5 Key First Home Buying Tips

Lauren Koch
Oct 7, 2024
3 min read

What We Wish We Knew Before Buying

In 2010, we took the plunge into homeownership just before getting married. We were young, in love, and, honestly, pretty clueless. We bought a 3-story condo in Lakewood, Dallas, without even looking at other properties (in hindsight, probably not our best move). Looking back, we were lucky in so many ways, but there’s a lot we didn’t know at the time. Here's what we learned through the process—and what we wish we had considered from the start.

1. Choosing the Right Location: Don't Forget About Your Commute

We chose Lakewood because it was down the street from where we lived previously and close to my family. We loved the walkability to Whole Foods, Matt’s El Rancho (at the time), and White Rock Lake. It was perfect...except for the small detail that it was nowhere near my office in Grapevine, and Tucker’s office and family in North Dallas. A major lesson learned: make sure the location fits your lifestyle and commute, not just your favorite spots.

2. Open Concept Living: Great for Entertaining, Not So Great for Relaxing

We loved our 3-story, open-concept condo...until I realized it wasn’t as comfortable as I’d hoped. The second floor, where the kitchen, dining, and living spaces were all combined, was great for entertaining (which Tucker loved). But as the homebody in the relationship, I struggled to find a quiet spot to decompress. Sometimes, you just need a little silence, and with everything in one big room, that was hard to come by.

3. Long-Term Real Estate Strategy: First Home Buying Tips for Future Investments

A year and a half after buying, we moved to Austin for a job opportunity Tucker couldn’t pass up. At the time, we didn’t think about the long-term implications of buying that condo. We didn’t ask ourselves questions like, “Is this a forever home? Could this be an investment property?” We wish we’d realized how powerful owning real estate could be for building wealth and how important it is to consider your long-term plan—even if life takes an unexpected turn. Always think about resale value and future potential when buying your first home.

4. Home Affordability: It’s More Than Just Your Mortgage Payment

Of course, you’ve got taxes and insurance to think about—those are non-negotiables. But then there’s everything else: the cost of appliances, furniture, and those unexpected repairs that always seem to happen at the worst possible time. We hadn’t fully considered how much it would take to furnish and maintain a 3-story condo after moving from a small duplex. When budgeting, be sure to factor in these extra expenses, so they don’t catch you off guard.

5. Making Your First Home Your Own: Cherish the Firsts

Despite the bumps (and the lack of pictures), we made countless memories in our first home and only wish we had more to show for it. One of the most sentimental things we did was commission a custom piece of art featuring the Lakewood Theatre with personal details. It was the start of a tradition, and we’ve continued commissioning similar pieces for every home we've lived in since. These pieces still hang on our walls, reminding us of the start of our homeownership journey. Personal touches like this make your home truly yours and create lasting memories.

Bonus: A Glimpse into Our First Home

I dug up a couple of photos from our first home (and a couple random—because apparently we forgot to take any pictures together back then). It’s a small slice of history, but it’s fun to look back!

Looking back, buying our first home was a huge learning experience. From understanding the importance of location and commute to realizing how much more goes into affordability beyond the mortgage, we learned valuable lessons that have shaped the way we approach real estate today. These first home buying tips are what we wish we had known before making our purchase, and we hope they help guide you through your own home-buying journey. Homeownership is a journey, and with the right knowledge, it can be one of the most rewarding experiences.

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