5 key things First-Time homebuyers should know before buying

As a realtor, here are 5 key things first-time homebuyers should know before purchasing a home, based on my experience helping clients navigate the process:

• Pre-Approval Is Critical – Don’t Skip It!

One of the most important steps is getting pre-approved for a mortgage. Many first-time buyers start looking at homes without knowing what they can afford, which can lead to disappointment if they fall in love with a property that’s outside their budget. A pre-approval letter shows sellers you're a serious buyer and can help you avoid wasting time on homes that aren’t financially viable.

• Understand the Full Cost of Buying a Home

It's essential to understand that the purchase price isn’t the only cost. First-time buyers often focus on the down payment but forget about closing costs, which can range from 2% to 5% of the home’s purchase price. Additionally, costs like property taxes, home insurance, utilities, and ongoing maintenance can add up quickly. It’s critical to budget for these long-term expenses.

• Know Your Must-Haves and Deal-Breakers

Before starting your home search, clearly define your **must-haves** (like the number of bedrooms, proximity to work, or a certain school district) and **deal-breakers** (such as major renovations needed or an undesirable neighborhood). As a realtor, I help clients focus their search to find properties that fit their lifestyle and goals while avoiding homes that don’t align with their needs.

• Location Matters as Much as the Home Itself

I often advise buyers that location is key. Even if a home has all the features they want, the surrounding neighborhood and area amenities play a huge role in long-term satisfaction and future resale value. Consider factors like safety, schools, commute times, and community development plans, as these can impact your lifestyle and property value over time.

• Don’t Let Emotions Cloud Your Judgment

It’s easy to get emotionally attached to a home, especially when you’re a first-time buyer. However, emotions can cloud your judgment and lead to hasty decisions. As your realtor, I strive to keep you grounded and remind you of your priorities—whether it’s staying within your budget or ensuring the home is a sound investment. Take your time, and don’t rush into something that doesn't feel right just because you fall in love with a property.

As a first-time buyer, being prepared, informed, and patient can help you navigate the home-buying process with confidence and avoid surprises along the way. Would you like any specific advice on any of these steps, or guidance through a particular part of your journey? It will be my pleasure to help!

Christel Renaud | Christel Miami Luxury Living

954-799-3378 | [email protected]