The time has come to finally take the leap and purchase your new home. You went through the ebbs and flows of finding the neighborhood you want to reside in, the type of community you want to be a part of, and the style of home you want to live in. You’ve jumped through all the hoops, and you’ve played the waiting game. Now, it’s time to finally close on your brand-new home!
There’s are tons of things you can do to prepare yourself for this next step. But, what about the things you should avoid doing? You don’t want to ruin your chances of closing and you don’t want to incur more time, labor, and labor. Thankfully, BSR Realty Group knows how you can set yourself up for success during the closing process. Here are some things NOT to do before closing on a new home:
1. Don’t Incur Any More Debt
Hold off on purchasing that new car. Trust us, you don’t need that new travel card from Delta. Avoid incurring any more debt at this time. This will affect your debt-to-earnings ratio and could threaten how you “appear” to your lender, which could make them question whether you can meet your closing and mortgage payments.
2. Don’t Quit Your Job
We’re aware of the Great Resignation of 2021, however, now is not the time to look for another job opportunity. This will cause even more loops for your lender to jump through to validate your employment. Keep things simple and stay with your current job (for now) and then you can choose to jump ship. You can grin and bear that job for a little bit longer!
3. Don’t Go on A Shopping Spree
It can be tempting to hit the mall and start buying things left and right for your new home. Avoid that celebratory shopping spree just yet and wait until you’re officially done closing on your home. If you rack up your credit card or even just put items on layaway it could affect your closing and then you really won’t have a space for all that new stuff. Hold off for now, then celebrate and go shopping (responsibly, of course!)
4. Don’t Freak Out
Stress is the last thing you need right now (on top of everything else!) Take a chill pill, relax, and find activities that bring you peace. Whether that’s a yoga class, a meditation routine, or simply deep breathing exercises, just know that everything is going to work out and you are going to be just fine!
Many people learn the hard way when it comes to buying a home. Avoid making mistakes and get your new home without any bumps in the road with the help of BSR Realty Group. We’re here to help your home buying process be smooth sailing! Ready to find the home of your dreams? Contact us today!