Buying your first home is one of life's biggest milestones—and one of its most complex transactions. Here are five essential things every first-time homebuyer should know:
- Get Pre-Approved First
Before you start house hunting, get pre-approved for a mortgage. This shows sellers you're serious and helps you understand your budget.
- Budget for More Than the Purchase Price
Closing costs, moving expenses, immediate repairs, and furnishing can add 5-10% to your total costs. Plan accordingly.
- Don't Skip the Home Inspection
A professional home inspection can reveal issues that aren't visible during a walkthrough. It's worth the investment.
- Understand Title Insurance
Title insurance protects you from issues with the property's ownership history. While it's an upfront cost, it provides long-term protection.
- Work with Experienced Professionals
Choose a real estate agent, lender, and title company with experience in your market. Their expertise will guide you through the process.
Remember: Buying a home is a marathon, not a sprint. Take your time, ask questions, and don't be afraid to walk away if something doesn't feel right.
