Home buying tips: What I wish I knew before buying a house
Embarking on the home buying journey is both thrilling and daunting, with invaluable lessons learned along the way. Insights from a seasoned CEO and an innovative founder reveal the crucial aspects often overlooked by first-time buyers. The article kicks off with the importance of setting clear priorities and flexibility, and wraps up with advice on avoiding the temptation to time the market. Get ready to uncover eighteen expert insights that will transform your approach to purchasing a home.
- Set Clear Priorities and Stay Flexible
- Hire a Buyer’s Agent Early
- Do Not Rush the Process
- Understand Deed Restrictions
- Research Property Taxes by Neighborhood
- Understand All Closing Costs
- Establish and Adhere to a Budget
- Consider Property Maintenance Requirements
- Thoroughly Inspect the Home
- Work with a Real-Estate Agent
- Get Pre-Approved for a Mortgage
- Research Zoning Regulations and City Projects
- Hire a Real-Estate Attorney
- Prepare for a Lengthy Closing Process
- Focus on Practical Aspects Over Aesthetics
- Leverage Seller’s Agent for Better Deals
- Understand All Financial Aspects Upfront
- Avoid Timing the Market
Set Clear Priorities and Stay Flexible
When I first started my home-buying journey, I didn’t realize how important it was to set clear priorities and stay flexible. I wish someone had told me to sit down and really think about what I needed in a home versus what I just wanted. This would have saved me a lot of time and stress. Knowing what you absolutely need helps you focus on the right properties and not get distracted by houses that look nice but don’t fit your lifestyle.
The market can be unpredictable, and being open to compromise can lead to better deals. It also helps to keep emotions in check; falling in love with a house can cloud your judgment. If I had known this earlier, I would have approached the process with a clearer mind and maybe even found my dream home faster. It’s all about balancing your must-haves with a willingness to adapt.
Justin Smith, CEO, Contractor+
Hire a Buyer’s Agent Early
We just bought our first home in Sydney, Australia.
If you’re buying in a competitive market and short on time, get a buyer’s agent early. They’ll guide you through everything—from defining criteria to negotiating the deal. I wish I’d known this sooner; it would have made the process smoother and faster.
Nirmal Gyanwali, Founder & Head of Marketing, WP Creative
Do Not Rush the Process
The most important thing I learned is to not rush the process. I once jumped on a “hot deal” without doing my homework and missed out on some serious red flags. Take your time, do your research, and don’t let FOMO push you into a bad decision—there’s always another house out there.
Erik Wright, CEO, New Horizon Home Buyers
Understand Deed Restrictions
I wish I’d known more about deed restrictions before buying. Once, I almost flipped a house, only to discover it couldn’t be used as a rental property due to HOA rules—that would’ve been a costly mistake!
Darcy Turner, Founder, Investor Home Buyers
Research Property Taxes by Neighborhood
I wish I’d known more about how dramatically property taxes can vary by neighborhood during my home-buying process.
Had I been more aware, it would have reshaped my approach to house-hunting. Instead of just focusing on home price and amenities, I would have factored in long-term tax costs, which can make a big difference in your overall budget, especially if you’re stretching to buy in a higher-end area.
For first-time buyers, I recommend digging deeper into local tax rates and understanding how they could fluctuate over time. This insight can prevent surprises and help you make a more informed, financially-stable decision.
Lucas Botzen, Founder, Rivermate
Understand All Closing Costs
One thing I always tell my clients about the home-buying process is the importance of thoroughly understanding all closing costs upfront. Beyond just the down payment, there are several expenses, like legal fees, land-transfer taxes, and unexpected inspection costs, that add up quickly. Knowing this earlier would shift anyone’s budgeting approach, ensuring they set aside a larger buffer for these additional costs.
With this insight, a client would approach the entire process with a clearer financial picture and avoid some stress toward the end. It’s a small shift, but it makes the experience feel much smoother and more predictable.
Samantha Odo, Real Estate Sales Representative & Montreal Division Manager, Precondo
Establish and Adhere to a Budget
The most valuable lesson I learned during my home-buying journey is the significance of establishing a budget and adhering to it. Before I began my search, I wish I had recognized how essential it was to have a clear grasp of my financial situation and what I could realistically afford. Understanding this in advance would have transformed my approach in several ways.
Firstly, I would have prioritized getting pre-approved for a mortgage to determine my budget, rather than viewing homes that exceeded my price range. This shift would have saved me time and spared me the disappointment of falling in love with a property that was financially unattainable.
