First Time Home Buyer Checklist
29 steps across financial prep, team-building, shopping, offer & inspection, closing, and your first 7 days — the exact 2026 sequence HomeScore walks every new buyer through.
Interactive buyer checklist
What will this home really cost?
Estimate true cost of ownership — taxes, insurance, maintenance, and replacement reserves — before you even write the offer.
Frequently asked
What is the most important step for a first-time home buyer?+
Getting a fully underwritten pre-approval before you start showing. It defines your real budget, locks the lender's commitment, and gives you negotiating leverage. Most first-time buyers skip this step and over-shop, then lose offers when the underwriting reveals a gap.
What credit score do first-time home buyers need?+
Conventional loans typically require 620+; FHA loans go as low as 580 with 3.5% down (or 500 with 10% down). For the best rates, aim for 740+. Pull all three reports 90 days before applying — disputing one error can move your rate 0.25–0.5%.
How much should a first-time home buyer save?+
Three pots: (1) down payment — 3–20% depending on loan type; (2) closing costs — 2–5% of purchase price; (3) reserves — 6 months of PITI (principal, interest, taxes, insurance). Reserves are separate from down payment and are what lenders, insurers, and your future self actually need.
Should first-time buyers waive the home inspection?+
Almost never. In hot markets, some buyers waive contingencies to win — but you should know exactly what you're waiving. A safer alternative: keep the inspection for information only (no repair-credit demand) so you walk in with eyes open.
What do first-time home buyers wish they knew?+
Three things, every time: (1) the true cost of ownership runs 1–3% of home value per year in maintenance alone; (2) insurance is harder and pricier to get than it was 5 years ago — quote it BEFORE you offer; (3) the inspection report is the highest-leverage document in the entire transaction — read every page, twice.