First-Time Homebuyer Checklist for 2025
Published: June 20, 2025•8 min read•Guides
- Set a realistic budget
Consider total monthly payment, including taxes, insurance, and HOA if applicable. Build a small buffer.
- Check your credit and debts
Pay down revolving balances, avoid new credit, and correct any report errors before pre-approval.
- Get pre-approved
Compare two or three lenders on rate, closing costs, and service. Ask about points and credits.
- Define needs vs. wants
Prioritize location, commute, schools, home type, and must-have features.
- Start the search
Tour a range of homes to calibrate expectations. Watch days-on-market and price adjustments.
- Make a competitive offer
Lean on your agent for comps, terms, and contingencies that balance risk and competitiveness.
- Complete inspections and appraisal
Use findings to negotiate repairs or credits. Confirm loan approval timeline.
- Close and move
Review the Closing Disclosure carefully. Set up utilities and change of address ahead of keys.
Quick Tips
- Stick to your budget; emotions can run high during bidding.
- Rate locks have expiration dates—time your lock to your closing.
- Keep large deposits documented to avoid underwriting delays.