Common Mistakes First-Time Homebuyers Make in Boston—and How to Avoid Them

As a first-time homebuyer, there are some common pitfalls that can trip you up, but with a little preparation and expert advice, you can avoid these mistakes and buy your home with confidence.

At Digital Realty US, we’ve helped countless first-time buyers navigate the Boston market. Here are the most common mistakes we see—and how you can avoid them.

Not Getting Pre-Approved for a Mortgage

The Mistake: Many first-time buyers start house-hunting before securing a mortgage pre-approval. Without pre-approval, you won’t know how much home you can afford, and when you find your dream home, your offer might not be taken seriously.

How to Avoid It: Before you start browsing homes, talk to a lender about getting pre-approved for a mortgage. This not only shows sellers that you’re serious, but it also gives you a clear idea of your budget, so you don’t waste time on homes outside your price range.

Pro Tip: Pre-approval can also give you leverage in negotiations, especially in a hot market like Boston’s, where competition is fierce.

Underestimating Closing Costs

The Mistake: First-time buyers often focus on the down payment and forget about the additional costs that come with closing a deal. Closing costs in the Boston area can range from 2% to 5% of the home’s purchase price and include fees like appraisal costs, loan origination fees, and title insurance.

How to Avoid It: Work with your real estate agent and lender to get a clear understanding of all the costs involved. Make sure to set aside a budget for closing costs, so there are no surprises at the closing table.

Pro Tip: Some closing costs can be negotiated or rolled into your mortgage. Ask your agent or lender about your options!

Falling in Love with the Wrong Property

The Mistake: It’s easy to get emotionally attached to a home, especially when it checks most of your boxes. But don’t let your heart rule your head. If a home is out of your budget, needs too many repairs, or is in a less-than-ideal location, it’s probably not the right fit.

How to Avoid It: Stick to your priorities and your budget. It’s helpful to make a list of “must-haves” and “nice-to-haves” before you start house hunting. This way, you can stay focused on what’s important and avoid emotional decisions that may lead to buyer’s remorse.

Pro Tip: Work closely with your real estate agent to find homes that fit your criteria and meet your long-term goals. A good agent will guide you through the decision-making process with a clear, level-headed approach.

Not Working with a Real Estate Agent

The Mistake: Some first-time buyers try to navigate the home-buying process on their own to save on commission fees. However, in a competitive market like Boston’s, going it alone can cost you more in the long run. Without an agent, you may miss out on the best properties or overpay for a home.

How to Avoid It: Hire an experienced real estate agent who knows the Boston market inside and out. An agent will not only help you find the right home but also negotiate the best deal and guide you through the complex closing process.

Pro Tip: At Digital Realty US, we specialize in helping first-time buyers make informed decisions. With our deep knowledge of the Boston market, we’ll make sure you avoid costly mistakes and get the best value for your investment.

Conclusion

Buying your first home is a major investment, and avoiding these common mistakes can save you time, money, and stress. At Digital Realty US, we’re here to guide you through every step of the process, from pre-approval to closing, so you can buy with confidence.