Realistic Expectations for Homeownership

July 1, 2025

What can first-time homebuyers expect? What should they know? Here’s our overview.

A lot of people long for homeownership. If you are one of those people who are thinking about jumping into homeownership but aren’t sure if you are ready, it’s great to learn more about it to see what living in a house you own is like. What are realistic expectations for homeownership? 

Explore Your Mortgage Options

Sitting down at the closing table and receiving your house keys marks the beginning of your mortgage journey. While many buyers start with a traditional 30-year fixed-rate mortgage and a 20% down payment, there are a variety of other options available. You might choose a 15-year mortgage for faster payoff and less interest, or explore adjustable-rate mortgages (ARMs) that offer lower initial rates. Government-backed loans like FHA, VA, or USDA mortgages can provide flexibility with lower down payments or special eligibility benefits. Over time, you can also consider refinancing to lower your interest rate, change your loan term, or switch loan types entirely. Additionally, making extra payments—even on a fixed monthly plan—can help reduce your loan balance and pay off your home sooner.

You’re in Control of Your Utilities

What about living in the house as a homeowner? Expect to get to know your utilities immediately so you can quickly handle anything that goes wrong with them. Understand your water shutoff valve, electrical control panel, gas shutoff valve, carbon monoxide and smoke detectors, HVAC system, and attic access. If any of these go wrong, you will know how to “man the ship.”

You Have Ongoing Expenses

The monthly mortgage payment is just one type of regular payment you’ll be making every year. You should also understand what taxes you will need to pay annually and how much your homeowner’s insurance will be. Prepare to afford these payments every year.

You Have Ongoing Maintenance

Home maintenance is also ongoing. While it can seem like a pain, it can also be a joy to make old things new and keep your home sound and beautiful. It’s best to have an annual or semi-annual maintenance checklist and have savings in case you need to make repairs or renovations down the line.

Your Home Can Grow and Change

Living in your home day to day won’t involve constant construction work. Your home can grow into what works best for your lifestyle and personal style. What’s more, because it is yours, you can change it as you like. You’re in control, and you can love living in your home.

Let Ameri-Star Homes Build Your New Custom Home!

Ameri-Star Homes was built on the idea that a home is not complete until the homeowner is 100% satisfied. That’s right, completely satisfied homeowners. Whether you want a home built on one of our home sites or on your own land, count on the same high quality from Ameri-Star. We have set out to exceed all your expectations of integrity, affordability, and customer satisfaction. Build lasting memories for years to come with Ameri-Star Homes. 

For more information, contact us today at 410-590-1000 or through our contact page. For more helpful custom home tips, keep in touch with us through Facebook, Twitter, LinkedIn, Instagram, and Pinterest!