My Advice on Buying Your First Home

Buying a home is no small feat — and because prices and mortgage rates remain high relative to a few years ago, it might feel like it doesn’t make sense to do it at all. It’s true that buying a home right now isn’t right for everyone, but it is a good choice for some. Here are a few of my thoughts on buying your first home in 2025:

First, it’s impossible to predict the market, so don’t try to. Yes, there are general trends you can examine, but there’s an “expert” out there claiming every possible outcome. The truth is that we don’t know what tomorrow will bring, period, and with that comes the fact that buying a home is a risky endeavor. Renting, on the otherhand, presents a different type of risk. Like all major decisions, it’s important to weigh the risks vs. benefits before diving into homeownership.

If buying a home is important to you and you’re in the financial position to do so, then I say go for it! But you’ve got to be sure that you can actually afford it.

Although it’s not necessary to put 20% down (in fact, it’s often not recommended for first time homebuyers) it’s vital to have some money set aside for a few reasons. Even though you will have inspections before buying your home, you may end up needing to tackle a major repair just a few months in. Take my word for it; we had thorough inspections on our current home and ended up with a sewer problem that emerged later. If we didn’t have money set aside to address a problem like that, we’d be in big trouble.

In addition to surprise repairs, there’s also the cost of maintaining a home, which is not insignificant. You’re no longer a renter, so pest control, landscaping, painting, and any other maintenance costs need to be addressed by you.

When you buy your first home, even if you’re coming into it with a bunch of stuff, you’re still going to end up spending money on furniture, art, decor, paint, etc. Your current couch might not be big enough for your new space, and maybe that long hallway you have would look so nice with a rug. It’s inevitable that you will be spending money (and likely more than you thought) on making your home feel like you!

I also think it’s essential to be realistic when buying your first home. Unless you’re a multi-millionaire, don’t expect to find a house that checks all of your boxes. Honestly, even if you are a millionaire! Because no matter what, there will be things about your home you wish were different. Focusing on the little things that aren’t perfect is not the right way to look at a property, especially your first. What are its strengths? What makes it special or comfortable? How can you build on those qualities? Why is it a valuable asset that would be appealing to future buyers? Most likely, your first home is not your forever home (although maybe it will be!). If you’re too picky, you’re going to miss out on some great opportunities.

My last piece of advice is to think of your first home as an investment that you may some day sell. This perspective is a little sterile, but I think it’s helpful for making a truly sound financial decision. Buy a home that has qualities that will make it easy to sell in the future, and consider location especially. It may be a cliche, but it’s true: location, location, location. It’s everything! Buying the “worst” house in a great neighborhood is a much smarter choice than buying the nicest house on the street.

Have questions about buying or selling a home? Email or DM me on Instagram at julia@buyselltucsonhomes.com or @TucsonInsideAndOut.