Don't make these mistakes in your home purchase! Stay off this list It could cost you BIG time!

Purchasing a home is likely the single biggest purchase you will ever make in your life. There are many things to think about when making this purchase - from determining what type of home is right for you, to getting pre-approved for a mortgage, to finding the right real estate agent.

Unfortunately, many people make common mistakes that can end up costing them dearly in terms of time, money and frustration. In this blog post, we'll highlight some of the most common home-buying mistakes and offer tips on how to avoid them. Read on to learn more!

1. Don't purchase a new car. This may seem like an obvious one, but many people don't realize that buying a new car can impact their ability to qualify for a home loan. If you're thinking of buying a new car, wait until after you've closed on your home loan.

2. Do not get different loans. Once you've been approved for a home loan, resist the temptation to shop around for other loans. Getting multiple loans can make it look like you're trying to borrow more money than you can afford, and that can make lenders nervous.

3. Don't get laid off or switch jobs, ideally. This is another one that may seem obvious, but it's worth repeating. If you lose your job or switch jobs, it could impact your ability to make your mortgage payments. Lenders like stability, so if you can avoid making any major changes in your employment situation, it will work in your favor.

4. If you get gift payments going in and out, it is important to notify your lenders. Many people don't realize that gifts are considered income when it comes to qualifying for a home loan. If you receive gifts from family or friends that you plan to use for your down payment or closing costs, be sure to let your lender know.

5. Do not get credit card debt. This is one of the most important things to avoid if you want to stay on your lender's good side. Credit card debt can make it look like you're spending more money than you can afford, and that can make lenders hesitant to approve your loan. If you have credit card debt, try to pay it off as quickly as possible before you start shopping for a home loan.

So, before you start your home-buying journey, be sure to read up on the most common mistakes people make and how to avoid them. And if you want expert advice along the way, don't hesitate to book a FREE consultation with me. I'll help steer you in the right direction and make sure you don't end up making any costly mistakes. Thanks for reading!

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Book a one-on-one real estate consultation with Melina Rissone. Learn more.

Having sold properties for more than 17 years and earning various prestigious awards throughout the course of her career, Melina Rissone has more than earned her reputation as one of San Diego's most skilled and trustworthy real estate brokers. Her following of loyal clients is a testament to the level of dedication she puts forth in every transaction she oversees.

Hardworking, attentive to detail, and a strong negotiator when it comes to the financial aspect of buying or selling a home, Melina gives clients a competitive edge when it comes to accomplishing their goals in the best and most lucrative manner.

Passionate about real estate and its possibilities, Melina supports all things "real estate" and, in addition, specializes and is certified in the following:
* Coldwell Banker Global Luxury and Institute of Luxury Home Marketing certified.

*Cartus Network Inventory Specialist and Cartus Network Marketing Specialist since 2015. This means more accurate pricing, shorter marketing times, and higher adjusted sale rates when working with us.

*RCS-D Designation, a Real Estate Collaboration Specialist for Divorce.

*SRES Certification through NAR is a Seniors Real Estate Specialist certification.

Whether clients aim to purchase the home of their dreams, sell a property, or make an investment for their future, Melina's market expertise, proven foresight, and meticulous planning strategy ensure a successful endeavor each and every time. Melina is bilingual in English and German.
Melina has been recognized as the Top 4% of all real estate brokers in San Diego County in 2021 and the Top 3% of Coldwell Banker International. She has been awarded the Coldwell Banker Presidents Elite Award.