The first-time buyer's checklist for 2026

Buying your first home is exciting, and a little terrifying. The good news is that almost every stressful moment can be avoided with a bit of preparation. Here's the checklist we give every first-time buyer.

1. Get pre-approved before you search

A pre-approval letter tells you exactly what you can spend and shows sellers you are serious. In a competitive market, many sellers won't look at an offer without one.

2. Work out the true monthly cost

Your mortgage payment is only part of the picture. Add property tax, insurance, HOA fees and a maintenance budget of about 1% of the home's value per year.

The best time to find out what you can afford is before you fall in love with a house.

3. Write a must-have list, and a nice-to-have list

Be strict. Location and layout are hard to change; paint and kitchens are not.

4. Never skip the inspection

An inspection costs a few hundred dollars and can save you tens of thousands. Go along, ask questions and take photos.

5. Leave room in your budget for moving day

Closing costs are usually 2–5% of the price, and there's always something you need to buy in the first week.