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We're always talking about what you should do before buying a home. Getting preapproved, finding a great realtor, determining needs and wants and researching neighbourhoods usually top the list when it comes to prepping for a new home purchase.

It's also important to note a few crucial things that you should NOT do before making the largest purchase of your life. Even one of these missteps may affect your preapproval (which is never a guarantee) so avoid doing these five things until after you've closed on your new home!

1. Don't change jobs. Lenders like to see employment stability so the months before you buy a home are not the time to start job hunting.

2. Avoid making large purchases. This is definitely not the time to splurge on that new car, fancy jet ski or even the pricey bedroom set that you've been eyeing. Such major purchases will raise your debt-to-income ratio. Instead, keep building your savings and wait until after you've moved into a home to decide if this purchase is still possible.

3. Don't co-sign a loan. Even if you're absolutely sure that the party you are co-signing for is financially secure, a lender will not look favourably on you co-signing a loan during the mortgage approval process.

4. Don't let those due dates slide by. While paying your bills on time is always a good habit, it is especially crucial when lenders are closely examining your financial history and credit rating.

5. Don't get emotionally attached. When that perfect home comes along, it will be easy to fall in love from the moment you walk through the front door. But this can be dangerous, especially with the current real estate market. Homes are selling for over asking price, so make sure that you are only looking at listings that fall within your budget and mentally prepare yourself for the possibility of being outbid.


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Testimonials

  Marion had completed a number of sales in our community -- and she had worked very hard to have a professional and supportive presence there. When we first contacted Marion, we were a long time away from wanting to/being able to take action. She worked with us throughout this period and provided very helpful market research. along with specific information about prospective properties for us once we were ready to sell. The production of sales material on our home was creative and impressive. She was able to capture its special features, and showcased beautifully the expansiveness of the property. We enjoyed working with Marion. She was patient and supportive and understood that the second half of our initiative (the purchase) was just as important as the first. Thank you, Marion.

Carol Kalbfleisch, Burlington

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