1. Understand the Costs: Purchasing a home isn't just about the mortgage. There are also costs for maintenance, property taxes, insurance, and potentially homeowner association fees. Be sure to budget for these when considering what you can afford.

2. Home Maintenance: Homes require ongoing maintenance to keep them in good condition. This can include everything from minor repairs to major improvements. It's important to budget for these expenses and to have a basic understanding of home maintenance.

3. Insurance: Homeowners insurance is a necessity, and it's crucial to understand what your policy covers. Policies can vary greatly, so make sure you know what is and isn't covered, such as damage from natural disasters.

4. Property Taxes: Be aware of your property taxes, as these will be an ongoing expense. Property tax rates can vary by location, so it's important to factor this into your budget.

5. Know Your Home: Understand the basic systems of your home, such as the plumbing, electrical, and HVAC systems. Knowing how these work can help you identify potential issues before they become major problems.

6. Resale Value: Consider your home's potential resale value. This may affect decisions about improvements or additions, and it's also something to think about if you anticipate moving in the future.

7. Neighborhood Dynamics: Research the neighborhood before buying. Look at crime rates, school quality, and future development plans. The neighborhood can significantly impact your living experience and the value of your home.

8. Emergency Fund: It's recommended to have an emergency fund to cover unexpected home expenses. These can come up suddenly, such as a broken appliance or a leaking roof.

9. Legal Responsibilities: As a homeowner, you have certain legal responsibilities. For example, you're responsible for maintaining the sidewalk in front of your home in some places, and you could be liable if someone slips and falls.

10. Building Equity: Understand how you build equity in your home. This comes from paying down your mortgage and also from increases in your home's value over time. Building equity can be a significant part of your financial strategy.

Being a homeowner can be rewarding, but it's also a lot of responsibility. It's important to understand what you're getting into and to be prepared for the challenges that can come with homeownership.