3 Lessons I Learned from Buying My First House

Your first job. Your first love. Your first promotion.

"Firsts" make an impact, shaping who you become and creating experiences both good and bad that you carry with you forever. American singer-songwriter Taylor Swift once said, "You only get so many firsts; each one is a blessing."

While I might not be dancing around my house singing "Shake it Off" or "Look What You Made Me Do," Taylor is right. Your "firsts" matter. As a real estate agent, you might think I was born knowing the ins and outs of home ownership, but nope. It took a "first" of my own.

Buying My First House

Buying your first house is a firestorm of nerves and excitement, and my experience was no different.

In 2003, when I was 22 years old, I bought my first house in Moorhead, Minnesota, for a whopping $41,000. I was clueless about what to expect, as I didn't really know what the process of buying a house was. Back then, it was the dawn of the internet, and I thought it was the coolest thing in the world that I could sit there with my dial-up internet and look at houses on a computer.

Even though there were fewer hoops to jump through, and it was a simpler time, buying my first house was more difficult than I expected. I thought I could walk into a bank and say, 'I want to buy a house,' but I quickly learned there's a little more to it than that.

3 Lessons I Learned from Buying My First House

1. The Value of Working with a Real Estate Professional

In 2003, I worked with an incredible agent named Dave Cusey.

Dave has since passed, but my experience working with him changed not only my first home-buying experience but also the direction of my future career.

Why was Dave such an excellent real estate agent?

• He knew the location. Dave was very knowledgeable about Moorhead and knew everything there was to know. This was especially beneficial to me as I was not from the area. Dave helped me see considerations of the location that I wouldn't have thought of, such as driving to school or work, the location of the train tracks, etc.
• He got to know me personally. Back then, you rode with the agent when you went to look at houses. My dad and I rode with Dave and got to know him well. I can still picture Dave driving his truck and reading his real estate book at the same time.
• He looked out for me. Dave knew what to look out for on things I had no idea about. He was constantly researching behind the scenes and checking on things for me. For example, Dave found a flood certification that the bank and listing agent didn't know about, allowing me to afford the home without a colossal flood insurance premium.

Having an agent who knows the right steps and can get you on the right path is invaluable in your home buying experience.

2. The Benefits of Getting a Home Inspection

If you know my story at all, you know that before I became a real estate agent, I was a home inspector for ten years.

However, I didn't get a home inspection when I bought my first house. Back then, inspections were new, and my dad was a handyman, so I had him come and check out the house with me.

But there were still things we missed because we didn't have or know the process a home inspector does.

3. Don't Settle

If you asked me what I regretted about my first home purchase, I'd tell you that I wish I hadn't been so afraid to spend what I could. I wish I had bought more house. I was approved for more than I spent, and I could've gotten a better house in a better location with better maintenance.

I was also on a tight deadline and only looked at five houses. I found two homes that I really liked and picked the less expensive one.

"According to a report by the National Association of Realtors (NAR), the number of homes buyers looked at in 2021 dropped to eight, which is the lowest number on record since NAR started collecting data." (Source: housedigest.com)

Since becoming an agent myself, one tip I know now that I didn't back then is to sit down and make a list of priorities of what you want in the house (number of bedrooms and bathrooms, fenced yard, two-stall garage, etc.). From there, break those items down into your must-haves and your wants. You can even use these items as search criteria online when searching for houses.

Have your list and use it. Don't look at houses that don't have the things you need. In other words, ignore the trendy, new kitchen and stick to your must-haves.

Ready to buy your first home? Here's what you do.

When you're ready to buy your first home, keep these tips in mind:

• Call me! I know, I know… shameless plug, but seriously, connect with an expert who will get you on the right path.
• Call a local, reputable mortgage lender or bank and start your pre-approval process sooner rather than later. This will keep you from rushing and making decisions you'll regret later.
• Relax and enjoy the journey to homeownership!

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