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First time home buyer: 5 quick tips

Buying a home for the first time may seem like a daunting task but it doesn’t have to be. This quick list will help you understand some of the foundational aspects of looking for and buying a home.


Start saving money the second you decide you want to buy a home, even if it seems a long way off. This way you don’t have to tap into your existing savings, and it will allow you to budget more easily. If you don’t have a large budget, you will have to remain flexible with your options.

Loan eligibility and pre-approval

Before you even begin shopping for a home it is a good idea to understand how much money a lender is willing to give you. Considerations like your credit score, income, and how long you’ve been at your job are important factors in assessing your eligibility. In a hot market, pre-approval allows you to move more quickly and can make a huge difference when it comes to offer approval.

Down payment

Generally, a down payment starts at about 20% of the purchase price. Having a down payment will help you avoid higher monthly payments and could offer flexibility on the terms of the purchase agreement. Having a down payment will also make you more attractive to the seller because it improves your negotiating power.


Before you start looking for a home you should take time to consider what it is you really need, what you want, and what you’re willing to compromise on. This information will help you stay focused as you begin the search for your new home. Before you start thinking of improvements or luxuries, focus on the ‘big picture’ aspects you will need now and in the future. For example, are you planning on having kids or getting pets? If so, you may want a larger yard which is something you can’t expand later.

Working with a real estate agent

A good real estate agent will make your search for homes much easier by handling many stress-inducing activities like negotiation and paperwork while helping you avoid potential pitfalls. If you’re new to an area, a realtor partner can give you helpful advice to get you integrated into your new neighborhood more quickly.


Looking to buy real estate in the Sacramento, Placerville, or Yolo area? We're here to answer any questions you may have. Drop us a note today!

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