In apartments everywhere, young renters are afflicted with a common anxiety: Whether they'll ever get off the rental treadmill to buy a home of their own.

Rising home prices, sizable student loan payments and sluggish improvements in pay combine to make it extremely tough for many young adults to break into ownership. Add to that the reality that rents are high in many communities, making it hard to amass the savings necessary for closing costs and moving expenses.

To make matters worse, the "starter home" segment of the real estate market -- the bottom 25 percent -- now has the fewest available properties, according to Sid Davis, a real estate broker and author of "A Survival Guide For Buying a Home."

Jim Blankenship, a veteran financial planner who's advised numerous young clients on their real estate plans, says, "To afford a home and qualify for a mortgage, sacrifice is often necessary."

Here are a few pointers for first-time buyers:

-- Seek to reduce your debts with extra income.

According to the latest Federal Reserve statistics, overall consumer debt, including car loans, is now relatively stable. But student loan debt continues to soar and now approaches $1 trillion.

For anyone seeking to progress financially, cutting debt -- including credit card balances -- is an absolute must.

"The interest rates charged on most credit cards are ridiculously high. All that interest can eat you alive," Blankenship says.

Unfortunately, many 20-somethings make only enough money to meet necessary living expenses. They're very limited in their capacity to pay off debt or generate savings for a down payment. Given this reality, Blankenship recommends that would-be buyers consider augmenting their income.

"Think about taking a second job. Or try to get overtime at your regular job, assuming overtime is available," he says.

-- Conserve funds by limiting your wedding costs.

Kristin Meador, a real estate broker who often works with young buyers, wrote a book designed to help clients save substantial amounts on their wedding costs, "How to Have a Wedding Without Spending a Dime: Or at Least Very Little."

The book grew out of money-saving strategies Meador developed while helping relatives and friends stage their weddings. It provides pointers on how to cut costs for a range of wedding-related expenses, from invitations to rings to the reception and honeymoon.

"When you're trying to save for a house, it makes no sense to spend $500 or more for a wedding dress," Meador says.

Her book itemizes a number of ways to hold an inexpensive yet tasteful wedding, including having the reception at a lovely local park or community center rather than a swank hotel.

The expense of an average wedding is now hovering around $26,600 -- funds Meador believes would be better spent on a home, assuming the property is carefully selected.

"A lot of parents with money to help their grown kids would rather their funds go toward a home than a fancy wedding," Meador says.

-- Try to slash your discretionary expenses.

Most young adults who live in rental units are very sensitive to their monthly housing costs. But they're typically less aware of how much money they're spending to eat out at restaurants, Blankenship says.

People in their 20s may also spend what he calls "shocking sums" on clothes, as well as entertainment. He recommends that would-be homebuyers comb through a recent month's worth of spending to realize where they could cut back.

-- Consider selling a car to plump up your savings account.

A new or nearly new car is often the first major purchase for many young adults. And usually the car is financed with a hefty loan. But mortgage lenders often frown at the sight of a prospective homebuyer driving up in a late-model vehicle.

"Lenders know that a couple who's financing one or more cars will likely find it tougher to qualify for a home loan," Blankenship says.

Even if you drive an older vehicle and have no car loan, chances are you're paying a substantial amount for car insurance and repairs, not to mention gas.

Blankenship says it's a wise idea for young couples bent on homeownership to ponder the idea of selling one vehicle. Consider public transportation or carpooling as an alternative to commuting alone.

-- Consider the possibility of shared housing on a temporary basis.

Moving in with a family member for a year or so could help you cut rental costs substantially. Perhaps an elderly relative with a large house would let you live there rent free in exchange for help with grocery shopping and trips to the doctor.

Davis says he's worked with a number of young buyers who've obtained substantial savings through a housing-for-services swap.

"You don't have to live with your aunt or another elderly person forever. Just doing so temporarily could help you save sufficiently to pay down enough debt to qualify for a mortgage," he says.

