Gary Goebel
Certified Property Manager

With more than four decades in retail and office real estate, I’m offering practical advice to help tenants, landlords and everyday residents better understand real estate. This column is directed at individuals and families who are thinking about purchasing a primary residence — whether that’s months away or still just an idea.

Buying a home is one of the biggest financial decisions most people will ever make. It can be exciting, stressful and confusing all at the same time. Following some basic “dos and don’ts” can help you avoid costly mistakes and put you on a path toward successful homeownership.

1. Start with a favorable mortgage

The single most important step in the homebuying process is obtaining a mortgage you can realistically afford. Until this step is complete, everything else is premature. For many buyers, this may take months or even years, and that’s okay.

Begin by meeting in person with a local banker. This banker may not ultimately be your lender, but a local loan officer can help you understand your credit, income and savings and help you develop a plan. Often, you’ll be encouraged to open a bank account — and that’s a smart move. Very few home loans are made to individuals without an established banking relationship.

2. Maintain a healthy bank account

Once you have an account, keep a reasonable balance and use it regularly. You don’t need to pay every bill from this account, but paying some recurring expenses shows lenders financial stability and consistency. These patterns matter when a lender evaluates your loan application.

3. Have legal help lined up

Real estate transactions involve contracts, negotiations and legal obligations. Having an attorney available — even if you don’t end up needing extensive legal help — is a smart precaution. It’s far better to have professional assistance from the beginning than to scramble for a solution after a problem arises.

4. Don’t look at homes until you’re ready

This is a mistake many buyers make. Looking at properties before you are financially prepared wastes time and creates unrealistic expectations. Buyers often hear about a home selling “below market” and think they missed out on a deal. In reality, most real estate transactions involve back-and-forth negotiations, inspections, repairs and compromises. What looks simple from the outside, rarely is.

5. Understand inspections and appraisals

Lenders will require an appraisal, and most buyers should insist on inspections. The most critical inspection areas include the roof, heating and cooling systems, electrical systems and the structure itself. These components can be expensive to repair and should never be overlooked.

6. Prioritize what matters most

Before choosing a property, make a list and rank what’s important to you. How many bedrooms and bathrooms do you need? Is a basement essential? How many steps can you manage? Do you need central air, a large kitchen, or a specific layout? Consider which zip codes fit your lifestyle and budget. Decide whether a garage or private driveway is necessary. Knowing your priorities helps you make better decisions and avoid buyer’s remorse.

7. Hire an experienced real estate agent

A knowledgeable, full-time real estate agent can guide you through the process and help you avoid pitfalls. Hiring a relative is fine if they are experienced and actively working in the market you’re entering. Ask which inspectors, engineers or roofers your agent works with — these relationships matter. Also ask whether they can recommend additional lenders. Having more than one lending option is always helpful.

Owning real estate is not easy, but it remains one of the most common ways people build long-term wealth — and it means no longer dealing with a landlord. Preparation, patience and professional guidance can make all the difference.