Emotions are often part of the house-hunting process because looking for a house is a serious time investment, and frustration is inevitable. And if you’re house hunting with someone else, you’ll likely have to compromise on the type of house you settle on. Feelings may get hurt. Regardless of the situation, be it doggy- or human-related, if you let your emotions get the best of you, the end result might be a poor financial decision.
Choosing the wrong lender
There are plenty of lenders out there, eager to give you a loan worth hundreds of thousands of dollars. But is the lender reputable? O’Connor recommends asking around to find out if the lender delivers on promises, whether they be the rate or the timeliness of the loan. She cautions that lenders call the shots for a simple reason: “Those who have the gold make the rules.”