Secondly, having a defined budget would have enabled me to focus on my needs rather than my wants when assessing potential homes. I might have been more pragmatic, concentrating on finding a property that met my essential requirements instead of being swayed by appealing features or amenities that were not necessary.
Finally, knowing my budget would have empowered me to negotiate with greater confidence and avoid overspending. I could have used my budget as a guiding principle when making offers, steering clear of the temptation to exceed it in the heat of the moment.
Warner Quiroga, Founder & CEO, Prestige Home Buyers
Consider Property Maintenance Requirements
Buying my first home really opened my eyes to the different levels of upkeep required by various property types. I wasn’t able to fully appreciate how much more maintenance a stand-alone home demands over a condo back then, where the homeowners’ association mostly takes care of much of the heavy lifting.
Realizing the true extent of what maintenance entails (from the roof to the plumbing) could have shifted my decisions significantly.
Knowing this earlier would have led me to consider newer properties that promised fewer immediate repairs or to set aside a more realistic budget for fixing up an older home. This would have greatly influenced my purchasing strategy, making sure I was truly prepared for everything homeownership entails, both financially and in terms of time commitment.
Dane Nk, Founder, That VideoGame Blog
Thoroughly Inspect the Home
I learned the importance of thoroughly inspecting a home during my home-buying process. Initially, I underestimated how crucial it was to have a professional evaluate the property beyond its aesthetic appeal. I wish I had realized that a comprehensive inspection would uncover potential issues, such as plumbing or electrical problems, that could lead to significant expenses down the line.
If I had prioritized this aspect, I would have approached the decision-making process more confidently, knowing I was making a sound investment. An inspection could have provided leverage in negotiations, allowing me to request repairs or adjustments to the purchase price. Understanding the home’s true condition would have also helped me plan for future renovations and maintenance needs more effectively.
I learned the value of imagining my life in the space rather than just seeing it as an investment. I wish I had spent more time envisioning how I would use each room, how it would fit into my daily routine, and how it would accommodate future changes in my life. This perspective would have led me to a more tailored choice, ensuring that the home met my current needs and supported my long-term vision for my living environment.
Josh Qian, COO and Co-Founder, Best Online Cabinets
Work with a Real-Estate Agent
When I started the home-buying process, I thought I had done enough research to handle everything on my own. I spent hours looking at listings, learning about the market, and trying to figure out the best strategies for negotiating. But once I got into it, I realized there were so many things I didn’t know—like hidden issues with properties and confusing paperwork. If I had worked with a good real-estate agent from the beginning, they would have spotted those things and made the whole process easier. It would’ve saved me a lot of stress and probably some money too.
Eli Itzhaki, CEO & Founder, Keyzoo
Get Pre-Approved for a Mortgage
One of the key lessons I learned during the home-buying process was the importance of getting pre-approved for a mortgage before even beginning to search for a property. Initially, I thought I could casually explore listings and handle the financial details later. However, I quickly realized that being pre-approved not only strengthens your position when making an offer but also gives you a clear sense of what you can realistically afford.
This knowledge would have prevented me from wasting time looking at homes that were out of my budget and saved me the disappointment of falling in love with properties that weren’t feasible. If I had understood the significance of pre-approval from the start, I would have approached the process with a more realistic perspective, making the search smoother and more efficient from the outset.
Stefano Lodola, Founder & Course Author, Think Languages
Research Zoning Regulations and City Projects
Zoning regulations can make or break your plans. After purchasing my property, I only realized how crucial local zoning restrictions were. I had enormous plans to expand the backyard and create an additional room, but I discovered that the neighborhood had severe green-space regulations. It would have undoubtedly affected my choice if I had researched this earlier. I advise any first-time buyer to look into these things before signing anything.
Long-term city projects are a game-changer. I didn’t research future city infrastructure plans, and it came back to bite me. A few months after moving home, I learned that a motorway expansion was planned nearby. I had yet to anticipate the increased traffic and volume, and if I had known sooner, I might have reconsidered. It’s a lesson I now teach others: always check to see what the city has planned for the region!
Johnny Austin, Owner, Sell My House Now LLC
Hire a Real-Estate Attorney
When I bought my house, I thought I had done enough research to get through the process smoothly, but I wish I had hired a real-estate attorney to review the documents. I ended up signing papers with terms I didn’t fully understand, like hidden fees and unclear clauses about repairs and inspections. There was even an issue with the title that could have been caught earlier if I had proper legal advice. If I’d known to bring in an attorney from the start, they could’ve helped me avoid these surprises and made sure everything was in my best interest. It would’ve saved me a lot of headaches and possibly some money, too.
