Top 10 things to consider when buying your first home

1. Budget & Pre-Approval

Before anything, determine what you can realistically afford. Get pre-approved by a lender so you understand your purchasing power and show sellers you’re serious.

2. Monthly Costs Beyond Mortgage

Factor in property taxes, homeowners insurance, utilities, HOA fees, and maintenance. Make sure your total monthly housing cost fits comfortably in your budget.

3. Down Payment & Closing Costs

Understand how much you’ll need upfront. Explore low down payment loan options (like FHA or USDA) and be prepared for closing costs, typically 2–5% of the purchase price.

4. Location & Neighborhood

Choose a location that suits your lifestyle and future plans—proximity to work, safety, schools, shopping, and long-term property value all matter.

5. Home Inspection

Never skip the home inspection. It uncovers potential issues (roof, plumbing, HVAC, foundation, etc.) that could cost you later and give you leverage in negotiations.

6. Type of Home

Decide what best fits your needs and budget—single-family, townhouse, condo, or new construction. Each has pros and cons related to maintenance, privacy, and cost.

6. Type of Home

Decide what best fits your needs and budget—single-family, townhouse, condo, or new construction. Each has pros and cons related to maintenance, privacy, and cost.

7. Loan Options & Interest Rates

Compare mortgage types (conventional, FHA, VA, etc.) and shop lenders for the best rate and terms. A small change in interest rate can impact your monthly payment significantly.

8. Resale Value & Future Growth

Look at the home’s potential resale value and how the area is developing. Even if it’s your “starter home,” think about long-term marketability.

9. Lifestyle Fit

Make sure the home fits your daily life—commute times, space for future family, pets, hobbies, and more. Try not to compromise on your top 3 non-negotiables.

10. Hire the Right Professionals

Work with a trusted real estate agent, lender, inspector, and attorney (if needed). A good team makes the process smoother, protects your interests, and saves money.