As the US housing market continues to face challenges, Jennifer Beeston, senior vice president of lending at Rate.com, joins Brad Smith on Wealth to discuss frequent pitfalls first-time homebuyers encounter, while providing several valuable homebuying strategies.
Beeston highlights that the “two most significant mistakes” made by first-time homebuyers are entering the home search without a clear budget and failing to “vet their professionals.”
After first-time homebuyers have “secured their pre-approval and assembled their team,” she presents three essential tips.
“Firstly, steer clear of technology fatigue” that comes from excessive browsing on sites like Realtor.com and Zillow (Z, ZG). Her second piece of advice is to “play detective” and “identify any potential issues.”
“Lastly, obtain a homeowners insurance quote. In 2025, it is a harsh reality that homeowners insurance costs across the United States have skyrocketed, making homeownership potentially unaffordable. Therefore, it’s crucial to ensure you are within your budget before you begin your search,” she adds.
For more expert insights and market analysis, be sure to explore additional content on Wealth.
This article was authored by Naomi Buchanan.
