Buying a home for the first time can be thrilling yet challenging. Key tips for first-time buyers include ensuring financial readiness, setting and adhering to a budget, and aiming for a 20% down payment. It's crucial to pay off debt and save for closing costs, which typically range from 3-4% of the home's price. When house hunting, prioritize needs over wants, research neighborhoods, and be patient. Finally, always get a home inspection and stick to your budget to avoid financial strain. Enjoy the journey to homeownership!