{"id":15082,"date":"2025-11-20T10:14:56","date_gmt":"2025-11-20T17:14:56","guid":{"rendered":"https:\/\/www.richmondamerican.com\/agent-blog\/?p=15082"},"modified":"2025-11-21T10:15:32","modified_gmt":"2025-11-21T17:15:32","slug":"black-friday-dos-and-donts","status":"publish","type":"post","link":"https:\/\/www.richmondamerican.com\/agent-blog\/black-friday-dos-and-donts\/","title":{"rendered":"Holiday Shopping Dos and Don\u2019ts"},"content":{"rendered":"\n
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Just because your clients have been preapproved for a mortgage doesn\u2019t guarantee they\u2019ll stay<\/em> approved until closing. Their mortgage approval could be at risk if they fall into the trap of overspending\u2014a particularly tough challenge during the holiday season. A few swipes of their credit card on Black Friday or Cyber Monday could have a negative impact on their credit score or financial health, in turn impacting their potential for loan approval. There are certain dos and don\u2019ts to holiday shopping, and following them could help your clients stay on track for a successful closing.<\/p>\n\n\n\n

In this article, we\u2019ll walk through a few important things homebuyers should keep in mind during seasonal shopping, as well as explain why they matter. Be sure to share this resource with your clients, either by emailing them this PDF<\/a>\u00a0or sending them a link to our Homeward\u2122 blog article here<\/a>.<\/p>\n\n\n\n

Why Black Friday Spending Can Be a Mortgage Dealbreaker<\/h2>\n\n\n\n

It\u2019s no secret that the weeks around Black Friday and Cyber Monday are packed with irresistible deals. From deep discounts on electronics to flashy \u201cbuy now, pay later\u201d offers, it\u2019s easy for even the most disciplined buyer to get caught up in the excitement.<\/p>\n\n\n\n

Prospective homebuyers face an additional challenge: they may already be thinking about their future home and all the items they want to buy for it. Maybe they\u2019ve spotted a discount on a sectional they love or a pre-holiday deal on a dining table that seems like the perfect fit for their future home. This forward-thinking mindset is often advantageous, but it can also unintentionally push people toward purchases they\u2019d otherwise pause to reconsider.<\/p>\n\n\n\n

The issue comes down to timing. Mortgage approval is based in part on a financial snapshot that\u2019s taken at a specific time. A buyer\u2019s monetary situation will be evaluated during the preapproval process as well as right before final approval, meaning that any major changes to their debt, credit score, or cash reserves within that time can throw off their chances for success (or impact their loan terms and interest rate). Even if clients believe their holiday spending is manageable, lenders may interpret it differently.<\/p>\n\n\n\n

This is where your guidance becomes especially valuable. As their agent, you can help protect your buyers from disappointment and potential delays by educating them on the following dos and don\u2019ts for holiday shopping.<\/p>\n\n\n\n

Holiday Shopping Dos and Don\u2019ts for Homebuyers<\/h2>\n\n\n\n


Don\u2019t: Put a Dent in Your Savings<\/h3>\n\n\n\n

No matter how attractive a deal seems, consider postponing major purchases until after you\u2019ve closed on your home\u2014especially if the cost will add to your overall debt or deplete your savings.<\/p>\n\n\n\n

Why?<\/em> Keeping money in your savings account as a cash reserve can help you look like less of a risk to lenders. It can also help you maintain your history of paying bills on time, which is a major factor in your credit score. Using credit cards instead of cash has its own hazards; increasing your debt-to-income ratio can nudge the needle downward on your score\u2014exactly what you don\u2019t<\/em> need when purchasing a new home!<\/p>\n\n\n\n

Do: Go on the Hunt for Small Appliances<\/h3>\n\n\n\n

While large purchases are a no-no during your mortgage loan process, smaller, more affordable finds are fair game! Black Friday and Cyber Monday are perfect for picking up essential kitchen gadgets like a blender or a toaster\u2014items that will undoubtedly come in handy in your new home.<\/p>\n\n\n\n

However, it\u2019s wise to keep your spending in check. A few well-chosen small appliances can enhance your cooking experience and add to your new kitchen\u2019s aesthetic without straining your budget. Just remember, it\u2019s all about forethought (try to resist those impulse buys!), balance, and ensuring that your purchases align with your financial goals.<\/p>\n\n\n\n

