Buying a first home requires financial preparation, including assessing readiness for added costs like maintenance, taxes, and insurance. Reducing debt is important since lenders consider debt-to-income ratios. Mortgage, taxes, and insurance should be 25%-30% of gross income. Getting preapproved helps set a price range. Working with a real estate agent aids in market insight and negotiations. Various loan programs and assistance options are available. After an offer is accepted, inspections, appraisals, and closing follow.