Real Estate Insights

How to Afford Your First Home (Without Breaking the Bank)

By Sean Sherrie Smallwood, REALTOR® | Your Global Real Estate Partnership eXpert & Coach

Let’s be real — buying your first home is one of the biggest and most exciting moments of your life. But for many couples, it can also be one of the most overwhelming. Between student loans, rising home prices, and trying to balance careers with dreams of homeownership, a lot of people are left wondering: "How do we even start?"

The good news? You’re not alone, and with a little strategy (and the right REALTOR® on your side — hi, that’s me!), you CAN make homeownership happen.

Here are my personal tips and real talk strategies for couples looking to buy their first home without maxing out their budget or their relationship.

1. Get Clear on Your Shared Vision

Before you ever step foot in an open house, have an honest "money and goals" conversation with your partner.
➡️ What are your must-haves?
➡️ What are your deal breakers?
➡️ Where are you willing to compromise?

Buying a home is a team sport, and having clarity upfront can save you from stress (and arguments) later.

2. Create a Realistic Budget — and Stick to It

I always tell my first-time homebuyers: "Just because you’re approved for a certain amount doesn’t mean you should spend it all."

Together, sit down and look at:

• Your combined income
• Monthly debts (student loans, car payments, etc.)
• Desired lifestyle (Do you love to travel? Planning for kids?)

Once you’ve mapped this out, I can help connect you with a trusted lender to see what you can comfortably afford — not just what the bank says you can borrow.

3. Get Pre-Approved (Not Just Pre-Qualified)

Pre-approval gives you buying power — especially in competitive markets like here in Southwest Florida.
Having a pre-approval letter shows sellers you’re serious and ready, and it can make all the difference when putting in an offer.
Bonus tip: This process will also help identify any credit or debt issues that might need fixing before you buy.

4. Down Payment Strategies — It’s Not Always 20%!

One of the biggest myths I hear is "We need 20% down to buy a house."
Nope!
There are low down payment programs like FHA, VA, and even first-time homebuyer grants that can help you get in the door with as little as 3% down.

As your agent, I help you navigate these options and connect you with lenders who specialize in first-time buyer programs. Don't leave free money on the table!

5. Tackle Debt — Together

If you’re carrying student loans or credit card debt, don’t panic.
Many buyers think debt disqualifies them, but that’s not always the case.
I recommend working with a financial advisor or credit repair specialist (I have some great recommendations!) to get a plan in place to boost your credit and lower your debt-to-income ratio — which makes qualifying for a loan easier.

6. Think Long-Term, Not Just "Right Now"

Sure, that beachside condo is dreamy, but will it fit your life in 5 years?
Consider:

• Career growth
• Family plans
• Resale value

Sometimes, buying a smaller home now and building equity is the smartest step to help you afford your dream home later. I can help you think through the long-term game plan.

7. Partner with a REALTOR® Who Understands First-Time Buyers

Let’s be honest: Buying a home is a big deal, and you need someone who’s in your corner — answering all your questions, walking you through every step, and making sure you don’t overpay or miss anything important.

As a licensed REALTOR® and real estate strategist, I’m here to help educate, empower, and guide you through the process — so you can focus on building a home and life you love.

Ready to Make Homeownership Your Reality?

If you and your partner are dreaming about buying your first home — whether it's this year or in the future — let’s connect! I offer complimentary first-time buyer consultations where we’ll create a custom game plan just for you.

📲 Call/Text: 240-695-2907

📧 Email: CallSeanSherrie@gmail.com
🌐 Visit: www.SeanSherrie.com

Let’s make those #CoupleGoals a reality — together!