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First-Time Home Buyer Guide: Save Thousands From Day One

Expert guidance from ShopProp — helping home buyers and sellers save since 2007.

Getting started with your home search

Buying your first home is exciting but can be overwhelming. Start by getting pre-approved for a mortgage, setting a realistic budget (including closing costs, insurance, and maintenance), and identifying your must-have features.

Understanding buyer agent representation

A buyer's agent represents your interests in the transaction. They help you find homes, write offers, negotiate terms, and navigate closing. After the NAR settlement, you'll need to sign a buyer representation agreement.

How to save money as a first-time buyer

Every dollar counts when you're buying your first home. ShopProp's buyer rebate can put thousands back in your pocket at closing. On a $400K home, that could be $5,505+ back — money you can use for furniture, repairs, or savings.

Common first-time buyer mistakes

Don't skip the home inspection. Don't max out your budget. Don't forget about closing costs (typically 2-5% of purchase price). Don't waive contingencies just to win a bidding war. And don't overpay on agent fees.

Down payment assistance programs

Many states offer down payment assistance for first-time buyers. FHA loans require as little as 3.5% down. VA loans offer 0% down for veterans. Combine these with a ShopProp buyer rebate to maximize your savings.

Your first-time buyer checklist

1. Get pre-approved. 2. Set your budget. 3. Choose a buyer agent (consider ShopProp for the rebate). 4. Search and tour homes. 5. Make an offer. 6. Get inspections. 7. Close and move in.

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ShopProp's flat $4,495 fee saves you more than any percentage-based agent. Managing broker on every team.

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