Buying a first home

If you're under 30, unmarried or even married w/o kids - don't. Invest.

Buy what you need in a good neighborhood.

You don't need the most expensive home in any neighborhood.

Buying a house is not always the no brainer investment that some people will tell you it is. Some people win the lottery of moving at a time of high prices in a high cost area to a low cost area. You may or may not make money when you move.

Inspectors make a hell of a difference. Get a good one

Don't buy if prices are decreasing.
If buying in a new neighborhood, buy only when it's well over half complete.
As others mentioned, don't buy the biggest house in the neighborhood.
If you can handle it, foreclosure are great values.

I know very little of BR housing market. But generally buying a more modest home in a nice community will be easier to sell and appreciate respectively, if not more than other homes in same community.

Also think of flexibility of the home. Generally houses with Master bedrooms on the main floor sell faster because they appeal to more buyers. Taller ceilings on main (9ft minimum) have also become deal breaking necessities for many buyers.

If you are 100% positive you'll be out in 10 years, I'd consider a 10/1 ARM. You'll get a much better rate than 30 year fixed and if you want to pay on property like a 15, you can do so.