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Did I make a mistake? (First time homebuyer)

I’ve been considering buying property for some time now, and have had my eye on a couple of homes for several weeks. Earlier this week I checked my credit score (soft inquiry) and today, got in touch with a lender to get a letter of pre-approval, which of course involved a hard inquiry. My credit is better than I expected (801), but I know it’ll now drop after the hard inquiry.

Now, however, I’m second guessing whether this is the right time for me to move forward with the process, and am debating holding off for a year, or at least waiting to see how things in the housing market change throughout/after the pandemic. My question now, is whether or not having the hard inquiry done is going to negatively impact me in the long run? Will it look bad if I stop seeking a loan to then return to this a year or two from now? Is it bad that I jumped the gun in getting pre-approved before I was really confident about buying?

Thanks in advance.

submitted by /u/Chance-Comfort8788
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/l7h06g/did_i_make_a_mistake_first_time_homebuyer/
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