The Advice First-Time Homebuyers Need To Hear

Buying your first home is a big milestone, and the right support is going to make it a whole lot easier.  

Because while this process might be brand new to you, it’s not new to Employee Homeownership Benefits Advisor. They’ve helped plenty of first-time buyers through it. They know what works, what actually matters, and how you can move through the process with a lot less guesswork.  

Here are a few real-world tips based on that experience of helping other first-time buyers.  

Tip #1: Get Pre-Approved First  

This is one of the most common mistakes first-time buyers make. And it’s easy to see why. Looking at homes online is fun. But doing it before you know your numbers? That’s risky. You don’t want to fall in love with a house that’s way outside of your financial comfort zone. That’s a fast track for getting frustrated.  

Instead, talk to your Employee Homeownership Program Advisor early, before looking at any houses. With their help, you’ll have a better idea of what you’ll be able to borrow, which can help you set a realistic budget. Then, you can start shopping for homes that are in your financial comfort zone. More clarity, less frustration.  

Tip #2: Set a Budget and Stick To It  

Remember, just because you can borrow up to a certain amount, chances are you won’t want to max that number out. It’s really important to avoid overextending your budget, especially in today’s market. Other housing expenses like home insurance, homeowners association (HOA) fees, and taxes are on the rise, and you need to factor those in. Bankrate offers this advice:  

“When you’re building a budget to narrow your search for properties, don’t just think about how much house you can afford, but how much in recurring costs you can handle once you’ve purchased your home.”  

So, lean on the pros for advice on expenses you may not be thinking of, so you can work them into your budget.  

Tip #3: Don’t Skip the Inspection  

When you find the right home, it’s easy to get caught up in the excitement. But skipping the inspection just to make your offer look stronger is a gamble that could cost you. Instead, work with your agent to schedule a real inspection. They’ll connect you with local pros, make sure it’s booked, and help you understand the results so you can negotiate repairs or ask for money off at closing, if needed. It’s better to invest in this time up front to avoid what could be thousands in surprise repairs later.  

Tip #4: Your First Home Doesn’t Have To Be Your Forever Home  

For a lot of buyers, this is where unnecessary pressure creeps in. But remember, you don’t have to land your dream home right out of the gate. That’s why it’s called a starter home. It’s a starting point, not your final destination. An agent will help you explore all your options, including ones you may not have thought about. For example, a well-kept condo, a townhouse in a great location, or a house with good bones can be a perfect first step into homeownership. The goal? Get in. Start building equity. Then, grow from there.  

Bottom Line  

Buying your first place is a big step, but it doesn’t have to feel like a step in the dark. Talk with your Employee Homeownership Advisor about where you’re starting from, what’s stressing you out (or holding you back), and what you actually need to know. Their goal is to make the process easier and less expensive for you! 

What’s one question you wish you could ask an expert right now? 

SupportSquad@AdvantageHomePlus.com | (800)511-2197 

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. * Real estate commission contributions are available as state laws allow.