What NOT To Do When Buying A Home - Hageman Homes - DeLex Realty
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What Not To Do When Buying A Home

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What Not To Do When Buying A Home

Want to get started?

your information is kept strictly private

This information is for when you are under contract. If you want information on how you can buy a home, fill out the form on this page.

 

  1. Don’t Make Any BIG Purchases Like A Boat Or A Car. If you want your next dream home to be boat or a car then by all means go for it but, I doubt the rate of return will be the same
  2. Don’t Go Shopping For Furniture For Your New Home Quite Yet. We know you’re excited about that new couch or bed set but hold off until you have the keys in hand.
  3. Don’t Apply For Any New Credit Cards Or Lines Of Credit. It’s important to know that when you apply for a new credit card that it can have a negative effect on your final mortgage approval, which is exactly what you don’t want.
  4. Don’t Quit Your Job For Another One. Tired of your job? Got a better job offer? See if you can hold off on the job change until you close on your house or else you may lose more than just your old job.
  5. Don’t Close Any Credit Accounts. Have a credit card you don’t really use? Trying to tidy up your wallet and finances?  Feel free to chop it up into pieces, but if you’re trying to consolidate debt to a lower interest rate card, DON’T. If you do close an account you can do more harm than good to your credit.
  6. Tell The Whole Truth And Nothing But The Truth. Sometimes stretching the truth can be fun especially, if it’s about how big that fish was that you caught but when it comes to getting a mortgage…. don’t. The mortgage company will find out if you are still married, owe child support, and/or have any sort of debt. The worst part is they usually find out the truth that you’ve been hiding this whole time a couple days before you would be receiving the key!
  7. Don’t Get Behind On Your Payments. You must keep up to date on all credit cards, car payments and any other debt you have. Remember, your lender will check your credit at the beginning and again at the end so don’t fall behind or you could lose your dream home.
  8. Don’t Go On A Spending Spree. Have you been saving money for that trip to Vegas? You might want to hold off until after your house You’re going to need money for your down payment and any closing cost you might have.

    Now that you’ve educated yourself on most of the do’s and don’ts you can avoid some of the common mistakes that first time home buyers make. If you aren’t sure about something you can always reach out to a Realtor for help so that you can avoid making any of these and other mistakes.


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