Every first-time buyer Paul works with starts in the same place: excited, full of questions, and convinced they need to understand everything before doing anything. The truth is the opposite. A few high-value steps done first protect the entire journey, and Paul can compress them into one focused week.
The lender conversation comes before the house hunt
The single most common mistake is shopping before financing. Buyers tour homes in a price range, fall in love, and only then discover what they can actually be approved for. Paul has seen that mismatch cost clients homes, deposits, and weeks of time.
A pre-approval from a lender who knows your market answers three questions at once: what you can borrow, what your payment would be, and which loan programs fit your situation. It also tells sellers you are real, which matters in a competitive market.
Know the costs beyond the price
- Down payment, plus closing costs that typically run 2 to 5 percent of the price
- Property taxes and homeowners insurance, often escrowed into your payment
- HOA dues if the home is in an association
- Utilities, maintenance, and the reserve fund for surprises
- Moving costs and the first-year setup budget
A comfortable payment is not just the principal and interest number. Walk through the full monthly picture with your lender and Paul before you write any offer.
Define the list before you look
Write down three non-negotiables, then a stretch list. Neighborhood, commute, schools, yard, light, square footage. That filter is what stops you from falling for a home that fails the real test, and it is what lets Paul point you at the right inventory instead of drowning you in listings.
The process has an order, and it works
Pre-approval, shortlist, tours, offer, inspection, appraisal, close. Buyers who follow the order stay calm, and calm buyers make better decisions. Paul's full eight-step timeline is in the buying guide, and his first-time buyer hub covers the questions he hears every week.
Written by Paul Knighton
Paul is an Oregon Principal Broker and Idaho Associate Broker with MORE Realty, serving buyers and sellers across the Portland Metro and the Treasure Valley. He answers every inquiry himself.
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