Gal Cohen, Business Development Leader & Field Area Manager, JDM Sliding Doors
Prepare for a Lengthy Closing Process
I honestly wish I had known beforehand just how long the closing process could actually take when buying a home. I was expecting everything to go smoothly within a set timeline, but the delays in paperwork, appraisals, and financing approvals were a real test of patience.
If I had been aware of this beforehand, I would have been better prepared both mentally and in terms of planning my move and work schedule.
Understanding how unpredictable this stage can be would have made a big difference in how I approached the process. I could have built-in more flexibility, which would have saved me a lot of stress and frustration. It’s something I always share with anyone going through the home-buying journey for the first time.
Steve Sacona, Founder, Top 10 Lawyers
Focus on Practical Aspects Over Aesthetics
I learned that focusing too much on aesthetics can distract from the practical aspects of a home purchase. During my own process, I got caught up in visual details—like how certain rooms looked or imagining how I could design the space—only to realize later that things like structural quality and neighborhood characteristics would have a far bigger impact on my long-term satisfaction. If I’d focused on those practical elements from the start, I would have approached decisions with more clarity and avoided unnecessary expenses later on. The key takeaway? Treat a home like an investment and focus on the hidden factors that affect long-term value—design can always come later.
Rasmus Myhrberg, Founder & CEO, Spark Plugin
Leverage Seller’s Agent for Better Deals
The mistake I made when I bought my first house was thinking that the realtor representing me would advocate for me in terms of price and conditions. I later realized that that realtor was going to get their commission no matter what price I paid. It was more important for them to lock me in than to get good terms for me. They didn’t care what house I bought or at what price, just as long as they got their 3%.
When I bought houses after that, I always worked through the seller’s agent. This seems counterintuitive at first, but it is not. If a seller’s agent could get a 6% commission through selling a house to me (as opposed to 3% for selling it to someone else), they will work twice as hard to make sure that I am the buyer. Such seller’s agents literally sell out their client by agreeing to lower prices and better conditions for my offer because they are so motivated to sell to me specifically. It is just human nature. They would rather sell the house to me for $200,000 than to another buyer for $300,000 because they make more money by selling it to me specifically for $200,000. This has given me enormous negotiating power when buying houses since I bought my first one!
Julia Rueschemeyer, Attorney, Attorney Julia Rueschemeyer Divorce Mediation
Understand All Financial Aspects Upfront
The most important thing I learned during my home-buying process was the value of understanding all the financial aspects upfront, including hidden costs and long-term expenses. Initially, I focused mainly on the mortgage and down payment, but I didn’t fully account for other costs like property taxes, homeowners’ insurance, maintenance, and unexpected repairs. Knowing this beforehand would have changed my approach by making me more prepared for the true cost of homeownership, allowing me to budget more accurately and avoid any financial surprises.
I also learned the importance of thoroughly researching different financing options and understanding how they can affect your long-term financial situation. For example, I used a VA loan, which did not require me to pay my home down. This strategy worked well for me, but I wish I had known more about how different agreements and loan types could impact my overall cost. Even with a VA loan, I considered using a down payment to lower my monthly mortgage. However, after researching and speaking with different loan officers, I decided forgoing the down payment was the better option. Although my monthly payments would be higher, I invested the money I would use for the down payment.
For anyone considering buying a home, I recommend doing as much research as possible on all the costs involved and considering different financing strategies. Ensure you’re fully aware of what you can afford, not just monthly payments but also long-term expenses. Being well-informed can help you avoid stress and make the process much smoother, ensuring you find a home that fits your budget and needs. Talk to friends and family about their experiences and research if you qualify for government programs that might provide special loans or minimize property taxes.
Sophia Gatto, Marketing Coordinator, Achievable
Avoid Timing the Market
Timing the market is one of the hardest parts of buying a home, and I learned firsthand how risky and stressful it can be. I thought waiting for the “perfect” moment—when prices dropped or interest rates fell—would get me the best deal. But I soon realized that market conditions are unpredictable and change for many reasons, including economic trends and local demand. This uncertainty can lead to missed opportunities, especially in competitive markets where desirable homes sell quickly. Adopting this perspective could have facilitated a more strategic and less-stressful home-buying experience, enabling me to capitalize on opportunities without the pressure of attempting to time the market perfectly.
Jase Rodley, SEO Consultant, Jase Rodley
