Buying your first home is exciting, but it can also be overwhelming. Here are a few practical tips that can help you navigate the process with more confidence:
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Set a solid budget. Aim to spend no more than 28% of your gross monthly income on housing costs. This keeps your finances balanced and leaves room for other life expenses.
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Get preapproved early. A mortgage preapproval strengthens your offers and helps you move quickly in a competitive market.
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Look into first-time buyer programs. Many offer down payment assistance with as little as 3% down, making homeownership more accessible than most people realize.
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Work with a trusted local agent. They’ll provide key neighborhood insights and help you negotiate effectively.
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Know your needs vs. wants. Flexibility can open up more options. And always factor in the long-term costs of homeownership (maintenance, insurance, etc.).
For those who’ve recently bought their first home or are helping clients do it, what advice would you add?