1. Don’t Skip Mortgage Preapproval
Before you start searching for homes, get preapproved for a mortgage. This helps you understand your budget and makes your offers more appealing to sellers.

2. Don’t Ignore Your Credit Score
Your credit score affects your mortgage interest rate. Avoid making major credit changes (like opening new accounts or maxing out credit cards) before buying a home.

3. Don’t Skip Home Inspections
Even if a home looks great, always get a professional inspection. Skipping this step could lead to costly surprises down the line.

4. Don’t Make Big Purchases
While in the process of buying a home, avoid making large purchases or taking on new debts. Lenders might reassess  your financial stability and impact your mortgage approval.

5. Don’t Neglect Location
Consider the location’s proximity to work, schools, amenities, and safety. A house in a great location retains its value better over time.

6. Don’t Disregard Additional Costs
Beyond the purchase price, there are closing costs, property taxes, homeowners association fees, and potential maintenance costs. Factor these into your budget.

7. Don’t Focus Solely on Aesthetics
Aesthetic features can be changed, but structural issues or undesirable aspects of the property may be harder or more expensive to address.

8. Don’t Rely on Verbal Agreements
Get everything in writing, especially any agreements or negotiations with the seller. Verbal promises may not hold up legally.

9. Don’t Rush the Process
Take your time to research, view properties, and make decisions. Rushing could lead to regrets or missing out on a better option.

10. Don’t Disregard Resale Value
Even if you don’t plan to sell soon, consider how the home’s features and location might affect its future resale value.

Ready to get started?¬† We’re here to help!

Tim Erickson
P: (652) 451-2273
E: tim.erickson@goluminate.com
W: www.TimEricksonMortgage.com

Mark Henderson
P: (651) 398-3477
E: mark.henderson@goluminate.com
W: www.MarkHendersonMortgage.com