Avoid These Common Mistakes When Buying Your First Home in Amarillo
61% of first-time homebuyers say they wish they had better understood the financing process before purchasing.
Amarillo’s median home price is around $230,000 as of 2025 — affordability remains strong, but competition is rising.
One in three buyers regret not getting pre-approved early, and nearly 40% overlook hidden costs like taxes and repairs.
Working with local custom home builders in Amarillo gives you the edge in design flexibility and budget control.
First-time buyers often miss out on energy-saving custom built homes, which can reduce utility bills by up to 30%.
What Mistakes Should I Avoid as a First-Time Homebuyer?
1. Not Getting Pre-Approved Before House Hunting
Q: Do I really need to get pre-approved before looking at houses?
Yes — it's one of the most common mistakes buyers make. Pre-approval not only sets your realistic budget, but also shows sellers you're serious. Skipping this step could cost you your dream home. According to Zillow, 83% of successful buyers in 2024 had mortgage pre-approvals in hand before making an offer.
2. Underestimating the True Cost of Buying a Home
Q: What other costs should I plan for besides the down payment?
Beyond your down payment, plan for closing costs (2-5% of the purchase price), home inspections, appraisals, moving expenses, and maintenance. In Amarillo, that’s roughly $6,000 to $11,500 on a $230,000 home.
3. Focusing Only on the House — Not the Neighborhood
Q: How important is location when buying my first home?
Very. Think about commute times, school zones, and future resale value. Amarillo offers a range of growing neighborhoods, and with home values rising 7% year-over-year, buying in the right area can be a strong investment.
4. Skipping a Home Inspection
Q: Is a home inspection really necessary on a new home?
Yes — even new homes can have issues. An inspection could reveal problems with plumbing, roofing, or foundation. Spending $300–$500 now can save thousands in future repairs.
5. Not Considering Energy-Efficient Homes
Q: Are energy-efficient homes worth it for first-time buyers?
Absolutely. An energy-saving custom built home in Amarillo can save you $1,200+ per year on utilities. Features like spray foam insulation, smart thermostats, and double-paned windows reduce costs long-term — and they increase resale value.
6. Overlooking First-Time Buyer Programs
Q: Are there any first-time homebuyer assistance programs available in Amarillo?
Yes! Texas offers programs like My First Texas Home and Texas Mortgage Credit Certificate which offer down payment and closing cost assistance. Some buyers qualify for as little as 3% down.
7. Trying to Time the Market Perfectly
Q: Should I wait for interest rates to drop before buying?
While waiting might seem wise, timing the market is risky. Amarillo still offers strong affordability, and interest rates are stabilizing near 6.5%. Locking in now with a fixed rate and refinancing later is often a smarter move.
8. Buying Based on Emotion Instead of Long-Term Needs
Q: How can I stay level-headed during the homebuying process?
Focus on your long-term goals. Ask: Will this home grow with me? Is it near work or family? Can I afford the upkeep? These are more important than trendy finishes or curb appeal.
9. Not Exploring Custom Built Options
Q: Are custom homes an option for first-time buyers?
Yes — especially in Amarillo. Many custom home builders offer budget-friendly models or semi-custom designs. With new homes construction booming, exploring these options means you can avoid bidding wars and choose the layout you truly need.
10. Not Thinking About the Future
Q: How long should I plan to stay in my first home?
Most first-time buyers stay for 8–10 years. Choose a home that fits your next decade — not just your current situation. Think about growing families, remote work needs, and lifestyle changes.
Conclusion: Your First Home Should Be a Joy — Not a Regret
Buying your first home in Amarillo is more than a financial decision — it’s an emotional one. It’s about building your future, planting roots, and creating memories.
Whether you're exploring energy-saving custom built homes, ready to check out homes for sale in Amarillo, TX, or considering rent-to-own options, being informed is the first step to a joyful homebuying experience.
For rental or rent-to-own properties in Amarillo, be sure to visit our sister company, B&M Equities, to explore flexible housing solutions while planning your dream home.
