When it comes to buying or selling a home, misinformation can lead to costly mistakes. As a Texas-based realtor, I often hear the same myths repeated. Let’s clear up three of the biggest misconceptions in real estate.
1. You Must Have a 20% Down Payment
Many buyers believe that unless they have 20% saved, they can’t buy a home. While a larger down payment can reduce monthly payments and eliminate private mortgage insurance (PMI), many loan programs allow much lower down payments. FHA loans start as low as 3.5%, and VA loans offer 0% down for eligible buyers.
2. The Best Time to Buy is Spring
Spring is a busy season in real estate, but that doesn’t mean it’s the best time for everyone. In Texas, fall and winter can be ideal times to buy, with less competition and more motivated sellers. Every market is different, so working with an experienced realtor can help you find the right time to buy.
3. You Don’t Need a Realtor to Buy or Sell
With so much information online, some believe they can handle real estate transactions on their own. However, a realtor provides expertise in pricing, negotiations, contracts, and local market trends—saving you time, stress, and potentially thousands of dollars.
Don’t let these top real estate myths hold you back from making informed decisions. Whether buying or selling, having a trusted professional by your side makes all the difference.
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