What Not to Do During the Homebuying Process

Avoid These Common Mistakes to Keep Your Purchase on Track

Buying a home is exciting — but it’s also a major financial move that comes with a lot of moving parts. And while there’s plenty of advice on what you should do, knowing what not to do is just as important.

Whether you’re a first-time buyer or a seasoned homeowner, here are the biggest mistakes to avoid once you start the homebuying process:

1. Don’t Make Big Financial Changes

Lenders will be closely watching your financial profile from pre-approval all the way to closing. During this time, don’t:

• Open new credit cards

• Take out a car loan

• Co-sign for someone else’s loan

• Quit your job or change income sources

• Make large cash deposits without documentation

These actions can change your debt-to-income ratio and may cause your loan approval to be delayed or even denied.

2. Don’t Skip the Pre-Approval Step

Pre-approval gives you a realistic picture of what you can afford — and shows sellers that you’re a serious, qualified buyer.

Skipping this step can lead to:

• Wasted time touring homes outside your budget

• Losing out to buyers who already have pre-approval letters

• Surprises later when your loan doesn’t match the home you want

Always get pre-approved before house hunting.

3. Don’t Lowball Just to See What Happens

It’s tempting to “test the waters” with a low offer, but in a competitive market, it could backfire.

A lowball offer may:

• Offend the seller

• Result in no counteroffer at all

• Lose you a great home to a stronger offer

Your agent can help you understand fair market value and guide your offer strategy.

4. Don’t Waive the Home Inspection Lightly

In a bidding war, you might feel pressure to waive contingencies like the home inspection. Be cautious — inspections can reveal:

• Major structural issues

• Roof or foundation problems

• Hidden water or mold damage

• Outdated electrical or plumbing systems

If you choose to waive it, know the risks — and consider at least doing an inspection for informational purposes.

5. Don’t Forget to Budget for More Than the Down Payment

Many buyers focus only on the down payment, but there are other expenses to prepare for, including:

• Closing costs (typically 2–5% of the home price)

• Moving costs

• Homeowners insurance

• Property taxes

• Repairs and maintenance

Talk to your lender and agent about the true cost of buying so you’re not caught off guard.

6. Don’t Assume You’ll Get Every Home You Like

It’s normal to fall in love with a home — but be prepared for competition or the possibility of losing out.

Staying flexible:

• Keeps the process less stressful

• Helps you make clear, strategic decisions

• Keeps you moving forward toward the right fit

Sometimes a better home is right around the corner.

Final Thoughts

Buying a home is exciting, but it’s also a process that requires discipline and strategy. Avoiding these common pitfalls can help ensure a smoother experience from pre-approval to closing day.