First-Time Homebuyer Mistakes to Avoid (Part 1)

Becoming a homeowner for the first time is a huge milestone—but it can also be a financial minefield if you don’t know what to watch for. Many buyers jump in too fast or skip key steps, only to regret it later.

Here are the first 3 mistakes every first-time buyer should avoid:

1. Shopping Before Getting Pre-Approved

Looking at homes without a pre-approval is like walking into a store without your wallet.
It wastes time and puts you at a disadvantage in a competitive market.

Avoid It: Get pre-approved before you tour a single property. You’ll know your true price range and show sellers you’re serious.

2. Underestimating Closing Costs

Many first-time buyers focus only on the down payment—but forget about additional costs that sneak up at the end:
Title fees, escrow, appraisal, property taxes, insurance, and more.

Avoid It: Ask your lender or agent for an estimated closing cost breakdown early. Budget 2–5% of the purchase price just to be safe.

3. Relying Too Much on Online Estimates

Zillow and online calculators are helpful—but they can also mislead you.
They often leave out HOA dues, insurance premiums, taxes, or other local expenses.

Avoid It: Get a full monthly breakdown from a mortgage pro, tailored to your situation and location.

Next Up: Part 2—Loan Programs, Emotions, and Long-Term Thinking

Your homebuying journey is just getting started.
In Part 2, we’ll cover how picking the wrong loan, getting too emotional, or skipping long-term planning can cost you thousands