Buying your first home is an exciting but often overwhelming experience. With so many factors to consider, it’s easy to make mistakes that can cost time, money, and peace of mind. Here are key tips to help you avoid the most common first-time homebuyer pitfalls:

1. Not Setting a Realistic Budget One of the biggest mistakes is overestimating what you can afford. It’s important to consider not only the mortgage but also other expenses like property taxes, insurance, maintenance, and utilities. A good rule of thumb is to keep your mortgage payment at or below 30% of your monthly income.

2. Skipping Mortgage Pre-Approval Getting pre-approved for a mortgage gives you a clear understanding of your budget and shows sellers that you’re serious. Without it, you could fall in love with a home you can’t afford or lose out to another buyer who’s more prepared.

3. Not Considering Long-Term Needs Think about how long you plan to live in the home. Are you starting a family? Will you need more space in the future? Buying a home that suits your long-term needs can save you from needing to move again sooner than expected.