Don\u2019t: Get Pulled into Big Furniture Deals<\/h3>\n\n\n\n

Big furniture discounts often catch the eye of eager shoppers, but be wary. Not only are these purchases a big hit to your bank account or credit card, but they may end up being a poor choice for your future space, especially if you haven\u2019t found your dream home yet.<\/p>\n\n\n\n

Sofas, in particular, are notorious for looking much smaller in the showroom than in your living room. To avoid buyer\u2019s remorse\u2014and a potential interest rate hike\u2014we recommend saving your money and splurging on furniture after you have the keys and can take the appropriate measurements.<\/p>\n\n\n\n

Do: Go on Model Home Tours<\/h3>\n\n\n\n

Black Friday weekend is a great time to scope out communities<\/a> and floor plans<\/a> in the areas where you may want to live. Plus, you won\u2019t have to get up at the crack of dawn to beat the crowds! Touring homes in person provides you the opportunity to experience a floor plan\u2019s layout for yourself, while also exploring the surrounding community.<\/p>\n\n\n\n

Many of our notable neighborhoods across the country have model and quick move-in homes<\/a> that you can tour. Check our website to see Sales Center hours, and whether you\u2019ll need to make an appointment.<\/p>\n\n\n\n

Don\u2019t: Open a New Credit Card<\/h3>\n\n\n\n

Retailers frequently promote card-opening incentives\u2014tempting shoppers with extra discounts or reward points. Plus, it may seem like a good solution to put purchases on a new card so you can take advantage of deals even when you don\u2019t have enough cash on hand. However, as any mortgage consultant can tell you, opening new accounts before or during your mortgage application process is not a good idea. Adding accounts can lower your average account age and introduce hard inquiries on your credit report, which in turn could negatively impact your credit score<\/a>. Not something you want during the loan process!<\/p>\n\n\n\n

Do: Take Some Time to Relax with Friends and Family<\/h3>\n\n\n\n

While it\u2019s easy to get caught up in the excitement of Black Friday and Cyber Monday shopping, remember that Thanksgiving weekend is ultimately about being thankful for what you have and the people in your life. Take a step back from the commercial frenzy to spend quality time with loved ones. Engaging in meaningful conversations and enjoying each other\u2019s company can create cherished memories that outshine any sale.<\/p>\n\n\n\n

If you do decide to venture out to shop, make it a festive outing instead of a stressful one. Share laughs, grab a meal, and celebrate the season together. These moments are invaluable and serve as a reminder of what truly matters.<\/p>\n\n\n\n

Extra Credit: Dos and Don\u2019ts for Agents During the Holiday Season<\/h2>\n\n\n\n

While this guide is designed primarily for your clients, the holiday season also gives real estate agents unique opportunities to strengthen their business and prepare for the upcoming year. Below are a few thoughtful dos and don\u2019ts to help you stay organized and effective.<\/p>\n\n\n\n

Do: Use the Season to Educate<\/h3>\n\n\n\n

The holidays are a great time to send out educational emails, share helpful resources (like this article), or create social content that adds real value to your clients\u2019 (or prospective clients\u2019) homebuying journeys. Not only will your clients appreciate the assistance, but it also may keep you top of mind for referrals heading into the new year.<\/p>\n\n\n\n

Don\u2019t: Assume Clients Already Know the Rules<\/h3>\n\n\n\n

Even savvy buyers can make small financial missteps without realizing the consequences, especially during the holiday season. This time of year, many are juggling travel plans, family obligations, gift-buying, and more, so it\u2019s completely natural for homebuying dos and don\u2019ts to slip their minds. A gentle reminder from you could help prevent last-minute loan issues or delays, as well as protect your reputation as a trusted advisor.<\/p>\n\n\n\n

Do: Stay Available and Proactive<\/h3>\n\n\n\n

Some buyers may begin browsing for homes online during the holidays, even if they don\u2019t plan to move until spring. Keep your contact lists up-to-date, respond promptly to leads, and check in with existing clients, perhaps with a card, a holiday gift<\/a>, or even just a quick phone call to say hello. Take advantage of this quieter time to nurture relationships that may pay off in the new year.<\/p>\n\n\n\n

Don\u2019t: Forget to Keep Up with Our Blog<\/h3>\n\n\n\n

Our Agent HQ\u2122<\/a> blog features an extensive library of articles designed to help you, your business, and your clients. A few notable ones to get you started:<\/p>\n\n\n\n