These three things can derail or slow down your home purchase.

Usually, I talk about what to do when you are buying or selling, but today I want to talk about what not to do. Buyers should avoid doing all three of these things. Some of them may be obvious, but we can all do with a few gentle reminders.

Buying a home is an invasive process regarding your financials, so you want to avoid making big purchases. You don’t want your spending to be any different. Sure, you have to buy a washer and a fridge, but you should wait on those things until after you close. 

You also don’t want to have any job changes. I know a lot of us are fed up with Zoom calls, but if you want to make any change in your employment, talk with your lender and your agent. Often, you can change, but you might need several months of pay stubs before you can close. There may be an even bigger requirement if you change fields.

“Buying a home can be an invasive process.”

You also don’t want to deposit all sorts of untraced money. I remember my lender calling me up when I was buying a home. He asked about three different deposits I had. The truth was I had sold Blazers tickets to an office mate. The lender wanted to know how they could trace and prove that deposit. When you’re buying a home, lenders want to know about any money coming into your account. 

Don’t let my tips scare you; you can still live like you usually do when you’re buying a house, but you should work with your lender and be very open about your goals. If you have any other questions, please call or email me. I’m here to help.