"For instance, maybe the owners hung onto their old outdated-looking kitchen appliances because they're still functional. And the same with out-of-date bathroom tile colors and fixtures," Tyson says.

He says young buyers willing to overlook a dated kitchen or bathrooms can sometimes get a good deal on a home they're willing to improve themselves at a later date. But unless you're extremely handy, he cautions against taking on a home that needs major infrastructure improvements.

He recommends a thorough inspection to determine whether a home has fundamental problems -- such as a crumbling foundation. These are far more costly to fix than an unappealing decor.

-- Screen for homeowners eager to sell.

Tom Early, a real estate broker and past president of the National Association of Exclusive Buyer Agents (www.naeba.org) says that when it comes to real estate, time is money. Sellers who have already moved and whose property has already gone vacant may be especially willing to negotiate favorable terms for buyers.

"Usually, you don't have to do anything sneaky or underhanded to find out what motivates the sellers. That's because owners sometimes broadcast their desire for a quick sale with ads that read: "Seller Motivated" or a similar message," Early says.

If the ads don't reveal the sellers' degree of urgency, a few casual inquiries placed by your real estate agent to the listing agent for the property might do so.

"Real estate people are gregarious. Word gets around and soon your agent can find out why a house is on the market. Maybe the owners are building a custom-built house and will be moving there in just a couple of weeks," Early says.

He says a dedicated buyer's agent can be especially helpful to those making a first home purchase.

"A couple who is flexible and has all their financing lined up can sometimes get a bargain price on a dream nest where they can start a family and live together for many years," Early says.

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

Luke Juday grew up in a spacious house in a quiet suburb. But at age 25 he and nearly all his friends live small in urban apartments. And they intend to never move to suburbia.

"The suburbs are extremely boring," he says.

Juday says his strong preference for urban living mirrors that of many in his age group. How does he know? Because as a demographer for the University of Virginia, he authored a new study titled "The Changing Shape of American Cities," which relies on census data to show how ever more young adults are gravitating to walkable town centers and cities.

"The trend is clear in every single U.S. city. I think it's a major cultural shift," he says.

Though many of Juday's friends are still renters saddled with a lot of student debt, he says some are beginning to buy property, usually in the form of condominiums, in the city, and he expects one day to follow suit.

Fred Meyer, a long-time real estate broker whose clients include many of Juday's millennial generation, underscores their strong preference for urban living and their willingness to live in a condo to gain an ownership stake in the city.

"What often happens is that they start with a small condo and move to a larger one as they get older," Meyer says. But he cautions condo buyers of all ages to exercise considerable care when selecting a unit to purchase.

"Before you buy, make sure you love that condo with both your heart and soul. If you love it completely, the odds are others will love it too. That means that whenever you eventually put it on the market for resale, it should be easier to sell," Meyer says.

Here are a few pointers for condo buyers:

-- Search for a building in a community with a resilient job base.

The vitality of any local real estate market is tied closely to the employment strength of the area. But as Meyer says, homebuyers shouldn't count on a single employer to keep the local economy robust.

"To guard against the impact that layoffs can have on property values, buy in an area with multiple major employers," he says.

How can you investigate the strength of a local economy?

"One way is to go to the offices of the local Chamber of Commerce and ask what's happening to jobs in the area," Meyer says.

By avoiding an economically depressed region, you not only increase your chances of owning a salable condo, you also increase the likelihood of living there happily.

-- Review data to validate your hunches about the right condo building.

Your subjective reaction to a condo building can help with the selection process. But you and your real estate agent will also want to seek out objective information to better analyze the strengths and weaknesses of a particular building.

"Ask your agent to look at the resale history for the building going back as far as four years. Take note of the median number of days it has taken to sell a unit there. The more days it takes to go from list to sell, the less liquid the building," Meyer says.

-- Show skepticism about a building with rock-bottom condo fees.

Nearly all condo buildings impose "condo fees" on their owners. Among other expenses, these monthly charges cover the cost of routine upkeep on a building and its grounds, along with support services.

John Rygiol, a real estate broker who works exclusively with buyers, says some purchasers mistakenly shop for a building with the lowest possible monthly fees. But he warns against that approach.

"A building with very low fees could actually decline in value, due to poor routine maintenance. That could make your unit hard to sell in the future," he says.

In addition, check the "reserves" of the building --meaning the amount of money set aside for major renovations.

"Suppose a building needs a new roof and there's no money for that purpose. That means that you and other owners might suddenly get hit with a big special assessment," says Rygiol, who's affiliated with the National Association of Exclusive Buyer Agents (www.naeba.org).

-- Avoid buying in a building with numerous renters.

Meyer is wary of condo buildings where a large number of units are not owner-occupied. That's because renters have a lesser stake in the maintenance of a property.

"Owners who live in their units feel a natural pressure to ensure there's sufficient money available for upkeep. Renters feel no such natural pressure," Meyer says.

What percentage of owner-occupants is enough? That depends on the location of the building. In most cases, Meyer says you'll want to see more than half the units occupied by owners. However, this rule may not hold in a resort community where seasonal rentals are the norm.

Even though it's not wise to choose a building with a large number of renters, Meyer says it's also important to avoid a building that prohibits owners from renting out their units should they wish to do so.

"Imagine you had to move suddenly for a job transfer and you couldn't rent your unit. You shouldn't give up that prerogative," Meyer says.

-- Shop for the best available unit in the building of your choice.

Even in the ideal condo building, not all units are created equal. Some are much more salable.

"Two units could have the same exact floor plan. But one that overlooks a beautiful park will be worth a lot more than one which overlooks a parking lot," Meyer says.

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