First-Time Homebuyer Checklist: Everything You Need to Know Before You Buy

Introduction

Buying your first home is a big milestone—but it can also feel overwhelming. From mortgages and credit checks to inspections and closing day, there’s a lot to juggle. Whether you're in Texas or anywhere else in the U.S., this first-time homebuyer checklist will walk you through every step of the process, helping you avoid common pitfalls and feel confident in your purchase.

Step 1: Know What You Can Afford

Before you even browse homes on Zillow, get a clear idea of your financial situation.

- Calculate your monthly income and expenses

- Check your credit score

- Estimate your down payment (usually 3%–20%)

- Factor in closing costs (2%–5% of purchase price)

Pro tip: In Texas, property taxes can be higher than in other states. Use a home affordability calculator that accounts for local taxes and insurance.

Step 2: Get Pre-Approved for a Mortgage

Pre-approval shows sellers you’re serious—and helps you understand your borrowing limit.

You'll need:

- W-2s or 1099s

- Pay stubs

- Bank statements

- Credit report access

Choose lenders that are transparent and competitive. Ask about interest rates, fees, and down payment assistance programs (especially in Texas, where local programs are available for first-time buyers).

Step 3: Choose the Right Real Estate Agent

A great agent will help you:

- Understand local markets

- Negotiate offers

- Avoid red flags during inspections

Tip: Look for agents who work with first-time buyers and are responsive to your questions.

Step 4: Define Your Must-Haves and Deal Breakers

Make a list before you start touring homes:

- Bedrooms/bathrooms

- Yard size

- School district

- Commute time

- Walkability

- Age of roof or HVAC system

You likely won’t get everything—but knowing your priorities helps avoid regret.

Step 5: Start Your Home Search

Use online platforms (like Zillow, Redfin, Realtor.com), but rely on your agent to find listings before they hit the market. Attend open houses, book private showings, and take notes or photos to compare homes later.

Texas buyers: Consider neighborhoods with newer builds, which may come with energy efficiency incentives and builder warranties.

Step 6: Make an Offer

Once you find “the one,” it’s time to move quickly. Your agent will help craft a competitive offer.

Typical components of an offer:

- Offer price

- Contingencies (financing, inspection, appraisal)

- Earnest money deposit

- Preferred closing timeline

In competitive markets, you may need to waive contingencies—but be cautious.

Step 7: Get a Home Inspection

Never skip the inspection. It reveals hidden issues like:

- Foundation cracks

- Roof damage

- Plumbing/electrical problems

- HVAC condition

Use the results to negotiate repairs or walk away if the issues are severe.

Step 8: Finalize Financing and Close

Once your offer is accepted:

- Complete your full mortgage application

- Submit final documents to your lender

- Lock in your interest rate

- Receive a Closing Disclosure

- Do a final walk-through before closing

On closing day, you’ll sign all documents, pay any closing costs, and finally—get your keys!

Final Thoughts

Buying your first home doesn’t have to be confusing. With the right preparation and team in place, you can make confident decisions every step of the way. Use this checklist to stay organized, avoid surprises, and move into your new home with peace of mind.