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Home Buying Myths

Buying a home can seem like a huge undertaking. You don't need to be a first tome home buyer to find the process overwhelming. There is so much information available, how can you tell what's true and what's a myth? Understanding the difference can help you make the nest decision for you and your family's goals.


Top Home Buying Myths and the Truth:


--The First Step is Finding the Right House: Before you head out shopping, speak with a lender to understand your financial options and how much house you can afford.


--You Can't Buy a Home Without Perfect Credit: The truth is there are many loans available which still offer good interest rates for those without that perfect score.


--You Need 20% Down Payment: First time home buyers can use FHA financing for as low as 3.5% down. There are other programs too, such as VA and some conventional loans that offer less than 20% down payment options also.


--You Don't Need an Agent: An agent not only knows the market and can help you with value, but also customary charges, negotiations and solutions to common hiccups.


--Schools Don't Matter if You Don't Have Kids: The neighborhood is always an important factor in home valuation, regardless of whether you, yourself,

have children.


--New Homes Don't Need a Home Inspection: Every home should have an inspection performed by a licensed inspector to check for existing and potential problems.


Buying a home is one of the most important financial decisions you're likely to make in your lifetime. Take the time you need to understand the process and learn from the professionals; don't assume that everything you read on the internet is true!


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