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5 Things All First-Time Homebuyers Should Know

by | Oct 16, 2019

Thinking about purchasing a home means entering one of the most exciting and fulfilling phases of your life thus far. Though it can be a lengthy process, purchasing your first home means setting the foundation for years’ worth of memories; after all, home is, without a question, where the heart is. That being said, the process of looking for your perfect first home can be a time-consuming one, and preparation is key to making sure it goes as smoothly as possible. For that reason, we’ve compiled a list of the top things all first-time homebuyers should know in order to set themselves up for success from the very beginning. To find out what top tips will make all the difference in your home buying process, keep on reading!

1. Look Into Programs Designed to Help You

One of the most exciting things all first-time homebuyers should know is that there is a wide array of programs available to set you up for financial success, whether it’s with your down payment or your mortgage. These include federal loan assistance programs, such as:

Conventional Mortgages

Which are government-sponsored loans that require a down payment as low as 3%.

FHA Loans

Which are insured by the Federal Housing Administration and require as little as 3.5% down.

VA Loans

Which are available for United States veterans and sometimes require no down payment whatsoever.
Another thing to keep in mind is that Florida offers its own loan assistance programs to first-time homebuyers. The best course of action to take is consulting with a real estate professional about what loan assistance options make the most sense considering your financial circumstances and long-term plans.

2. Pre-Approvals are Worthwhile

If purchasing a home for the first time is on your radar, it’s worth it to work with a real estate agent in order to get pre-approved. Pre-approval doesn’t require a major time or resource commitment; it’s just a great way to get an idea of the loan amounts you’ll be approved for given your income, credit score, and debt history. Pre-approvals show sellers that you’re both responsible and financially reliable. Being proactive about getting pre-approved is a fantastic, low-maintenance way to make your offer more competitive when you find the home you’ve been looking for.

3. Don’t Exhaust Your Savings

No matter what federal- or state-funded program you end up going with when you purchase your first home, do not make the mistake of exhausting all of your savings on your down payment. It’s not only prudent, but highly recommended, that you have some money set aside to help you make repairs, minor renovations, or otherwise give you a cushion for a rainy day. Whether it’s one month or one year down the line, make sure that you’ve got the financial bandwidth to handle the curveballs that home ownership will no doubt send your way.

4. Think About the Future

Whether you’re simply looking for a starter house for the next few years or are determined to find your home for a lifetime, it’s crucial that you think about the future as you go into the homebuying process. Understand that your needs today will likely transition into different ones tomorrow. Ask yourself the following questions in order to determine whether the homes you’re considering are compatible with current lifestyle as well as with your future growth.
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Are you planning on starting a family? If so, how soon?

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How many bedrooms would you prefer? How many do you absolutely need?

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Do you want to have the living room and/or yard space to host gatherings and events?

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How important is location to you? Would you be willing to be farther away from central areas in exchange for a lower cost, or is a central location a priority for you?

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Are you willing to live in an up-and-coming neighborhood, or would you prefer one that is already established?

A good real estate agent will ask you these questions, and many more, as they become acquainted with your unique needs and preferences in order to find you the perfect home. By outlining your preferences, requirements, and deal-breakers early on, you’ll have taken a big and important step toward streamlining your search process.

5. Your Real Estate Agent Really Does Make All the Difference

You’ve probably seen at least one think piece online about how working with a real estate agent is a waste of time, energy, resources, or all of the above. In reality, working with a real estate agent isn’t just a helpful way to make your home buying process more efficient; it’s a crucial way to make sure your interests are protected every step of the way.

A great real estate agent doesn’t just help you find the perfect home; they take care of the (mountains of) paperwork associated with buying a home; they help you to get pre-approved for the loan you need; they have expert knowledge on urban growth and trends that affect property values in the short- and long-term; and they negotiated with the selling party to make sure your needs are prioritized and protected throughout the entire process. These, among countless other services, are the ways that working with a real estate agent is the ultimate way to ensure your home buying process goes smoothly.

As you consider buying your first home, know that you’re entering an exciting, challenging, and incredibly fulfilling chapter of your life. Purchasing a home is a big deal – and we’re here to have your back every step of the way. To see for yourself the list of statistics that every first-time homebuyer should know, just click right here.

Agile Group with Casa Fina Realty provides expert market knowledge to help you throughout all of your real estate needs. Our goal is to provide value to our clients as quickly as possible. Our team is equipped to adapt to each client’s needs. We are responsive, personal, and flexible. We strive to build strong relationships with our clients based on transparency and confidentiality.

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10 Statistics All First Time Home-Buyers Should Know

Thinking about buying your first home? Set yourself up for success with the latest must-know market statistics and facts in this easy-to-read infographic!



Agile Group with Casa Fina Realty provides expert market knowledge to help you throughout all of your real estate needs. Our goal is to provide value to our clients as quickly as possible. Our team is equipped to adapt to each client’s needs. We are responsive, personal, and flexible. We strive to build strong relationships with our clients based on transparency and confidentiality.

Contact Us