There are likely a million thoughts racing through your mind when purchasing your first home. What are the neighbors like? Will my dog like the backyard? How are the schools in the area? Is there lots of road noise at night?
No matter how hard you try to cross off every box and inspect every inch of the home, there’s probably still something that you missed. So to spare others the trouble of making the same mistakes they did, first-time homeowners have been opening up on Reddit about the lessons they had to learn the hard way.
Take note of anything that you want to remember when you’re house hunting, pandas, and keep reading to find a conversation with Jaime Seale of Clever Real Estate!
#1
#1 — Avoid buying a home with an HOA like it’s the plague!!!
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#2
The problems with your neighbors may be greater than the problems with your house!
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To gain more insight on what it’s like to be a first-time homeowner, we reached out to Jaime Seale at Clever Real Estate, and lucky for us, she was kind enough to have a chat with Bored Panda. When it comes to the biggest mistakes first time home-owners make, Jaime says one of the most common is buying more house than they can afford. “This is especially common if they’re fixated on finding their ‘dream home.’ About 1 in 4 homeowners (28%) regret spending too much, making it one of the most common regrets,” she noted.
“First-time buyers are usually desperate to become homeowners, and as a result, they’re willing to take more financial risks to own a home,” Jaime continued. “For example, 42% of first-time buyers offered more than the asking price, compared to just 33% of repeat buyers. But nearly two-thirds of first-time buyers (63%) admit they overpaid for their home.”
#3
Any home improvement project, whether DIY or contracted out, will take longer than you expected and cost more than you originally thought.
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#4
Grass grows at a speed that defies logic ?
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#5
The fixing never ends
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Jaime went on to note that nearly half of first-time home buyers (45%) exceeded their budget. “That puts them in a precarious financial position. About 65% of first-time buyers have struggled to pay their mortgage on time, and 61% have had to take on additional debt to maintain their lifestyle since purchasing their home,” the expert explained. “Overextending their budget puts first-time homeowners at increased risk of foreclosure and makes it tough to meet other financial goals, such as saving for retirement.”
But spending too much isn’t the only common mistake home buyers make. Jaime says another is buying too quickly, with 30% of home buyers admitting that they rushed their decision. “Although sometimes it’s necessary to move fast, the real estate market is slowing, giving buyers more time to think through their decisions,” she explained. “Homeownership is a big commitment of time and money, and buyers need to be sure they’re purchasing a home that meets their needs and fits their budget.”
#6
You spend your time listening for water leaks like it’s a hobby. Any running water whatsoever makes the heart skip a beat lol
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#7
Never leave your hose on the faucet in winter
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#8
Make sure you know where and how to shut off the water
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When it comes to the most important factors first-time buyers should consider before purchasing, Jaime says they need to think about the additional costs of homeownership beyond the mortgage payment. “Annual maintenance, repairs and improvements can cost thousands of dollars each year. If buyers bought more house than they could afford, they may not have much money saved for emergency repairs, causing them to go into debt.”
“Maintenance and repair costs are no joke, and one-third of homeowners (33%) say they regret buying a home that requires too much maintenance — making it the most common regret,” Jaime continued. “Although older homes and fixer-uppers might seem like a bargain for first-time buyers who are strapped for cash, they need to consider if the costs to repair and maintain them are worth the lower listing price.”
#9
Make sure you study your potential neighbors. Buying a house is way different than renting, so you can’t just up and leave. We’ve been here a year and have to file a civil suit against our neighbors.
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#10
Not everything is an immediate issue. On the other hand, rake leaves.
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#11
Plant a tree as soon as you move in
“Buyers should also know that the market is cooling and shifting slightly back in favor of buyers, but it’s still a tough environment, and 46% of first-time buyers said purchasing a home in 2023 was more difficult than expected,” Jaime continued. “Home prices remain high because of the housing shortage and there’s more competition for lower-priced homes that often attract first-time buyers.”
