Buying a home requires strategy. Just ask Klara Madlin, president of the Manhattan Association of Realtors, who over the last 50 years has witnessed the rock and roll of the real estate market.

When looking to buy, “the first thing you should do is go to a mortgage and get pre-qualified,” she says. "Find out if your credit is good and figure out what neighborhood you want to be in and start looking!"

Sounds easy, right? Watch the video to find out what else it takes, other than independent wealth, to land a home of your own.