Buying the first home is not as simple as you may think. Some issues need to be taken care of way in advance, while others require planning and caution. Today, we bring you eight do's and don'ts for first-time home buyers, so keep on reading to find out what they are.


Do take a look at your current spendings

Personal finance experts recommend to learn home budgeting in order to make sure the mortgage payments are within your financial capabilities. Monthly loan payments significantly impact money flow, therefore you need to know, that your finances are stable. When you are preparing to buy a home, do build a cash cushion, usually six months' worth of your expenses which will cover financial surprises life throws your way.


Do consider your credit score

Before you start attending open houses, you should know your credit score, because the better credit score, the lower monthly mortgage payments. If you find out that your credit is less than desirable, it is best to delay home purchase at least for a few months and build up your score.


Do get pre-approved for a mortgage

Once your finances are in place, it is time to arrange a meeting with a bank or a mortgage broker and carefully think through different offers. As soon as you find the right rate, you should get a written guarantee you will be granted a loan for agreed amount.


Do know your options

Before you choose the perfect new home for you and your family, you will have to go through a number of adds and visit several listings. To save yourself some time and trouble, do make appointments with recommended agents and browse only the most trustworthy real estate sites, such as Gumtree Real Estate.


Don't get too attached

Although the first house you visit may seem like a perfect fit for you, it is definitely to early to say it with absolute certainty. Buying a home is a process and, as it often happens, a great home buying opportunity awaits somewhere along the way. Give yourself some time, see a number of houses, and only then make an educated decision, as home purchase on a whim is never a good idea.


Don't look past home's problems

Home inspection will help find out the problems with the house. Although the things like mould, roof damage, or old appliances are noticeable right away, only a specialist can determine the actual state of the house you are planning to buy.


Don't make huge purchases before you close the deal

Not many people know that mortgage brokers and banks re-check credit scores before closing, even if the clients are already pre-approved for a loan. Excessive purchases can impact credit score and often raise red flags whether you will have enough money to finalize home purchase. It is, therefore, better to put off any huge buys until the time you have the keys to your new home in your hand.


Don't forget the home improvements

Even if you are sure you are making the right decision, and your new home appears perfect at first sight, there are things you notice only after you move in. Little expenses, such as re-tiling the bathroom, changing lighting fixtures, and painting home front add up and they should definitely be included in your home budget.



For many first-time buyers, home purchase is often an emotional decision and cold feet are just part of the deal. With the help of our do's and don'ts you are now able to prepare for the emotional roller coaster and face both the challenges and excitements head on.