#12
I’ve learned, a project can takes year to complete – like a bathroom remodel. Saves you a c**p load of money, but the pros can get it done in a day or two.
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#13
Go for a house with a simple, straightforward roof design. The more complicated it is, the more expensive it is to fix and maintain it
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#14
Maintenance is a huge consumer of time.
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We also asked the real estate expert if she believes buying a home is for everyone. “It’s hard to give a definitive answer because it really depends on a person’s goals and financial situation. On the one hand, real estate is generally a safer investment than stocks, and homeownership is one of the best ways to build generational wealth,” Jaime says. “Although homeownership requires a large upfront cost, rent prices are rising so fast that a monthly mortgage payment can be cheaper than a monthly rent payment — depending on a person’s location, interest rate, and home price.”
#15
Location -not just the neighborhood but the actual spot the home sits on- is important. My first home a great starter place, and I got lucky with no major issues until I’d been there for a few years. But I was on a main road, and it was noisy and DIRTY from the traffic. That was not something I could change or really work around, but I was so excited about the budget and the area and other things that I missed that major piece when I bought. (Young and dumb.)
You will never be totally prepared for all the things that can go wrong. I took a shower one day then walked down to the kitchen and found my tub was now leaking through the kitchen ceiling onto the stove top. Dinner, and my budget, were destroyed, and I went through three diy fixes before I had the money saved to call in a pro to fix it.
You can live with a lot of c**p when you can’t afford to fix it. After kitchen ceiling/bathroom leak fix number two, I left the ceiling open and just taped a piece of cardboard over it to keep from having to look at the bottom of my tub from the kitchen, but to still leave it accessible for the inevitable fail of my latest fix. Cardboard duct taped to the ceiling is SUPER classy, but I forgot about it unless someone else was over.
Anyway, home number one taught me a lot, and when I sold it, I had a list of key things to find in place number two based on my experiences. Cosmetic things were not high on that list, but a bathroom that wasn’t leaking into the kitchen was #1.
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#16
I’ve learned a lot about landscape, irrigation and odds and ends from beams to plumbing.
Looking for a home I didn’t check for things like where the placement of vents were in my house (they’re in odd places on the floor), didn’t check for outlet placement) or how furniture would lay out. It’s a historic home and I knew there were always gonna be issues like that after renting one, but I wish I’d though more about it since I plan to be here as long as possible
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#17
after a few years of ownership of an old house and learning to fix and maintain it, i honestly say I can be a professional home inspector or a handyman
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“But it’s not always better to buy than rent,” Jaime added. “Renting might be better for those who need more flexibility in their lives, for example, young people who are still building their career and are willing to move often for jobs. Many Americans may also prefer the convenience of renting. If there’s a maintenance problem, they can simply call their landlord, who will schedule and pay for the cost of repairs.”
#18
That small project that you think “oh yeah that should only take a couple hours at best” will actually take you 8 hours and 4 trips to Home Depot.
Literally even working on the smallest problems in our home (I.e. repainting the laundry room) uncovers something wildly unexpected.
#19
You don’t have anyone living above or below you and it’s awesome. There’s always gonna be things but I wouldn’t change it for the world. Love it.
#20
Your monthly payment can and probably will go up. As insurance costs and property taxes rise so does the need for more escrow.
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“Even if homeownership is the right move, buying a home that’s not affordable isn’t the right move for anyone,” Jaime says “If buyers can’t purchase a home right now, that doesn’t mean they won’t be able to in the future. Waiting will give them more time to save, pay off debt or repair their credit.”
If you’re considering buying a home of your own and you’d like to learn more real estate advice from the experts, be sure to visit Clever Real Estate’s website right here!
#21
Water is the enemy. Make sure it’s never pooling near your house.
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#22
choosing which projects I want to f up myself and which ones I want to pay for
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#23
The fact that I have a mortgage is some part of the public record, and there are hundreds of companies out there that just scrape that data and send junk mail that’s made to be confused with legitimate business in order to trick seniors into sending a check.
