Buying a first home is a significant milestone, but first-time buyers often make critical mistakes. Key pitfalls include purchasing a home beyond their budget, failing to shop for mortgage rates, and not utilizing special programs for first-time buyers. Additionally, buyers should avoid depleting their savings for a down payment and miscalculating the ongoing costs of homeownership, such as maintenance. It's essential to budget wisely and maintain a financial cushion for unexpected expenses.
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