Here's a statistic that should stop you in your tracks.
First-time homebuyers now make up just 21% of all home purchases—the lowest share in over 40 years of tracking. The median age of a first-time buyer has climbed to 40 years old, up from the late 20s just a generation ago.
What's Going On?
Part of it is affordability and inventory challenges. The typical down payment has more than doubled—from about $13,900 in 2019 to over $30,400 in 2025.
But here's the uncomfortable truth: Many would-be homeowners are making avoidable mistakes that delay their purchase by years—or worse, lead to financial disasters after they finally get the keys.
The Cost of Getting It Wrong
Buying a home is likely the largest financial decision you'll ever make. The difference between doing it right and doing it wrong can be:
- Tens of thousands of dollars in unnecessary costs
- Years of financial stress from being house-poor
- Lost opportunities while more prepared buyers snap up homes
- Deal-killing surprises that derail your purchase at the last minute
What You'll Learn
In this course, we'll walk through the 10 most common first-time homebuyer mistakes:
- House hunting before getting pre-approved
- Thinking you need 20% down
- Making big purchases before closing
- Skipping the home inspection
- Not shopping around for lenders
- Forgetting the true cost of homeownership
- Draining your emergency fund
- Ignoring first-time buyer programs
- Changing jobs during the mortgage process
- Making emotional decisions instead of financial ones
More importantly, you'll learn exactly how to sidestep every single one.
You don't have to be one of the struggling 21%. You can be one of the prepared, informed buyers who navigates the process successfully.
Key Takeaway
First-time homebuyers face unprecedented challenges, but many struggles are self-inflicted through avoidable mistakes. Understanding these pitfalls before you start shopping can save you thousands of dollars and years of stress.