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

In many popular neighborhoods, there's a significant shortage of fairly priced houses available for sale. But real estate specialists say open-minded purchasers can still sometimes track down a decent deal, even in a sizzling real estate market.

"Hidden gems are becoming further and further between. But they're still out there," says Daren Blomquist, a senior vice president for Attom Data Solutions (formerly RealtyTrac), which follows housing markets all over the U.S.

"There are still deals out there on bank-owned properties that have been in foreclosure for a long time and are sitting unsold and vacant," he says.

Besides bank-owned properties, Blomquist advises bargain-minded homebuyers to consider "stale" houses, properties that have languished unsold for a lengthy period. Often these are homes that have been shunned by potential purchasers because they were significantly overpriced when they first hit the market.

Joseph Schiro, a veteran real estate broker, says the mere fact that a home is vacant for a time can raise suspicions on the part of many buyers.

To assist his home-buying clients considering purchase of a vacant property, Schiro says he often seeks to determine if its owners have an outstanding mortgage on the place by looking at publicly available land records.

"Sellers with a mortgage who were overpriced in the past are usually a lot more motivated to sell than people who own a home free and clear," according to Schiro.

Because vacant property is superficially less appealing to a cross-section of buyers, Schiro says those with the vision to look beyond the must and dust of a vacant place can sometimes do well on price.

"When it comes to a vacant home, some buyers miss out because they lack the creativity to envision its potential," he says.

Here are a few pointers for buyers:

-- Attempt to learn about a vacant home's former occupants.

It's tough to gain details on a house that's been vacant for months, especially if its owners have already moved. It's still harder if the empty property has fallen into the ownership of a bank through foreclosure.

"The bank won't tell you anything," says Merrill Ottwein, a veteran real estate broker and past president of the National Association of Exclusive Buyer Agents (www.naeba.org).

To get the scoop on a vacant property that interests you, your best sources are often neighbors.

"Those still nearby probably know all the skeletons in the closet. They'll spill all they know and tell you if the people who lived there kept up the place before they moved out," Ottwein says.

Most people who must leave due to foreclosure don't deliberately damage their home. Still, their financial problems could mean they lacked money for crucial maintenance chores during their tenure in the property, he says.

-- Don't rule out a "pre-inspection" of a vacant place.

Perhaps the property you like has gone unsold for so long that you're nervous about hidden defects. In such cases, Ottwein advises you to consider hiring a home inspector to take a preliminary look.

He tells the true story of one of his clients, who wanted to learn more about a single-story ranch-style house that had gone vacant nine months before he spotted it. The house was listed at $50,000 below other comparable homes in the same neighborhood and he was suspicious as to the reason.

On his agent's advice, the client spent $200 for a cursory home inspection. This revealed that the house had a serious crack in its foundation, a very expensive problem to fix.

-- Ensure that the utilities are turned on when the inspection is done.

Dorcas Helfant, the broker-owner of a realty company, says cost-conscious banks that own foreclosed property often shut off utility service to the vacant homes they own, including gas, electric and water. But a lack of utility service poses a challenge to home inspectors.

"It's actually pointless to do an inspection when the utilities are off. You can't tell if the cooling, heating and plumbing are functioning correctly," says Helfant, a past president of the National Association of Realtors (www.realtor.org).

Helfant strongly recommends that buyers always have a home inspection on a vacant property -- if not before their bid is submitted, then after. And even if you have to pay to get utility service restored, she says it's worth the expense.

"It shouldn't be too costly to get the utilities restored for just a five-day period or so," she says.

-- Take neighborhood property values into account before making a bid.

"Before you shape your offer, you and your agent should take a careful look at the recent sales history in your neighborhood. In hot markets, it's imperative that you be extra vigilant to avoid overpaying," Ottwein says.

Ideally, you'll want to examine at least three similar properties that have sold in the immediate area in the past three to six months -- adjusting for differences, such as a larger garage or a second fireplace.

Although you'll want to take a home's condition into account when judging its market value, Ottwein cautions against seeking out-of-proportion discounts to compensate for superficial shortcomings.

