Buying your first home is one of life’s biggest milestones—exciting, nerve-wracking, and filled with a whole lot of “Where do I even start?” If you’ve been daydreaming about your perfect place but feel overwhelmed by mortgages, finances, and the overall process, you’re not alone. The good news? Turning that dream into reality is totally doable with the right mindset, preparation, and strategy.
We recently sat down with mortgage specialist Alana DeLong from Dominion Lending on The Country Club Podcast to break down the key steps for first-time buyers. Plus, we’re pulling in some of the best goal-setting strategies to help you stay focused and make that dream home yours. Ready? Let’s dive in.
Step 1: Get Pre-Approved—Your Home Buying ‘Golden Ticket’
Before you even start scrolling listings, your first move should be getting a mortgage pre-approval. Think of it as your golden ticket—it tells you exactly how much you can afford and prevents you from falling for a home that’s out of reach.
“Don’t go house shopping without a mortgage pre-approval—it’s like showing up at the airport without a plane ticket,” says Alana.
A mortgage broker can shop around for the best rates and terms, helping you find a deal that fits your financial situation. More options = more buying power.
Step 2: Practice Homeownership Before You Buy
Owning a home comes with new financial responsibilities, from mortgage payments to property taxes and utilities. The best way to prepare? Start living as if you already own. Calculate what your estimated monthly expenses will be and set that amount aside each month. Not only does this get you used to the budget shift, but it also builds up your savings.
Step 3: Keep Your Finances Rock-Solid
Once you’re pre-approved, don’t do anything that could mess it up. That means:
- No big purchases (yes, that means holding off on the new truck).
- No new credit cards or loans.
- No sudden job changes (if you can help it).
- No co-signing for anyone else’s loan.
A new truck payment, for example, can knock $80,000–$100,000 off your mortgage approval. Stay steady until your home is officially yours.
2025 Perks for First-Time Buyers
If you’ve been waiting for the right time to buy, this might be it. Some new programs and policy changes in 2025 are making it easier for first-time buyers to break into the market:
- 30-year amortization options are now available, giving you lower monthly payments.
- Land Transfer Tax rebates of up to $4,000 for qualifying buyers.
- FHSA accounts allow you to save up to $40,000 tax-free for your first home.
- Increased insured mortgage limits (up to $1.5 million in urban areas).
And here’s the cherry on top: Interest rates are trending downward, making mortgages more affordable.
The Secret to Actually Making It Happen? Goal-Setting.
The biggest difference between those who buy their first home and those who keep dreaming? A solid action plan. Buying a home is a goal like any other—if you don’t break it down into steps, it can feel impossible.
Here’s how to approach it:
- Write it down. Studies show that writing down your goals increases your chances of achieving them by 42%.
- Create a roadmap. Break your goal into smaller milestones—like saving for a down payment, improving your credit score, or researching neighborhoods.
- Set deadlines. Even if they’re flexible, having timeframes keeps you accountable.
- Find an accountability partner. Whether it’s a friend, family member, or real estate expert, having someone to check in with makes a huge difference.
Don’t Disqualify Yourself
You might think you’re not ready to buy a home, but the only way to know for sure is to talk to a mortgage professional. “Even if you’re a year away, get guidance now,” says Alana. Small steps today—whether it’s fixing your credit, setting up a savings plan, or exploring rental income opportunities—can make a massive difference down the road.
Final Thought: What’s Your Next Move?
So here’s the question: What’s one step you can take today to move closer to homeownership? Maybe it’s getting pre-approved, setting a savings goal, or just writing down your plan. Whatever it is, start now—your future self will thank you.
And if you want more insider tips, real-life examples, and expert advice? Tune in to The Country Club Podcast for all things home buying, investing, and making smart financial moves.
Got questions? We’d love to hear from you. Drop us a message on social or send in your real estate questions—we might even feature them on an upcoming episode!