What NOT To Do When Buying A House

Buying a house is an exciting and stressful experience. There are many ways to make a mistake which is why it is so important to learn what not to do when buying a house.

You are trying to piece together many moving parts and there are multiple things that can destroy your ability to complete the purchase.

To make the process successful and as stress-free as possible, you need to learn what not to do when buying a house.

What Not To Do When Buying A House

When you are applying for a mortgage to buy a house there are some things you should not do during the process.

Every mortgage underwriter is different so this importance of this list will vary depending on which mortgage company you work with.

When you are not sure about making a financial move during the process you should always reach out to your specific loan officer and ask.

Here are several things you should not do when buying a house:

  • Don’t make any large purchases like a new car or furniture.
  • Avoid inquiries on your credit because they will have to be explained.
  • Don’t make large deposits into your bank account outside of payroll.
  • Do not change jobs.
  • Don’t change or move bank accounts.
  • Don’t co-sign on anyone else’s loans during the process.
  • Do not open any new banking or credit accounts.
  • Don’t pay off any large amounts of debt.

Any of these things can delay you getting a mortgage and some of them can make the difference in you getting a mortgage or not.

Our Home Buying Mistakes

When we bought our first home we made several mistakes.

While we are happy with the outcome years later it is important to acknowledge things we could have done better.

Here are the mistakes we made buying our first home:

  • We did not look at enough houses.
  • Didn’t have a full emergency fund. (We got very, very lucky!)
  • We didn’t shop around for mortgage lenders.
  • Didn’t put down 20% and had to pay PMI for years.

Those are the mistakes we made with our first house and it’s helped us learn what not to do when we buy our next home!

More House Buying Content

Want more house buying content? I share all of our actual numbers to help people see what it can look like when you buy a home.

Check out these posts on our home buying process and along with some helpful mortgage content:

Mortgage Payoff Journey

Curious about how we are paying off our mortgage faster than 30 years?

We also share that info! Paying off our current home and our next 1-2 homes is part of our financial independence plan.

I share about that on our YouTube channel and here too:

Mary is the founder of Pennies Not Perfection where she shares her journey to build wealth through online income. She quit her day job in 2021 after she paid off her debt and doubled her 9-5 salary.

Mary's favorite free financial tool is Personal Capital. She uses their free tools to track net worth and work toward to financial freedom.

Her favorite investment platform is M1 Finance, where she built a custom portfolio for free with no fees. She shares her portfolio growth and savings progress every month on YouTube.