Luna Realty · Buyer Guide · 2026
First-Time Home Buyer in Boston
Buying your first home in Greater Boston can feel daunting — a competitive market, unfamiliar steps, real money on the line. This guide walks you through all of it, and Luna Realty guides you the whole way, at no pressure and with local expertise on your side.
The buying process, step by step
- 1
Get pre-approved
Talk to a lender and get a pre-approval letter. It tells you your real budget, shows sellers you’re serious, and lets you move fast when the right home appears.
- 2
Set your true budget
Look beyond the sticker price: plan for the down payment, closing costs, moving, and a reserve for the unexpected. We help you understand the full monthly and upfront picture.
- 3
Choose your neighborhood
Weigh price, commute, schools, and lifestyle across Boston and MetroWest. We share honest, local guidance on where your budget goes furthest for what matters to you.
- 4
Tour & write a strong offer
We tour efficiently and, when you find it, craft a competitive but sensible offer — right price, clean terms — and negotiate on your behalf.
- 5
Inspection & appraisal
We coordinate the home inspection and lender appraisal, help you interpret the results, and negotiate repairs or credits where warranted.
- 6
Closing & keys
We manage the paperwork and timeline through to the closing table, keeping every party on track so you sign, get the keys, and move in with confidence.
Budgeting: what to plan for
Beyond the down payment, first-time buyers should plan for closing costs (lender, legal, title, and prepaids), a home inspection, moving, and a reserve for early repairs. Down payment requirements vary by program — some first-time and government-backed loans allow low down payments, while more down lowers your monthly cost. And since 2024, buyer-agent compensation is negotiated in a buyer-agency agreement and may be paid by the buyer or offered by the seller. We map out your real numbers with a trusted lender before you tour, so nothing is a surprise.
First-time buyer questions, answered
How much do I need for a down payment in Boston?
There is no single answer — it depends on the loan program and price. Some first-time-buyer and government-backed programs allow low down payments (often in the low single digits of the purchase price), while a larger down payment lowers your monthly cost and can strengthen your offer. The best first step is getting pre-approved so you know your real budget.
What first-time home buyer programs are available in Massachusetts?
Massachusetts offers several first-time buyer supports, including MassHousing loans and down-payment assistance and the ONE Mortgage program, alongside federal FHA and VA options. Eligibility and terms change, so we help you compare current programs with a trusted lender and match them to your situation.
Do buyers pay their own agent in Massachusetts?
As of 2024, buyer-agent compensation is negotiated in a written buyer-agency agreement rather than assumed. Depending on the deal, it may be paid by the buyer or offered by the seller. We explain exactly how it works for your purchase upfront, so there are no surprises and you can budget accurately.
How competitive is the Boston market for buyers?
Greater Boston is a low-inventory, high-demand market, so desirable homes can move quickly and draw multiple offers. The buyers who win are pre-approved, clear on their must-haves, and ready to act — which is exactly what we prepare you to be.
How does Luna Realty help first-time buyers?
We guide you end to end: getting pre-approved, choosing the right neighborhood, touring efficiently, writing a competitive but sensible offer, and navigating inspection, appraisal, and closing. With deep Greater Boston and MetroWest knowledge, we help you buy confidently — not just quickly.
Let’s find your first home
We help our clients sell, buy or rent properties hassle-free. Start with a no-pressure buyer consultation and a clear plan for your budget and neighborhoods.