As challenges persist in the US housing market, Rate.com senior vice president of lending Jennifer Beeston joins Wealth with Brad Smith to outline common mistakes the first-time homebuyer can make, while shining a spotlight on several homebuying tips.
Beeston says the “two biggest mistakes” she sees first-time homebuyers make are jumping into house hunting without making a budget and “not vetting experts.”
She outlines three tips for first-time homebuyers after they have “gone through that pre-approval and they’ve picked their team.”
“First of all, avoid tech fatigue” from spending too much time on Realtor.com, Zillow (Z, ZG), and other sites. Her second tip is to “play detective” and “look for any potential problems.”
“Thirdly, get a homeowners insurance quote. The unfortunate reality of 2025 is that homeowners insurance across America has soared, and it can really make homeownership unaffordable. So we really want to make sure you’re going to be in that range before you start shopping,” she adds.
To watch more expert insights and analysis on the latest market action, check out more Wealth here https://finance.yahoo.com/videos/series/wealth/
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