What NOT to Do When Buying Your First Home: The Honest Guide
There’s the advice you’ll find in every “Top 10 Tips” blog, and then there’s what really happens when you’re knee-deep in offers, disclosures, and second-guessing everything from your down payment to your sanity.
Let’s get into the stuff nobody tells you until it’s too late, and how to dodge it all.
Let me share a story we’ll never forget (names and details changed for privacy, but trust me, it’s all true):
Sarah and Matt were excited to buy their first home in Denver. They did everything right, found a home they loved, got pre-approved, and had their offer accepted. Two weeks before closing, they decided to treat themselves to a new car to celebrate. The dealership offered “no payments for 90 days,” so what could go wrong?
A lot, it turns out. That new car loan showed up on their credit report days before closing and pushed their debt-to-income ratio just high enough for the underwriter to deny their mortgage. The deal fell through. Sarah and Matt lost their dream home, their earnest money, and a lot of sleep. We eventually got them into another house months later, but not without some heartbreak and a lesson they now share with every friend: Don’t make big money moves until after you get your keys.
Don’t open new credit cards, finance a car, or suddenly quit your job right before or during the loan process.
Why? Even small changes can derail your approval, tank your credit score, or delay closing.
What to Do Instead:
Check with your lender (that’s us!) before making any big financial moves. We’ve seen it all, from surprise car leases to “I just had to have that furniture set,” and we’ll help you avoid costly surprises.
You’d be amazed how many buyers only check their credit after they’ve already fallen in love with a house.
Deeper Dive: Sometimes, one small error or a late payment you forgot about can make a huge difference in your loan options and rate. It can even block you from qualifying altogether.
Insider Tip: Check your credit at least six months before you plan to buy. Ask for help fixing errors quickly. We’ve helped clients jump their score by 40-plus points in a matter of weeks with the right moves.
Honesty is everything when it comes to your loan application.
Deeper Dive: Lenders will verify your debts, side income, recent job moves, even that Venmo side hustle you didn’t think counted. Surprises mean delays or even a last-minute denial.
Insider Tip: Be up front from the start. We’re not here to judge; we’re here to strategize. Sometimes a quick pivot on how you structure your offer or document your income makes all the difference.
Those quick-and-dirty mortgage calculators online are about as reliable as Denver weather in March.
Deeper Dive: They often leave out property taxes, HOA dues, insurance, and all the sneaky “oh by the way” costs that show up at closing. “Advertised rates” might not be available to anyone without perfect credit, a massive down payment, and zero debt.
Insider Tip: Always get a real scenario run by a real human, ideally us, using local numbers and your actual details. Our side-by-side breakdowns beat any online quote, every time.
You’ve scraped together your 3 percent (or more), but did you budget for earnest money, closing costs, pre-paids, moving expenses, and “my couch doesn’t fit” emergencies?
Deeper Dive: It’s not just about scraping by. Having a little cushion can make you more competitive and less stressed.
Insider Tip: Ask for a full cost breakdown before you write any offers. Sometimes, seller credits or down payment assistance can fill a gap you didn’t know you had.
We see this all the time. Buyers fall in love with the first place that gives them butterflies, or, after losing out on a few, start settling for anything with a roof.
Deeper Dive: Emotional whiplash is real, especially when bidding wars are common. The heartbreak of losing out or discovering a dealbreaker during inspection is tough, but rushing to “just get it over with” leads to regret.
Insider Tip: Have a non-negotiables list and a “dream list.” If you’re feeling pressured to compromise beyond what’s healthy, pause. There’s always another house.
It’s tempting to breeze through disclosures, contracts, or loan docs (“I’ll just sign, my agent or lender says it’s standard”).
Deeper Dive: Sometimes, that “standard” clause can mean thousands out of your pocket, or limits your rights down the road.
Insider Tip: There are no dumb questions, only expensive ones you didn’t ask. If something is confusing or feels off, flag it. We’d rather spend an extra hour now than have you feel blindsided later.
This is a sneaky one. After the joy of “clear to close,” buyers sometimes assume the hard part is over.
Deeper Dive: Not shopping your homeowner’s insurance early can cost you big, and missing a utility transfer can leave you moving in to a cold, dark, WiFi-less house. (Ask us how we know.)
Insider Tip: Get insurance quotes as soon as you’re under contract, and schedule utility transfers for your closing date. We’ve got a checklist if you need one.
Trying to wait for rates to drop or buy at the bottom is a trap that keeps people renting for years longer than planned.
Deeper Dive: The only perfect time to buy is when your life and finances are ready, not when the headlines finally agree. We see more regret from folks who waited than those who started before they felt ready.
Insider Tip: Let’s run the numbers and scenarios together for your situation, not what the national news says.
You deserve a team that listens, educates, and fights for your best interest, not just whoever called you first or offered a slick rate.
Deeper Dive: Not all lenders are created equal. Some will ghost you after pre-approval, or push you into products that don’t fit.
Insider Tip: Interview your lender and agent just like you would for any major relationship. You’re the client. You’re allowed to shop around and ask hard questions.
Google is not a homebuying guide.
Deeper Dive: There’s nothing wrong with learning online, but too many buyers get paralyzed or make costly mistakes trying to do it all solo.
Insider Tip: Teamwork makes the dream work. Reach out early, even if you’re not sure you’re “ready,” so we can get you set up for success, calm your nerves, and celebrate with you at the closing table.
Every one of these “don’ts” is something we’ve seen real buyers trip over. The difference? With the right support, you don’t have to step in it.
Ready for a game plan that keeps you out of trouble and gets you into a home you love?
Schedule a free consult, and we’ll walk you through each step with a roadmap, not just a pep talk.
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