The costs nobody mentions
You already know about the deposit. These are the ones that surprise people:
- Closing costs — typically 2–5% of the purchase price, covering loan fees, title work, and taxes. This is real money and it is due at closing.
- Inspection and appraisal — a few hundred dollars each, paid before you know whether the purchase will complete.
- Moving and immediate repairs — almost every new owner spends something in the first month. Budget for it rather than discovering it.
- Insurance and property tax — often collected monthly alongside your loan payment, which makes the real monthly figure higher than the mortgage quote.
Ask your lender for a full written estimate early. A good one will walk you through every line.
Mistakes we see most often
Falling in love before getting pre-approved
Viewing homes you cannot yet make an offer on is how good properties get lost to someone who was ready.
Spending every last dollar
A home with nothing left in reserve is a stressful home. Keep a cushion for the things that break in year one.
Skipping the inspection to win a bid
It happens in competitive markets, and it is a genuine gamble. Understand what you are giving up before you agree to it.
Opening new credit mid-purchase
A new card or car loan between offer and closing can change your approval. Keep everything still until you have the keys.
Judging a home by its decoration
Paint and staging are cheap to change. Layout, light, location and structure are not. Look past the furniture.
Not asking what the neighbours pay
Recent sales on the same street are the clearest guide to whether an asking price is reasonable. We will pull them for you.
Common first-time questions
What credit score do I need?
There is no single cut-off. Better scores get better interest rates, and a small difference in rate is a large difference over thirty years. If your score is holding you back, a lender can usually tell you exactly which two or three things to fix and how long it will take.
Is renting really wasted money?
No — and anyone who tells you otherwise is selling something. Renting buys flexibility, and buying only pays off if you stay long enough to recover the transaction costs. If you might move within two or three years, renting is often the better financial decision. We will say so.
Can I buy with student loans?
Very commonly, yes. Lenders look at your total monthly obligations against your income, not at whether debt exists. Plenty of first-time buyers close with student loans outstanding.
How much house can I afford?
A lender will tell you the maximum. That is not the same as the sensible number. We would rather you bought comfortably below what you are approved for and slept well.
Ask us anything, before you commit to anything
First conversations are free and we will not chase you afterwards.