Buying a house can be one of the most exciting and significant purchases you’ll ever make in your life. However, there are certain things you should avoid doing in the year leading up to your home purchase to ensure that the process goes as smoothly as possible. Here are the top 10 things to NOT do the year before buying a house:

Don’t open new credit accounts or take on new debt: Any significant changes to your credit can impact your ability to qualify for a mortgage, so avoid opening new credit accounts or taking on any new debt.

Don’t make large purchases: Avoid making significant purchases such as a new car, boat, or other big-ticket items, as this can impact your debt-to-income ratio and credit score.

Don’t quit your job or change your employment situation: Lenders prefer to see consistent employment and income over time, so it’s best to avoid any significant changes in your employment situation.

Don’t miss any bill payments: Missing bill payments or making late payments can significantly impact your credit score and make it more challenging to qualify for a mortgage.

Don’t co-sign for anyone else’s loan: Co-signing for someone else’s loan can impact your credit score and debt-to-income ratio, which can impact your ability to qualify for a mortgage.

Don’t close any credit accounts: Closing credit accounts can impact your credit score and make it more challenging to qualify for a mortgage.

Don’t make any large deposits into your bank account: Any significant deposits into your bank account can raise red flags for lenders, so it’s best to avoid any large deposits during the year leading up to your home purchase.

Don’t forget to save for a down payment and closing costs: It’s essential to save for a down payment and closing costs, so make sure to budget accordingly and avoid overspending in other areas.

Don’t skip getting pre-approved for a mortgage: Getting pre-approved for a mortgage can give you a better idea of how much home you can afford and can help you avoid any surprises during the home buying process.

Don’t forget to work with a trusted real estate agent and lender: Working with a trusted real estate agent and lender can help ensure a smooth and successful home buying experience.

The year leading up to your home purchase is a critical time to avoid making any significant financial changes or missteps. By following these tips and working with trusted professionals, you can increase your chances of a successful and stress-free home buying experience. Reach out to us if you have any questions or concerns regarding getting prepped to buy a home. Our Moving Montana Team is happy to offer you the advice and support you need.