First-time home buyer? These tips could save you thousands.

Buying your first home is exciting — but it can also feel overwhelming. Beyond advice from friends and family, it helps to hear directly from experienced agents who’ve guided hundreds of buyers through the process.

Here are some of their best tips to help you stay on budget, make smart choices, and avoid common mistakes when buying your first home.

Know Your Comfort Zone

Get pre-qualified early so you understand your budget. Don’t just look at what the bank says you can afford — make sure your monthly payments fit your lifestyle.

Negotiate Seller Concessions

Don’t assume sellers won’t budge. From solar panels to closing costs, your agent may be able to negotiate thousands in savings.

Choose the Right Agent

Look for an experienced agent with good reviews and proven strategies. The right agent can save you money and guide you through both buyers’ and sellers’ markets.

Get Your Financing in Place

A quick chat with a lender helps you understand your purchasing power. Even if you’re not ready to buy now, you can create a plan so you’re prepared when the time is right.

Weigh Fixer-Uppers vs. Turnkey Homes

Fixer-uppers can be more affordable, but make sure you understand the true costs — and whether you have the skills and time to take on improvements.

Explore Different Home Types

New construction can offer incentives and flexibility, but always check the builder’s reputation, warranties, and permits.

Be Ready to Compromise

You might not find every dream feature. Decide what’s a must-have and what you can compromise on, whether it’s layout, finishes, or location.

Look at Homes That Have Been on the Market

Properties that sit unsold can sometimes be a hidden opportunity — especially if they were priced too high or poorly marketed.

Watch for Hidden Costs

Factor in extra expenses like insurance, levies, or special assessments. An experienced agent can help you avoid surprises.

Think About “House Hacking”

Buying a multi-family home and renting out units can offset your mortgage and get you started in property investing.

Bring a Contractor to Inspections

If you’re considering a home that needs work, a contractor can help you understand repair costs upfront.

Use Your Agent’s Network

Good agents often have connections with tradespeople and suppliers who can offer discounts — saving you time and money.

Buy Now, Refinance Later

Don’t wait forever for the “perfect” interest rate. If a home fits your budget today, you can refinance when rates drop.

Focus on What Can’t Be Changed

Lot size and location matter more than finishes you can update later. Invest in what will hold long-term value.

Consider Lot Size and Flexibility

Bigger lots may allow for future additions like an office, rental unit, or granny flat — adding value and flexibility down the line.

Cast a Wide Net

Don’t just rely on traditional listings. A good agent can find opportunities in expired or off-market listings.

Look for Flexible Spaces

Homes with bonus rooms or oversized layouts can give you more bedrooms or functionality without the price tag of a larger property.

Weigh the Costs of Waiting

If prices keep rising faster than your savings, waiting could cost you more. Look for ways to get into a home sooner rather than later.

Ready to take the next step?

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