Buying a first home is simultaneously exciting, stressful and confusing. Once you have scrutinized open-house listings, scraped together the dough and performed the required inspections, there is still the down-and-dirty business of transferring the home from seller to buyer.
Even the most seemingly mundane details of buying a new home have consequences. That includes the day of the month you choose for closing.
Title agents and mortgage brokers often steer homebuyers toward the earlier days of the month. But cash-strapped first-time homebuyers might find that a closing on the first day of the month is a bad move.
Click ahead to find out why.
This article, Why you should never buy a home on the first of the month, was originally published on GOBankingRates.com.
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