Buying a home for the first time is a major milestone—but it can also come with a steep learning curve. If you’re planning to buy a home in Lebanon, there are a few things that might not be obvious until you’re already deep in the process.
This guide breaks down 10 key things that often surprise first-time buyers and offers practical insights to help you feel confident every step of the way. And when you’re ready for some help, the agents at Brendan Callahan Realtor - Susan Cole Realty Group are here to guide you home.
1. The Homebuying Process Has More Steps Than You Might Expect
It’s easy to assume that buying a house just means finding one you like and making an offer—but there’s much more to it. You’ll start by getting pre-approved for a mortgage, then begin house hunting, make an offer, negotiate terms, schedule inspections, navigate appraisals, and finally close the deal.
Each of these steps can involve its own set of decisions, paperwork, and timelines. Having an experienced agent by your side can make a huge difference—they’ll help you avoid common pitfalls, stay organized, and reduce the stress that can come with managing everything on your own.
2. Location Really Does Matter—Sometimes in Unexpected Ways
In Lebanon, the difference between neighborhoods can be significant—sometimes just a few streets apart can mean different school districts, commute times, property tax rates, or access to local amenities.
It’s not just about whether a home is close to downtown or near a park. You’ll also want to consider things like resale potential, seasonal road conditions (hello, New England winters), and even how close you are to essentials like grocery stores, hospitals, and good coffee. Local knowledge is key—an agent who knows the area well can help steer you toward neighborhoods that match your goals and lifestyle.
3. Not All Properties Are Created Equal
First-time buyers often start with a picture of their “dream home,” but it’s important to stay open to different types of properties. Single-family homes offer privacy and space, but they come with full responsibility for maintenance. Condos often include shared amenities and reduced upkeep, but you’ll also have association fees and community rules to consider. Townhomes fall somewhere in between.
Each type has trade-offs in terms of cost, responsibility, and lifestyle fit. The right choice depends on what matters most to you—whether it’s having a backyard, avoiding yard work, or having a walkable location.
4. Your Budget Should Include More Than Just the Listing Price
Many buyers focus on the sale price of a home without accounting for all the extra costs that come with ownership. In addition to your down payment and mortgage, you’ll need to budget for closing costs, property taxes, homeowner’s insurance, utility bills, maintenance, and potentially HOA or condo fees.
Even simple things like heating costs, trash pickup, and internet availability can vary widely in Lebanon, especially if you’re buying in a rural area. Setting a comprehensive budget upfront will help you shop confidently and avoid financial surprises later.
5. A Home Inspection Is One of the Most Valuable Investments You’ll Make
When you find a home you love, it’s easy to get emotionally attached—but don’t skip the inspection. A professional home inspector will take a detailed look at everything from the roof to the foundation, including electrical, plumbing, HVAC systems, and more.
The inspection can uncover hidden issues that may not be obvious during a showing—like moisture in the basement, an aging roof, or outdated wiring. Having this information upfront lets you make informed decisions, negotiate repairs or credits, or in some cases, walk away if the issues are too serious.
6. Closing Costs Can Catch You Off Guard if You’re Not Prepared
Many first-time buyers are surprised to learn they need to bring more than just their down payment to closing. Closing costs can include lender fees, title searches, transfer taxes, prepaid insurance, and other administrative costs. These fees typically range from 2% to 5% of the purchase price.
In Lebanon, closing costs can vary depending on the property type, location, and lender. Getting a clear estimate from your lender early on will help you plan ahead and avoid scrambling at the last minute.
7. Homeowner’s Insurance Is Required—And It’s Worth Shopping Around
Before you can close, your lender will require proof of homeowner’s insurance. This coverage protects your investment in case of fire, theft, or storm damage—and some policies also include liability protection if someone is injured on your property.
Rates can vary based on location, property features, and even the age of the roof or heating system. It’s smart to compare a few options, and don’t be afraid to ask questions—some policies include valuable extras like equipment breakdown or water backup protection that can save you money down the road.
8. A Home Warranty Can Be a Lifesaver (Especially in Year One)
While homeowner’s insurance covers damage from external events, a home warranty covers repairs or replacements for things that break down due to normal wear and tear—like your furnace, hot water heater, or kitchen appliances.
For first-time buyers who may not have experience with home repairs—or who want a little extra peace of mind—a warranty can be a worthwhile add-on. They typically last one year and are sometimes included by sellers as part of the negotiation.
9. Home Appreciation Isn’t Guaranteed, But It’s a Good Long-Term Bet
Real estate in Lebanon has historically shown steady appreciation, especially in areas near strong schools, hospitals, or growing downtowns. That said, appreciation takes time—it’s not a quick return on investment.
Buying a home should primarily be about finding a space that fits your needs and lifestyle. If the property also gains value over time, that’s a great bonus. Just be sure to approach the purchase with realistic expectations and a long-term mindset.
10. Resale Value Starts the Day You Buy
Even if you’re not thinking about selling anytime soon, it’s smart to consider resale value when choosing a home. Homes in desirable neighborhoods, with flexible layouts, good light, and curb appeal tend to hold value better over time.
Think about future buyers—what will appeal to them? Avoid overly specific renovations or floor plans that could limit your home’s appeal down the road. A little foresight now can pay off later, whether you’re upsizing, downsizing, or relocating years from now.
Final Thoughts
Buying your first home in Lebanon is a big decision—and it’s okay to feel both excited and overwhelmed. By taking the time to understand the process, budgeting thoroughly, and partnering with a knowledgeable local agent, you’ll be setting yourself up for a successful purchase.
If you have questions or want to start your search, the team at Brendan Callahan Realtor - Susan Cole Realty Group is here to help. Whether you’re months away or ready to go now, we’re happy to answer your questions and support you every step of the way.
📞 Call us at (603) 443-3149
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