Few things are as rewarding as owning your own home—indeed, it can be one of life's most satisfying experiences.

Nevertheless, it's no secret that buying or selling a house these days can be a lot of work: due to the size of the transaction, buying or selling real estate comes with a veritable flurry of rules, regulations, and paperwork. And unlike consumer products, houses can't be returned with a receipt within 30 days.

Choosing a good REALTOR® can mean the difference between a pleasant experience—and a downright ugly one.

But it's not just the experience of the transaction itself: a well-chosen home will provide great pleasure for many years, while a poorly-chosen one can bring either headache, heartache—or both.

So to get the best for your investment, consider these tips:

1.  When buying, search for a neighborhood, not just a house.

Location, location, location: yes, the old saw is true, but not just from an investment standpoint. Where your house is located makes a big difference in the type of neighborhood you live in, the length of your commute to work, the proximity to shopping, schools, churches, and activities. Tell your REALTOR® about the life you want to enjoy, so that all these elements can be tailored together. Don't just focus on the house—see the house in the wider context of the community and how you fit in it. No matter how good the price is, it's not a deal if you don't enjoy where you live.

2.  Create a needs list – and a wish list.

Write down some of the things you'd like to see in a house beyond the classic "3 bedrooms, 2½ baths." Tell your REALTOR® what you need but don't forget to include a few wishes too: large, stately trees or a brick patio or a finished basement. REALTORS® have access to extensive search tools on the MLS that are more sophisticated than those available on the Internet. In addition, a good REALTOR® will have a broad knowledge of houses on the market along with many personal contacts. By giving your REALTOR® a detailed description of your ideal house, he or she can significantly increase the likelihood of finding what you're looking for—and much more quickly.

3.  Get your loan pre-approved before you go house-hunting.

Getting pre-approved means you can confidently shop without "surprises," allowing you to focus on the house you want in the area you want. Getting pre-approved also allows you to make an offer quickly on a desirable house, if required. Your REALTOR® may be able to help you with recommending lenders in your area, however, it is your loan, so don't feel pressured—work with whomever you feel comfortable.

4.  When selling, consider price carefully.

The number one stumbling block to selling a house quickly is the owner who sets the price too high. It's understandable: owners love their houses and want to recoup their investment. But setting a price unrealistically high for the area only means the house will sit, often for months, with little or no activity. By the time the owner finally lowers the price, thousands of dollars may have been burned up in mortgage payments and other expenses that cannot be recouped, not to mention the countless hours of trying to keep the house "perfect" just in case.  Working with your REALTOR® ahead of time to set pricing strategies and timelines is just plain smart.

5.  Whether buying or selling, use both head and heart.

Some people can get so focused on numbers that the transaction becomes mechanical.  While paying close attention to carpet allowances and gutter repairs, they overlook the larger picture like: "Will my children be happy here?  Do I like my surroundings?  Will I actually enjoy living here?"

Conversely, others can become so emotionally involved in a house that all caution is thrown to the wind; in their excitement over future decorating plans they can underrate adverse findings contained in the house inspection report or skip over key financing points such as mortgage rates that automatically adjust (higher) after a couple of years.

A good REALTOR® can help provide a professional perspective, so take time to discuss the whole package with your REALTOR® before finalizing your decision. Ask if there's anything you're overlooking or ask if there's a better way to structure the deal or if there are alternative houses you may not have considered. In short, make full use of your REALTOR®'s professional knowledge.