Millenial First-Time Homebuyer Checklist

First-time homebuyers, schedule a home inspection from Old Line Home Inspections.

Millennials buying your first house? Here is your condensed checklist.

Know how much you can afford by calculating expenses using the tried and tested “28% rule “.

Save, save, save for a down payment.

Check your credit rating and takes steps to improve it if needed.

Research mortgage options and get pre-approved for a home loan. For a detailed list of top mortgage lenders for first-time homebuyers the go to

Discover the area and neighborhoods you would like to live in.

Know what to look for and find that perfect home.

Watch for the “red-flag” items which come with significant costs to repair.

  • Roof – look for peeling curling or shingles
  • Structure – Look for long cracks in the foundation that run diagonal or horizontal.
  • Windows – Are they clear? Double or single-paned?
  • Furnace – Is it more than 15 years old?
  • Air Conditioning – Is it more than 15 years old?
  • Water Heater – Is it more than 10 years old?

Attend open houses and tours.

Make an offer and know you have leverage with the seller because you have no contingencies.

Negotiate real value with the seller by utilizing your real estate agent's experience to make a solid offer.

Congratulations, now you have bought a house!

Find a great home inspector who is trained to look for the “red-flag” items listed above and will provide a detailed Home Inspection Report that can act as an objective guide to confirm the home’s value.

Get a home appraisal to determine the value of the home is in line with what you are paying.

Renegotiate if the home inspector or appraiser finds any fault in the home.

Hire a real estate attorney if you are not utilizing a title company to finalize the purchase.

Close on the home.

At Old Line Home Inspections, we are dedicated to making sure first-time homebuyers have all of the information needed to feel secure in their home purchase. For more information, call (410) 236-3027 or click here to schedule an appointment.