Buying your first home is a major milestone: equal parts exciting and overwhelming. For many, it’s the largest financial investment they’ve ever made and the start of a brand-new chapter. However, once the boxes are unpacked and the dust settles, a common theme emerges among first-time homeowners: “I wish I had known that before I bought my house.”
Whether you’re already living in your first home or you’re preparing to buy one, understanding what others wish they did differently can be a valuable tool. It gives you the confidence to move forward, avoid costly mistakes and ensure your living situation improves rather than adds stress.
Here are some of the most common regrets homeowners share and what you can do to avoid them.
1. Underestimating the Cost of Maintenance and Repairs
One of the biggest surprises for first-time homeowners is the sheer amount of upkeep a home requires. Things break. HVAC systems need annual servicing. Gutters clog. Landscaping grows out of control.
Common Regret: Not budgeting for ongoing maintenance and unexpected repairs before buying.
Tip: A good rule of thumb is to set aside 1-3% of your home’s purchase price annually for maintenance. So, for a $300,000 home, that’s $3,000–$9,000 a year. You might not need it all in your first year, but when the water heater gives out or the roof springs a leak, you’ll be glad you planned ahead.
2. Focusing Too Much on Aesthetics, Not Enough on Function
It’s easy to get caught up in the excitement of new finishes and trendy kitchens. Granite countertops, open shelving and shiplap walls are eye-catching, but they’re not what makes a house truly livable.
Common Regret: Not paying closer attention to layout, natural light, storage space and the flow of daily life.
Tip: During showings, walk through the house as if you live there. Where would you drop your keys? How far is the laundry from the bedrooms? Can you hear the highway through closed windows? These functional details can make or break your living experience.
3. Not Researching the Neighborhood Thoroughly
Many first-time buyers get so focused on the house itself that they forget: you’re not just buying a home, you’re buying into a neighborhood.
Common Regret: Not learning enough about the area’s traffic patterns, school quality, noise levels, future development or community vibe.
Tip: Visit the neighborhood at different times of day. Talk to neighbors. Check public records or local Facebook groups for information about zoning changes or new construction projects. It’s not just about what the neighborhood is now. It’s about what it’s becoming.
4. Skipping a Home Inspection (or Not Taking It Seriously Enough)
Some buyers waive inspections to close faster or save a little money. Others get an inspection but don’t know how to interpret the results or push for needed repairs.
Common Regret: Not hiring a reputable inspector or taking their findings seriously.
Tip: Always get a home inspection, even on new builds. If issues are found, don’t be afraid to renegotiate or walk away. Don’t just get the report. Discuss it in detail with your inspector and your agent so you know what’s urgent and what’s cosmetic.
5. Overstretching the Budget
Your lender might approve you for a higher loan amount than you’re comfortable with, but that doesn’t mean you should max out your budget.
Common Regret: Buying a home at the top of your price range and feeling “house poor” afterward.
Tip: Factor in all monthly costs, not just the mortgage. Include property taxes, insurance, utilities, HOA fees and potential upgrades. Leave room for life, emergencies, vacations, savings and fun. A home should support your lifestyle, not consume it.
6. Overlooking the Closing Process Details
Closing on a home is more than signing papers. It’s a complex process with financial and legal implications. Many new homeowners later realize they misunderstood key parts of their loan terms, closing costs or escrow responsibilities.
Common Regret: Not asking more questions and taking more time to understand the process.
Tip: Never be afraid to ask your lender, real estate agent or attorney to clarify anything you don’t understand. Write down your questions ahead of time and review every document before signing. You’re not just protecting your investment. You’re building confidence in your decision.
7. Trying to Do It All at Once
Once you get the keys, it’s tempting to dive headfirst into renovations, upgrades and decorating. However, rushing can lead to decision fatigue, budget stress and missed opportunities.
Common Regret: It was unnecessary to make every improvement right away.
Tip: Live in your home for a few months before making big changes. This gives you time to prioritize what truly needs fixing and what you can live with for a while. You’ll make better, more informed decisions and avoid burnout.
Moving Forward with Conviction
Every homeowner has a learning curve, but by listening to those who’ve been through the process, you can sidestep common mistakes and create a more confident, informed path forward.
If your current home isn’t meeting your needs, or if you’re just starting the journey, know this: you’re not alone. Everyone starts somewhere. The key is not perfection, but preparation. Learn from experience (yours and others’), surround yourself with knowledgeable professionals and trust your instincts.
This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
