Handle unexpected hitches to your house-hunting plans.
For home-buyers, getting caught up in the moment of house-hunting can upset your plans entirely. When financial blocks creep up on you just as you’ve found your ideal house, you could be left with a ruined deal and a hindering credit score.
Here are some surprising financial snags that may destroy a deal:
- Ignoring overdue fees. Anything that constitutes as an unpaid, overdue payment can impact your credit score. The library book that you’ve been hoarding could mean that your credit is suffering from unnecessary negative marks. Be sure to comb through your credit score to check for any errors.
- Underestimating the actual cost of your monthly mortgage payment. Review your HOA fees, maintenance costs, PMI and other fees to ensure that they are all feasible and accounted for in your monthly budget.
- Not crediting your credit score. Be aware that closing down multiple accounts could actually ding your credit. Research the impact of any change to your credit before taking action.
- Forgetting the cost of a swimming pool. While you may have always pictured your dream home with a pool in the back, be aware that a pool requires added expense such as maintenance, cleaning, covers, and possibly an increased insurance policy and higher utility bills. The last thing you want is to end up falling in love with a home you simple can’t care for.
- Including those add-ons. Make sure you and the seller agree on exactly what will be included, and what the seller will be taking to their new home to avoid any confusion or upset.
While house-hunting and keeping your finances in check can be a challenge, ensure that you have the correct home loan that will lead you to your perfect house! Serving all of Walnut Creek, California, and Texas, contact Andraya Coulter to get started today!