Buying your first home is likely one of the largest financial decisions you will ever make. Successful homeownership requires extensive preparation—often starting 6 to 12 months before you even attend an open house. Phase 1: The Financial Foundation (12–6 Months Out)

: Total housing costs should generally remain below 28–30% of your gross monthly income . Beyond the mortgage, factor in property taxes, homeowners insurance, utilities, and a maintenance fund (ideally 1% of the home's value annually).

: Once under contract, do not open new credit cards, take out car loans, or make large purchases. These actions can change your debt-to-income ratio and cause your mortgage approval to be rescinded. Common Mistakes to Avoid

: Lenders may approve you for a higher amount than you can comfortably manage alongside other lifestyle costs like travel or retirement savings.