Preparing to buy your first home before you begin your homebuying journey can help prevent a lot of stress.
Like the rest of the country, Pennsylvania's real estate market is becoming more expensive, and its buyer demographics are changing. First-time buyers should research the process carefully, knowing that the up-front costs may be greater than expected, before making an offer on a home with confidence. Here are some things you can do to make the journey smoother.
1. Saving Enough Money
Knowing the trends before viewing homes sets expectations for price and competition. According to industry averages, the median down payment for all home buyers in the United States was 19% of the purchase price in 2025, with an average of 10% for first-time homebuyers. On a median-priced home, this can amount to tens of thousands of dollars, not including closing costs and taxes.
In some areas, the costs of closing can be substantial. Closing costs typically run between 1% to 3% of the loan amount. The final costs can include lender fees, title insurance and recording fees. Consider including closing costs in your down payment savings to make your budget feel more realistic.
2. Improving Your Credit
While saving, work on excellent credit scores. Get a handle on your finances by checking your credit reports, paying off high-interest debt, and understanding how lenders evaluate your income, savings and credit history.
Getting preapproved means you know what you can afford in a home, and it gives you leverage when you find the right house. That's why many experienced mortgage professionals recommend getting preapproved before you start shopping to avoid disappointment or delays later.
Since a home is the most significant investment you’re likely to make, Members 1st Federal Credit Union prioritizes guiding first-time buyers. Whether you're applying for low-down-payment loans or state-backed first-time buyer programs, a lender that prioritizes client education can ensure you understand the terms, timelines and thresholds throughout the purchasing journey.
In addition to having savings on hand, it helps to know whether you can afford monthly payments, how those payments fit into your other monthly expenses, and whether you have savings to cover closing costs, moving costs and home repairs.
3. Support During the Process
Homebuying follows a sequence and begins with financial preparedness, house hunting, making an offer, inspections, appraisals and closing on the home. Each stage has its own timeline and paperwork.
Preparing to buy your first home is complex, so it can be useful to read about the process first. Attend a first-time buyer seminar, check out what your housing authority and local governments offer, or ask your real estate agent or lender to explain what to expect at each stage. Knowing the workflow makes decision-making easier and less stressful.
Surround yourself with people you trust. Find professionals who explain jargon clearly and offer advice that matters. It helps to have agents who know the local markets, inspectors who list everything they see, and lenders who provide tailored projections.
How Do You Prepare for Buying Your First Home?
Prepare for the homebuying process as a first-time homebuyer by educating yourself, increasing financial literacy and teaming up with others. Removing emotion as much as possible will allow you to make a wise financial investment. With data-driven preparation and trusted guidance, you can find your homeownership pathway and achieve your goals with confidence.
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