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#24
Visit your perspective house at different times day and night. Don’t get surprised by loud neighbors, etc
Edit: traffic noise changes, lighting at night, etc. Yes, absolutely neighbors change, be prepared for that.
#25
Neighbors don’t instantly becomes buddies. Takes years.
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#26
There is good. There is never perfect. But it’s all yours.
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#27
Y’know the quote “the grass is greener on the other side”? I recently heard it rephrased as “the grass is greener where you water it” and it’s really changed my mindset around a lot of things (including homeownership).
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#28
Always buy a house on a flat lot.
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#29
Take high quality video walkthrough of place before buying…not just pictures. Then compare when you buy/after moving in.
Some people should not own houses, as they don’t maintain them (or self repair) resulting in significant unforseen problems for the next owner.
Some inspectors suck, and miss a ton of things that they shouldn’t have missed or are just lazy.
Visit your house a few times at different times before putting in final offer paperwork.
Some places have unforseen things. Eg: terrible neighbors, businesses, Loud businesses. Methhead on corner was an ahole before going to prison. Everything else was amazing.
Drive from the home to work before buying. Some routes/houses aren’t worth the commute.
#30
That I don’t want to be a homeowner. Could be that we bought to much home (size wise), could be that I don’t care for the area. It was an amazing deal, we sold for close to double what we paid 4 years ago, and I can’t wait to get to our maintenance free, very nice but very manageable apartment rental space.
Always thought owning a home was a sign of success and being an adult, didn’t realize you had to actually WANT to do all the things homeowners have to do to make it worth it.
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#31
You want a good/decent looking lawn. Try to kill it. That s**t will flourish. Don’t water or waste money on fertilizers. Just let whatever grow, grow. It all looks good. Actually that natural native diversity is even better and healthier.
#32
If you can’t spend $10,000 at a moment’s notice don’t buy a house.
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#33
Buy the tools as you need them for projects and DIY everything you can. Saves a lot of money in the long run.
#34
Window treatments are expensive af. Just paid over $6k for 22 windows. And I did the install myself.
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#35
Don’t use the inspector your real estate agent suggests.
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#36
The house is finished when the man dies.
#37
If you can’t see it, it’s probably more f****d-up than you think.
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#38
Houses make scary noises at night
#39
Here’s an important one for those looking. If you buy underneath your comfortable mortgage budget it doesn’t mean you automatically have that extra money to spend upgrading the house. Also, envision the rooms as they are don’t count on blowing out walls here and there w***y nilly.
#40
1. Even with a fresh remodel, as soon as you move out s**t starts to break.
2. All the fun projects you wanted to do all cost an arm and a leg, either 5k for snark projects or 10k for big projects. Go into them with that mindset and you won’t really get bitchslapped when the quotes come back
#41
Never again a house with a crawl space. NEVER. AGAIN
#42
It’s a lot more responsibility than I thought it would be. Often times, I feel like this property owns me and I miss the carelessness of being a renter. Being responsible for every little thing sucks, especially if you hate being a DIYer.
#43
That next time I’m just buying brand new
#44
I learned was aphids are and that I hate them.
#45
The only thing you can’t change about a home is it’s location. Everything else can be changed with time and money. Depending on your market, this can be a very important point to consider if you plan to sell. The combination of location plus nice home can often be what puts a home over the top and highly desirable among buyers.
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#46
Just expect to spend lots and lots of money for the first 5-10 years of homeownership.
#47
Don’t feel as if you have to do everything at once. Take care of Hvac, plumbing, and safety issues first, and then move on from there as needed.
#48
The last DIY’r has everything f****d. Even after passing inspection plumbers and electricians, tell me everything is a mess. I know it is which is why I don’t DIY any repairs. I have a CAT5 wired HVAC control and it took me two days to figure out where I needed to put a router.