Look deeper than what you see. You love the way a home is decorated, with its antique furniture, the stylish rugs, the fresh-cut flowers and all those cute knick-knacks. You can picture yourself living there. But remember, all these things won’t be there. You’re not purchasing style. Go beyond what you can see, and make sure you’re taking into account things like the condition of the roof, furnace, water heater and other important components, too.
Ask for a home inspection. A home is a big investment. Yet many home buyers neglect to request a professional home inspection. That cost of an inspection is a fraction of what it could cost to deal with foundation issues, replace a faulty furnace, or make any of several costly home repairs. An inspection is an important reality check when buying a home.
Resist buying big-ticket items. Your credit score matters when buying a home. People with lower credit scores often pay higher mortgage rates. It’s a good idea to avoid any big purchases several months before you embark on the home buying process to avoid lowering your credit score. And once you are under contract to purchase a home, you’ll want to refrain from purchasing any big-ticket items such as furniture or electronics. If you purchase large items on credit or deplete the cash in your savings before you close, it could compromise the lending process. Wait until you move in instead.