Top 5 Things First-Time Homebuyers Regret Not Knowing

Buying your first home is exciting—but it’s also a major financial and lifestyle decision. In Bend and across Central Oregon, competition, rising prices, and evolving homebuyer needs have created a unique environment in 2025. While many buyers walk away thrilled, some are left saying, “I wish someone had told me…”

Here are the top 5 things first-time buyers often regret not knowing—and how you can avoid those missteps.

1. "I Didn’t Budget for All the Upfront Costs"

Many buyers focus only on the down payment. But the true cost of closing can surprise you.

What they wish they knew:

• Closing costs often add another 2–5% of the purchase price.

• You'll also need money for inspections, appraisals, and sometimes repairs before move-in.

• Moving expenses, furniture, and utility setup fees can add up quickly.

Tip: Ask your lender and agent for a detailed breakdown of all anticipated costs well before closing day.

2. "I Chose the Wrong Neighborhood"

Bend, Redmond, Sisters, and La Pine all offer different lifestyles. First-time buyers sometimes pick based on price alone—then later realize the location doesn’t align with their needs.

What they wish they knew:

• Commutes, school zones, noise levels, and traffic patterns matter more than you think.

• Being too far from town can feel isolating—especially in snowy months.

• Some neighborhoods are more renter-heavy, while others are family- or retiree-focused.

Tip: Spend time in neighborhoods at different times of day. Talk to locals. Don’t rush the decision.

3. "I Underestimated the Cost of Owning a Home"

Owning is very different from renting. Even newer homes need upkeep, and older homes can become money pits if you’re not prepared.

What they wish they knew:

• Property taxes, home insurance, and utility bills are just the beginning.

• Unexpected repairs—like replacing a hot water heater or fixing a roof leak—can hit fast.

• Lawn care, snow removal, and general maintenance all add to your monthly costs.

Tip: Build a homeownership “buffer” fund into your budget for repairs and maintenance—plan for at least 1% of your home’s value annually.

4. "I Skipped the Right Inspections"

Some buyers are tempted to skip certain inspections to win bidding wars or save money. But that $500 savings now can cost you thousands later.

What they wish they knew:

• Always get a general home inspection, but also consider septic, radon, pest, and well inspections, depending on the property.

• Central Oregon’s older homes (and rural homes) may hide issues underground or in crawl spaces.

Tip: Don’t waive inspection contingencies. Use them to negotiate repairs or walk away if major problems arise.

5. "I Didn’t Think About Future Resale Value"

In the excitement of buying, many forget to ask: Will this be a good investment?

What they wish they knew:

• Unique or quirky layouts, outdated finishes, or odd locations may make it harder to resell.

• Homes with flexible space (home offices, guest quarters, ADUs) have stronger long-term demand.

• Features like walkability, school districts, and proximity to trails or recreation areas matter to future buyers.

Tip: Even if it’s your “starter home,” think like a future seller.

Bonus: Central Oregon-Specific Regret

"I Didn’t Plan for Snow, Smoke, or Summer Tourists"Yes, this is real! Depending on where you buy, you may be surprised by:

• Winter snow removal responsibilities

• Smoke season air quality impacts

• Increased traffic and noise during tourism peaks

Buying your first home is a huge step. The more informed you are, the fewer regrets you’ll have. Partner with a local expert who can guide you through the Central Oregon market—and help you feel confident in every decision.

FAQs

Q: How much do I need to buy a home in Bend right now?

A: Entry-level homes often start in the mid-$400Ks, but creative strategies—like buying in Redmond, La Pine, or looking at fixer-uppers—can help.

Q: Are there programs to help first-time buyers in Central Oregon?

A: Yes. Look into Oregon Bond Programs, RootedHomes, and Habitat for Humanity for down payment or affordability assistance.

Q: Should I buy now or wait?

A: Waiting can mean saving more—but home prices and interest rates may not wait for you. Talk to a local agent or lender to model your specific situation.