8 Things You Shouldn't Do When Buying a Home

While there are many things you SHOULD do when buying a home at the Lake of the Ozarks (like hiring the best real estate agents at the Lake of the Ozarks!) there are still many things that you shouldn't do. Just because you've been pre-approved doesn't mean that you are on the home stretch and can relax with your credit, bill paying and more. Here are a few things you should NOT do while trying to buy your home.

DON'T Apply for a New Credit Card

If you're buying your home via a mortgage you have to remember that your credit is what your home purchase rests on. Because of this, applying for a new credit card can be devastating to your home purchase. It's important to wait to apply for a new card until after you have the keys and everything is said and done.

DON'T Buy a New Car

Unless you're buying a car that you want to live in, you should wait to buy the car until your home purchase is finalized.

DON'T Furnish the Home Before You Own It

While people may tell you not to count your chickens before they hatch, this can be the case when buying your home. We will do our best to make sure you get the home of your dreams, but there can be many unexpected things come up through the process. Wait to buy that new living room set and big screen TV until after you close on your home.

DON'T Change Jobs

We realize that things happen, and it can't always be avoided, but if you can stay at your current position until after the home is purchased, it's best. Changing jobs can make you look unstable, even if you are being promoted to better pay - so try to wait until everything is finished.

DON'T Get Behind on Payments

From credit cards to vehicle loans, don't get behind on the monthly payments - even if just for the sake of your mortgage. Though we can't recommend getting behind on your payments ever, doing it while trying to buy a home could mean you have to kiss your home goodbye.

DON'T Close Any Credit Accounts

While you may think that you look more responsible for closing accounts and paying things off, that works against your efforts. Every line of credit that you have, if paid on time, can help to boost your credit. When you close those accounts it can cause your credit score to plummet, which is obviously bad for your home buying possibilities

DON'T Spend Your Savings

While having money in the bank can help you look more stable to a loan officer, you also have to remember that you'll want to have money for your down payment as well as closing costs, and even unexpected costs.

DON'T Move Money Without a Paper Trail

The home buying process is a delicate situation, because of this you'll want to be able to verify every big purchase and even transactions to make sure you really have enough money.

Buying Real Estate at the Lake of the Ozarks

Whether you're buying a first home, vacation home, condo, or luxury Lake home - we can help. Our agents are all experienced in not only real estate but the Lake area. You want to be able to count on your agent to help you find the best home for you based off of your lifestyle, income, and more. We can do that. Visit our website to learn more about our buying and selling process, as well as see what homes we have available.

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2011 REALTOR Salesperson of the Year

Missouri Association of Realtors

Gattermeir Davidson Real Estate, LLC

752 Bagnell Dam Blvd., Suite A

Lake Ozark, MO 65049

Office | 573.365.1555

Fax | 573.365.1766