First-Time Homebuyer Tips:

Buying your first home is a milestone, and if you're like many first-time homebuyers I’ve worked with, you're probably feeling excited—but maybe also overwhelmed. Whether you're thinking about buying your first home in Maine or just starting to explore your options, the process doesn’t have to be confusing. A little clarity up front can go a long way.

Getting pre-approved for a mortgage should be one of your first steps. It’s more than just paperwork—it gives you a real sense of your budget and helps you focus on homes that fit your price range. Without it, it’s easy to waste time on homes that aren’t actually within reach.

But affordability isn’t just about the sale price. Your total monthly cost includes:

• Property taxes

• Homeowners insurance (and PMI if your down payment is under 20%)

• Utility costs

• HOA fees (if applicable)

• Ongoing maintenance (plan on 1–3% of the home’s value annually)

It’s not about scaring yourself out of buying—it’s about walking in prepared.

Some buyers think skipping the inspection will give them a better chance in a competitive market. But the inspection is there to protect you. It can uncover issues, give you leverage to negotiate, or even help you decide when to walk away. It’s one of the smartest investments you’ll make during the process.

Your first home doesn’t have to be your dream home. In fact, it probably won’t be—and that’s okay. Think of it as a starting point. A place to build equity and get familiar with homeownership before you trade up in a few years.

Choosing the right people to guide you through this matters more than most buyers realize. A good mortgage broker can help you explore financing options that fit your unique situation. And when it comes to finding a real estate agent, don’t just click on whoever pops up first on a listing site. Talk to a few. Find someone who listens, knows the local market, and gives you honest, clear answers.

Before you make an offer, make sure you’ve thought about your lifestyle. What do you need today—and what might you need a few years from now? It helps to make a list of what matters most, like:

• Commute time

• School district

• Neighborhood feel

• Outdoor space

• Room to grow

Take time to drive through neighborhoods at different times of day. Picture yourself actually living there—not just decorating a room, but doing life.

When it comes time to negotiate, remember that price isn’t the only piece. You might be able to ask for closing cost credits, repairs, or different terms depending on the inspection or how the market is behaving. Having the right agent at your side makes all the difference here.

If you're starting to think about buying your first home, whether here in Maine or anywhere else, the most important move isn’t rushing to book showings. It’s making sure you’ve got a clear plan and the right people in your corner.

If that’s the stage you’re in—where you’ve got questions but aren’t sure where to begin—there’s value in having a quick conversation. Just someone to help you think it through before you commit to anything. When the time is right, you’ll know your next step.

Written by Dan Hickman
Founder, PlanBeforeYouMove.com
Helping buyers get clear before they commit.

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