If you’re still renting your place, the thought of buying a home can feel pretty overwhelming. A recent TD Bank survey of first-time homebuyers found that 64% of people who have never owned a home are concerned about affordability due to high mortgage rates. Despite those worries, nearly half are working to save up for a down payment.

If you’re one of them, read on for some money-smart moves that can put you on the path to successfully buying a home.

Check your credit, work on it

The higher your credit score, the better the interest rate on your mortgage.

• Pull your reports: Thoroughly understand where your credit stands by pulling a free copy of your report at AnnualCreditReport.com.

There are three main credit reporting bureaus in the U.S.:

• Experian

• Equifax

• TransUnion

It’s wise to look at all your reports because you never know which a lender will analyze.

• Fix and then monitor your credit: In addition to contacting a bureau if you spot any mistakes, follow these steps to keep this step whether you’re trying to buy a house or not — you can make or break your credit by making your payments on time every month.

• Take advantage of free credit monitoring tools: Many banks have free credit monitoring tools built into their mobile apps, giving you the ability to check your credit score easily and more frequently.

Nail down your budget

When you’re building a budget to narrow your search for properties, don’t just think about how much house you can afford, but how much in recurring costs you can handle once you’ve purchased your home. Consider these key items:

• Principal and interest: This will be the bulk of your monthly payment, and if you take out a fixed-rate mortgage, this chunk will never change over the course of the loan.

• Homeowners insurance: How much you’ll pay to protect the property can vary widely. If you’re buying in an area with higher risks for flood, wildfire or other severe weather, you’ll need to be prepared for higher, ever-increasing premiums.

• Property taxes: Your property taxes will look different depending on the location, and, in most cases, will increase as your home’s value increases and/or your local government needs to raise them for their budget.

• HOA fees: If you’re looking at condos or homes in a homeowners association, ask how much you’ll pay each month in HOA fees.

Consider your needs, wants

Finding the ideal location can take more time than you expect, so begin scouting neighborhoods early in the process.

Along with pinpointing the neighborhood, now is a good time to narrow down your preferences for the home itself by considering these essential questions:

• What type of house are you looking for?

• What can you compromise on?

• What are the dealbreakers?

• Are you willing to look at older properties that may require some updates, or do you want a move-in-ready property?

Get preapproved

When you settle on a lender, get preapproved for a mortgage. This will require documentation of your income and finances, and organizing paperwork in advance can help the process run smoothly. It will also prepare you for mortgage underwriting, which will require similar documentation.