September 2025
Buying your first home is an unforgettable milestone in life, but for many, it feels overwhelming. The options start to run together, the amount of money to fund your investment seems scary, and where to start is unclear. These tips will help first-time homebuyers have a clearer understanding of what matters most when shopping for the right home.
- Identify needs vs wants. Needs include but are not limited to a minimum number of bedrooms & bathrooms, parking, and square footage. In contrast, wants include things such as amenities and upgrades. Take time to make a list and rank items on your list. Try to avoid giving things too much thought, the initial response is likely the most accurate.
- Research neighborhoods of interest. Visit during different times of the day to get a feel for the neighborhood and all that it has to offer (or the lack thereof). Also, do your research and find out the local crime statistics, school ratings, and the proximity of places that you frequent (e.g. grocery stores)
- Project the future. Consider your life plans 5 and 10 years from now. Do you plan to have more occupants? Does the home offer space for an office? Are there any potential barriers when you later decide to sell the home (e.g. highway noise or development)?
- Be budget-conscious. Avoid shopping at the top of the amount that you’re approved for. Costs such as taxes, insurance, utilities, and association fees are important to consider when gauging your monthly costs in addition to the mortgage. Also, leave room to put money aside for the what-ifs.
- Assess the condition of the home. Focus on big-ticket items such as HVAC, plumbing, electric, roofing, and the foundation. Rely on your home inspector to thoroughly check the home and report findings.
Choosing the right home requires synergy between needs, budget, and future plans. Being realistic is crucial! With your trusted real estate agent’s guidance and a well-thought-out plan, your first home will be filled with lasting memories!
