The 7 Biggest Mistakes First-Time Buyers Make (and How to Avoid Them)

Let’s be real—buying your first home can feel a bit like heading into boot camp. There’s excitement, a little bit of fear, and a whole lot of unknowns. As The Marine REALTOR, I’ve guided plenty of first-timers in Indianapolis and beyond who marched in with big dreams, only to trip over a few avoidable landmines. So, let me be your guide—here are the seven biggest mistakes first-time buyers make (and how you can dodge them, Marine-style).

1. Skipping the Pre-Approval Process

Imagine this: You’re at an open house on a sunny Saturday in Broad Ripple, picturing backyard barbecues and cozy winter nights. You’re ready to make an offer—until you realize you haven’t gotten pre-approved. Suddenly, another buyer swoops in, offer in hand, and the home slips away. It’s like showing up to drill without your boots. In the Indianapolis market, pre-approval isn’t just paperwork—it’s your green light to move forward, fast.

Pre-approval shows sellers you’re serious and gives you a clear budget. It also saves you from heartbreak over homes that are out of reach. If you’re not sure where to start, connect with a trusted local lender or ask me for recommendations. I’ve got a list of pros who know the ins and outs of Indy’s housing market.

2. Not Setting a Realistic Budget

Here’s a story: I once worked with a couple who fell in love with a classic Meridian-Kessler Tudor. Gorgeous, sure—but the price tag meant no room for vacations or Friday nights at St. Elmo’s. We regrouped, ran the numbers, and found a charming Irvington bungalow that left them with breathing room in their budget—and a little extra for their favorite local pizza spot.

My advice? Add up your monthly expenses—don’t forget utilities, maintenance, and property taxes—and see how a new mortgage fits into your life. Indianapolis offers a wide range of price points and neighborhoods, so finding the right fit is absolutely possible. Remember, your home should serve your life, not the other way around.

3. Overlooking Additional Expenses

It’s easy to focus on the price tag, but don’t forget about closing costs, inspections, moving trucks, and the inevitable first trip to the hardware store. In Indy, closing costs usually run 2–5% of your purchase price. I always recommend buyers set aside a “just in case” fund—think of it as your homeownership emergency kit.

And if you’re eyeing one of those beautiful old homes in Lockerbie Square or Fountain Square, budget for higher maintenance or unexpected repairs. It’s better to be over-prepared than blindsided by a leaky roof or aging furnace. If you need help estimating costs, I’m happy to walk you through what to expect based on the neighborhood and type of home you’re considering.

4. Ignoring the Importance of Location

Let me share a quick anecdote: A client once bought a house with an amazing backyard—unfortunately, it was a 45-minute drive from work and nowhere near their favorite coffee shop. The commute wore them down fast. You can repaint a room, but you can’t move a neighborhood.

Indianapolis is a city of unique communities, each with a distinct vibe. Whether you want the walkability of Mass Ave, the family-friendly parks of Carmel, or the historic charm of Irvington, spend time exploring. Visit at different times, talk to locals, and check out schools, parks, and shops. The right location will make your new house truly feel like home.

5. Skipping the Home Inspection

Tempted to waive the inspection in a hot market? I get it—but don’t. I once saw a buyer skip this step, only to discover a basement leak after the first heavy rain. A good inspector is like your recon team—they’ll spot issues you might miss, from faulty wiring to hidden mold.

Especially in Indy, where older homes are common, inspections are crucial. Review the report carefully, ask questions, and use the findings to negotiate repairs or credits. If something serious comes up, you can walk away—no harm, no foul. Think of it as your last line of defense before making the leap.

6. Letting Emotions Take Over

House hunting is an emotional rollercoaster. I’ve seen clients fall head over heels for the first place they see, only to regret it later. My advice? Make a list of must-haves and stick to it. If you’re feeling overwhelmed, hit pause and talk it out with your agent (that’s me) or a trusted friend.

Remember, patience is a virtue—even outside the Corps. Don’t rush. Indianapolis has a steady flow of new listings, so the right home will come along. Trust your gut, but temper it with logic and a clear plan. You’ll thank yourself down the road.

7. Not Working with a Local Real Estate Agent

Real estate is local, and you need someone who knows the terrain. As The Marine REALTOR, I’m more than just your agent—I’m your advocate, your strategist, and your boots on the ground. I’ll help you spot great deals, avoid pitfalls, and navigate the paperwork like a pro.

From Broad Ripple to Beech Grove, I know the ins and outs of the Indianapolis market. I’ll connect you with trusted inspectors, lenders, and contractors, and make sure you’re informed every step of the way. Consider me your home-buying wingman—I’ve got your six.

Bonus Tips for First-Time Buyers

• Explore first-time buyer programs: Indiana offers down payment assistance and special loan options. Start your research at the Indiana Housing & Community Development Authority.
• Stay flexible: Your dream home may not look exactly as you pictured. Be open—you might be surprised what feels like “home.”
• Think long-term: Will this house still work for you in five years? Consider your future plans as you shop.
• Lean on your Indy community: Neighborhood forums, local Facebook groups, and city resources can give you the inside scoop on schools, safety, and amenities.
• Ask questions—lots of them: No question is too small. Whether it’s about the buying process, a specific property, or the city itself, I’m here to help.
• Get to know local resources: Check out the City of Indianapolis website, local utilities, and community centers for info on your future neighborhood.

Guidance for Your Next Steps

So, what’s next? Start by getting your finances in order and making a list of your priorities. Take time to explore different Indy neighborhoods—walk around, visit local shops, and imagine your daily routine. When you’re ready, reach out to a local lender for pre-approval and connect with a real estate agent who truly knows the area (hint: I’m always here for you).

Remember, buying your first home is a journey, not a sprint. There will be challenges, but with the right preparation and a trusted guide, you’ll find your perfect fit. I’m here to help you every step of the way—answering questions, offering advice, and making sure you feel confident at every turn. Semper Fi!