The Don’ts

When preparing to buy a new home there is the Do’s and Don’t list as well as the pros and cons list. Here is a list of the things you don’t want to do when preparing to buy a new home. The list may seem simple but many people still do the don’t’s. Help yourself stay ahead and remember the don’t’s so you can do the do’s.

Don’t Forget

Getting caught up in the excitement of home buying can make you forget a lot of things. The most financially important one that comes at the end, don’t forget the closing costs. One of the toughest parts about buying a new home is the financial stress it causes. What will cause more stress is doing all the numbers, working them out, and then forgetting about the closing costs. To help turn this Don’t into a do – put it at the beginning of the list. Be upfront with your Agent and bank about the closing costs so you can prepare. Don’t forget the closing costs.

Don’t Forget

To have your credit checked by a legit resource. You may have a ballpark figure of what your credit is but having actual proof is what you need. Make sure you are using one of the top 3 credit score providers and that you have proof of credit if needed. It never hurts to be over prepared. Make sure you ask your bank which proof they prefer and work on getting that as soon as possible. You need your credit proof to even begin thinking of buying a home, so don’t forget to check your credit.

Don’t Forget

Don’t forget the PMI, private mortgage insurance. This will effect your payments and your calculations cost. It bundles in with don’t forget your expenses. There are a lot of calculations that need to happen in order to figure out what your budget is for new home ownership. This fee will stay in effect until you own 80% of your home. That is a long time from closing so make sure you have your numbers and don’t forget to calculate the PMI for every month.

Don’t Forget

When buying a home you aren’t doing it alone. Make sure you use your resources, like your agent, friends and family. It is not always the best idea to take advice from friends and family over your Agent but don’t forget you don’t need to do this process alone. There is even education classes and other resources so that you can stay on top of this complicated process. Everyone wants to see you succeed, do don’t forget you are not alone.