-- Don't spend more than you can afford, even for a vacant house.

Brokers like Schiro worry that their home-buying clients, empowered by current low mortgage rates, will one day live to regret spending more than they can afford for a vacant house in a prestige neighborhood just because they bought it at a slight discount.

"No matter the discount, you never want to buy far out of your comfort zone," he says.

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

It's no secret that many young people are marrying later or not at all. Yet, surprisingly, many want to buy a home anyway.

"More young folks are delinking homeownership from marriage. They want the personal freedom of staying single along with the predictability of not facing constant rent increases," says Merrill Ottwein, an Illinois real estate broker and past president of the National Association of Exclusive Buyer Agents.

Many of these young would-be buyers want to live in cities.

"I've never had a single client who says they want to live as far as possible from town. Once they're out of school, they want a surrogate community where they can meet their friends on foot," says Deborah Rutter, a real estate broker who sells homes near the University of Virginia campus.

Sid Davis, a veteran real estate broker and the author of "A Survival Guide for Buying a Home," doesn't advise just any single buyer to purchase a property. He recommends against buying if your job is rocky or you expect to go on to graduate or professional school in the near future.

"If you could be moving in five or fewer years ... you probably should abstain from buying a house now. That's because your transaction costs could more than wipe out any appreciation you might enjoy," Davis says.

Be especially careful to avoid short-term ownership of a brand-new house, says Davis, who points out that a new property typically requires some expensive initial fix-up costs, such as landscaping, fencing and window treatments.

But if your life is on a steady course and you perceive that real estate values are on the upswing in the area where you live, don't let your single status keep you from making a purchase.

Here are a few pointers for single buyers:

-- Stay within your financial comfort zone.

Years after the real estate downturn, mortgage lending standards remain rigid. Still, as Ottwein says, it's possible for single homebuyers, or anyone, to borrow more than is prudent for their lifestyle.

"Remember that the people who make mortgages know nothing about your spending priorities," he says.

Also, keep in mind that as a single person living alone, you're financially more vulnerable to the impact of an unexpected job loss than someone with a second wage earner supporting the household.

"Single people should be especially cautious about maxing out on a home loan. Go ahead and buy a place, but avoid becoming 'house poor' because of it," Ottwein says.

-- Seek a "roommate suitable" property if you can afford one.

After sharing space with roommates in college dorms or living with friends in rented apartments, you may be looking forward to living alone in the home you buy. Still, Ottwein encourages you to consider a property that would be attractive to potential roommates, should you one day need the rental income to offset your mortgage payments.

What sort of property would be most alluring to roommates? Ottwein suggests you look for a place with a bedroom suite that includes a private bath -- so a roommate could live more autonomously. A separate, outside entrance to the suite would be ideal. And a property located near a college or university campus, where demand for rentals is strong, could also be a good bet.

-- Seek an energy-stingy home.

After moving in, many first-time homebuyers are surprised by the size of their outlays for home upkeep. They hadn't expected to spend so much for everything from plumbers' bills to lawn fertilizer. The size of their utility bills also comes as a shock.

Obviously, some costs associated with homeownership, such as taxes and insurance, are unavoidable. But home shoppers can more easily contain some costs by selecting an energy-efficient property that's well insulated and has substantial, double-pane windows, says Davis, author of "Your Eco-Friendly Home."

"Don't try to project your future energy costs based on what a home's sellers have been paying during the last 12 months. Energy prices are always subject to the vagaries of the market. Plan for the worst-case scenarios," Davis says.

-- Factor your social life into your buying plans.

If you're like most young single people, your social life is hugely important to you. Even if you expect to outpace your friends in the quest for homeownership, you won't want your move to result in social isolation.

You don't have to live in the immediate vicinity of your friends to stay in touch. But you'll want to avoid buying a property many miles from your closest friends, even if that's the most affordable choice.

"Granted, you can probably get more square footage for the money if you move far out of the city. But very few singles are happy rattling around in a big house if they're socially isolated because they live an hour away from their buddies," Ottwein says.

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