Smart Strategies For First-Time Homebuyers in Maryland

Buying your first home in Maryland can be an exciting yet overwhelming process. There are many considerations to make prior to buying a home, and we’ve compiled a list of strategies to help make your experience both enjoyable and successful. 

Understand Your Budget

Before doing home searches, determine how much you can afford by considering your income, expenses, and debt. Use online calculators to estimate monthly mortgage payments, property taxes, and insurance costs. 

Get Pre-Approved for a Mortgage

Before house hunting, get pre-approved for a mortgage to know your borrowing capacity. This makes your offer more attractive to sellers and speeds up the closing process.

Factor in Closing Costs

Be prepared for closing costs, which can include fees for inspections, appraisals, and title insurance. Plan for these costs in addition to your down payment.

Research Maryland’s Housing Market

Get a better understanding about the real estate market in the specific area where you want to buy. Look at recent home sales, trends, and property values. Other factors include: 

Days on Market (DOM)

The average number of days a property stays on the market can indicate the market’s competitiveness. A low DOM may suggest a seller’s market, while a high DOM may indicate a buyer’s market.


If you commute to work, think about the way(s) in which you will get there, and what factors will influence traffic patterns at different times of the day.

Neighborhood Analysis

Identify where the closest amenities are located, research the quality of schools (if applicable), and learn about existing crime rates. Consider any upcoming developments or changes that might affect property values, noise levels, and/or traffic.

Attend Homebuyer Education Classes

Homebuyer education courses are available throughout the state of Maryland. These classes cover everything from the mortgage process to home maintenance. Being informed and educated in your home buying process can be beneficial. 

Work with a Knowledgeable Real Estate Agent

At Corner House Realty, many of our agents grew up in and around the areas we serve. We have the expertise and connections to help our clients throughout the homebuying process, with a customized experience that our  boutique real estate agency can provide. 

Visit our website to learn more about buying a home, or give us a call at 443-499-3839.