First-time homebuyers make up almost a third of the real estate market. If you’re among them, you’re quickly learning how stressful the process is.

There are a dozen different steps from looking for a home to getting the keys. The process does have its ups and downs, which is why it’s important to prepare for them.

These tips for first-time homebuyers help you uncover potential issues and help you avoid them. Read on to find out what they are.

1. Needs vs. Wants

Finding the right home can be a big challenge. You may want the sun, the moon, and the stars, but can only afford one of them.

Make a list of all of the things you want in a home. Then divide that list into a couple of categories.

One category is a list of need to have items. The other is a list of nice to have items. That will help you prioritize what’s important.

2. Get Preapproved

The real estate market is hot right now, making it harder for first-time homebuyers to compete with cash buyers. One way to compete is to get preapproved for a home mortgage.

A preapproval letter helps your offer get taken more seriously and it might compel sellers to accept your offer.

3. Find a Great Agent

The best thing you can do to get through the maze of steps to buy a home is to find a top-notch real estate agent.

They’ll guide you through each step and protect your interests. They’ll find inspectors and negotiate with sellers to get the best deal possible.

4. Don’t Make Any Changes

When you get preapproved for a home loan, it doesn’t mean that it’s a done deal. The lender still has to do its due diligence to make sure you can pay the loan back.

Don’t make any changes that can impact your loan or credit score. Don’t apply for more credit cards, max out the ones you have, or change jobs.

These are all things that lenders consider signs of instability. They may decide to pull the loan before the deal closes.

5. Buy for the Future

You don’t want to buy a house and realize that you outgrew a couple of years later. Take stock of what you see in your future, whether you’ll have kids in the home or care for aging parents.

You also want to know about the plans for the area. If you’re buying a home in a community that has an HOA, make sure that you understand all of the rules.

You also want to check with the planning department in your town to see what the plans are for the area. A highway could be built nearby and cause more traffic and noise in the area.

Tips for First-Time Homebuyers

Buying your first home is really exciting and scary at the same time. When you use these first-time homebuyer tips, you put yourself in a position to move into your dream home.

Check out the home page of this site for more tips for homebuyers.