6 Common First-Time Homebuyer Mistakes to Avoid

By Tammy Jerome

Tammy Jerome is an award-winning broker and host of “Selling Los Angeles” on the acclaimed American Dream TV show, with over two decades of experience and more than 1,500 successful transactions.

Buying your first home is exciting, but it can also feel overwhelming. One minute, you are scrolling through listings on your phone. Next, you are wondering how to turn a favorite home into a smart, confident purchase.

Most first-time buyers do not make mistakes because they are careless. They make them because the process is rarely explained in clear, simple terms.

Let’s walk through some of the most common missteps first-time buyers make so you can move forward with confidence.

Mistake #1: Waiting for the “perfect” market. Many first-time buyers delay their plans while waiting for prices to drop or interest rates to fall. While that sounds reasonable, it often works against them.

Markets rarely provide a clear signal that it’s the perfect time to buy. When interest rates fall, more buyers usually enter the market, which increases competition and pushes prices higher. At the same time, waiting often means continuing to pay rent and missing opportunities to build equity.

Instead of trying to time the market, focus on whether the purchase fits your budget and long-term goals right now.

Mistake #2: Only budgeting for the down payment. The down payment is important, but it’s not the only cost involved in buying a home.

Buyers should also plan for inspections, appraisals, lender fees, prepaid taxes, insurance, and moving expenses. Focusing only on the purchase price can lead to surprises later.

The goal is to budget for the full cost of getting the keys, not just the number advertised in the listing. Some expenses may be tax-deductible, but they still need to be planned for in advance.

Mistake #3: Skipping pre-approval. Looking at homes without a pre-approval is like shopping without knowing what you can afford.

Without pre-approval, buyers often fall in love with homes that are outside their price range or lose out because they are not ready to act. In some cases, buyers even spend money on inspections before learning they do not qualify for the loan.

Pre-approval provides clarity, protects your time, and shows sellers you are serious. In many markets, sellers will not consider an offer without it.

Mistake #4: Underestimating ongoing costs. Homeownership comes with ongoing expenses that are easy to overlook. Maintenance, repairs, utilities, insurance, and property taxes all add up over time.

That extra space or large yard may look appealing, but it also comes with added responsibility. Buyers who plan for these costs feel prepared. Those who do not are often caught off guard.

Mistake #5: Trying to do everything alone. Some buyers believe skipping professional guidance will save money. Others rely heavily on online estimates or general advice found online.

Buying a home is a major financial decision that involves negotiation, timing, and local market knowledge. A skilled real estate professional helps buyers avoid overpaying, identify potential issues early, and navigate the process more smoothly from start to finish.

Mistake #6: Treating the first home as a forever home. First-time buyers often feel pressure to find a home that checks every box. The perfect size, location, and layout can feel like a requirement.

In reality, your first home does not need to be your last. It only needs to fit your life today. Viewing your first purchase as a starting point instead of a final destination can open the door to more realistic and attainable options.

Buying your first home is a big milestone, and making a few mistakes along the way is normal. The most costly errors usually come from incomplete information or going through the process without professional support.

Take your time, ask questions, and understand your numbers. Confidence comes from clarity, not perfection.

The best first step is not finding the perfect house. It’s making an informed decision you can feel good about with guidance from a trusted real estate professional.

If you have questions or need help figuring out where to start, feel free to call, text, or email me anytime at (818) 903-5854 or tammyjerome@gmail.com. I’m here for you 24/7.