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Buying Your First Home in New Hampshire: What No One Explains Clearly
- Hunter Letendre
- 2 hours ago
- 4 min read
Buying Your First Home in New Hampshire: The Truth
In February of 2025, Realtor.com named Manchester, New Hampshire, the No.1 hottest housing market in the country, reclaiming its title from the COVID era. Whether you are a New Hampshire native or relocating, that title is likely less than comforting if you're ready to purchase your new home.
Good news, I'm here to tell you what no one else will get quite right about buying your first home in New Hampshire in 2026 and beyond.
The market isn’t “competitive.” It’s conditional.
You’ll hear that New Hampshire is competitive. True, generally, but incomplete. While the ultra-competitive sellers market of the COVID era is long gone (phew!), large pockets of New Hampshire do still maintain heavy appeal and limited inventory. Competition today is conditional. It shows up when a property checks the right boxes. When it does, buyers pile in. When it doesn’t, the market is often surprisingly quiet (see: a good opportunity to score a great deal).
But what does conditional mean?
What I'm seeing in the market is that competition for a property depends heavily on a few factors:
Correct pricing: Homes priced in line with current buyer psychology move quickly. Homes priced for “what the seller hopes” sit.
Good condition, potential, appeal: While you may be willing to overlook cosmetic flaws, few will (or should) overlook uncertainty. Homes that feel predictable outperform ones that feel risky.
Strong marketing: Professional photos, clean presentation, and clear positioning matter more now than they did in the frenzy years.
Uniqueness: A layout, location, lot, or feature that’s hard to replicate can create demand even in an otherwise calm market.
This is why you’ll see one house spark multiple offers while another, a few streets away, struggles to get showings. Understanding which homes trigger competition, and why, is one of the biggest advantages a first-time buyer can have in New Hampshire.
Your budget is not the same as your comfort zone.
Lenders approve based on ratios. You, the new homeowner, have to live with payments.
Things most people don’t model:
Heating costs (especially oil vs propane vs heat pumps)
Property taxes that will be adjusted after purchase (it may not be immediately, but if you plan to own the home for at least a few years, you can be certain)
Maintenance on older New England homes (they’re charming, not cheap)
New Hampshire weather is notoriously rough, and even a new construction or newly renovated home will have maintenance costs quickly. You need to be prepared for this when going into the purchase. A good minimum rule of thumb to start: set aside 1% of the home's value as an emergency repair fund.
Good deals still exist—but only if you define “deal” correctly
Plenty of first-time buyers do get good deals on their homes. It just doesn’t usually look like stealing a house for 20% under asking.
At the end of the day, a house is only worth what someone is willing to pay for it. And you should never pay more than you are absolutely comfortable with.
Where first-time buyers get tripped up is confusing market pressure with personal obligation.
A good deal might mean:
Paying market value for a home that won’t require major repairs
Buying something that needs cosmetic work in exchange for building in instant equity
Winning a house because your terms made sense, not because you stretched your budget
Buying the best-priced but "ugly" home in a super desirable town or neighborhood
Overpaying rarely happens in a single dramatic decision. It usually happens in small justifications layered on top of one another. The smartest buyers I work with decide their comfort zone before they write an offer, and they stick to it. That discipline is often what puts them in a stronger position, not a weaker one.
“Starter homes” don’t look like they used to, and they shouldn't!
The classic starter home is rarer here than people expect.
In many NH towns, first-time buyers are actually choosing:
Condos or townhomes
Slightly rural properties with land but fewer upgrades
Homes that need cosmetic, not structural, work
In an overall high-priced and likely to remain somewhat unpredictable housing market, making one of the above purchases might be the best decision you make.
The key is approaching your first home with an appreciation and future-value mindset. Even if you think this is your “forever home,” life has a way of changing plans.
A strong first purchase gives you options. It builds equity. It preserves resale appeal.
What are some of the criteria you may want to consider?
Cosmetic work needed: This can be a great way to immediately add value. If you purchase a perfect home, you will be depending solely on the housing market at large to increase its value.
Choose towns with a good tax record: While NH is known for high property taxes, they actually vary widely between towns. Position yourself in a town with a clean record of minimal hikes, and you will help set yourself up for an easier resale when the time comes.
Aim for a desirable school district: Even if you don't have kids, the next owner of your house may be willing to pay top $ to be in that district.
Your first home doesn’t need to be perfect. It needs to be strategic.
If you’re thinking about buying your first home and want help pressure-testing the numbers, the market, and your options, let’s talk before you fall in love with a listing.
Hunter Letendre, REALTOR®
Berkshire Hathaway HomeServices Verani Realty
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