First-Time Home Buyer Guide: Everything You Need to Know

Step 1: Determine Your Budget

Before you start browsing listings, understand how much house you can afford. A good rule of thumb is to spend no more than 28–30% of your gross monthly income on housing costs.

Tips:

• Use a mortgage calculator to estimate your monthly payments.

• Factor in taxes, insurance, and HOA fees.

• Don’t forget closing costs (typically 2–5% of the home price).

Step 2: Get Pre-Approved for a Mortgage

A mortgage pre-approval gives you a clear price range and shows sellers you're a serious buyer. Work with a reputable lender to get pre-approved—this also speeds up the process when you're ready to make an offer.

Pro Tip: Compare mortgage rates from multiple lenders to get the best deal.

Step 3: Find a Real Estate Agent You Trust

At HomeDeals Realty, our experienced agents specialize in helping first-time buyers. We’ll help you:

• Understand the local market

• Set up home tours

• Negotiate the best deal

• Handle all the paperwork

We believe real estate should be personal, not just transactional.

Step 4: Start House Hunting

Once you’ve set your budget and found an agent, it's time to explore. Create a “must-have” list and a “nice-to-have” list to help guide your search.

Consider:

• Neighborhood safety and school ratings

• Commute times and public transportation

• Resale value and future development

We’ll help you find hidden gems and avoid common pitfalls.

Step 5: Make an Offer & Negotiate

When you find the perfect home, your agent will help you submit an offer based on market analysis. The seller may accept, reject, or counter—your agent will negotiate on your behalf.

Next steps:

• Pay earnest money

• Schedule inspections and an appraisal

• Secure final mortgage approval

Step 6: Close the Deal

Closing involves signing the final paperwork and transferring ownership. Your agent and lender will guide you through every form and deadline.

You'll need to:

• Do a final walk-through

• Bring a cashier’s check for closing costs

• Get your keys and celebrate!

Bonus: First-Time Buyer Programs & Benefits

Many first-time home buyers qualify for:

• Low down payment options (FHA, VA, USDA loans)

• State and local assistance programs

• Tax credits or reduced mortgage insurance

Our team at HomeDeals Realty will connect you with every opportunity available.

Ready to Begin Your Journey?

At HomeDeals Realty, we make buying your first home simple, transparent, and exciting. Whether you're just browsing or ready to move in, our team is here to support you every step of the way.

📞 Contact us today to schedule a free consultation or explore first-time buyer homes near you.