18 Real Estate Myths People Still Believe

Buying a property can be a difficult and challenging thing to do, especially because of the aspects and bureaucracy you need to take into consideration.

Not to mention the amount of properties you have to view and the details you have to pay attention to before making a huge investment.

If you’ve been through this process before then you are probably familiar with the popular, but false myths, but in case you aren’t here’s what you should  know:

1. Start viewing homes after you make sure you have your finances all set up so you can know the price range you should start looking for;

2. You need an agent to buy a home, it’s in your best interests, they will obtain a good price for the estate you want, they will give you all of the necessary information about the property and the market and will help you with the paperwork;

3. The house that you’re gonna purchase doesn’t need repairs;

4. You don’t need to put down 20% of the sum and some of the costing costs. I mean, it definitely sounds good, but it’s not mandatory, it’s only a myth;

5. Being preapproved will not hurt your credit;

6. You need an approval letter so that your offer will be accepted;

7. It’s always good to offer the full price you have in mind, otherwise you risk losing the property by offending the owner;

8. Buying an apartment can be way trickier than purchasing a house, mostly because every repair needs to be approved by the whole building, it’s much noisier in a condo building and the space can be much smaller;

9. It doesn’t matter if you don’t have any children to go to school, buying a home in a school district will later assure your investment when you decide to resell it;

10. Buying a property is not necessary a better deal than renting a place;

11. Family homes are not more expensive than the single ones;

12. You don’t need to sell your current home before buying the next one;

13. A home inspection is a very good idea. Inspectors can discover problematic aspects about the property;

14. If you list your home to a lower price you can attract multiple buyers and then they will try to outbid each other;

15. It’s not a bad thing to stage your house, however it’s not a must. You can sell it faster by establishing a competitive price;

16. It doesn’t matter if your house is in bad condition you can still sell it because there will always be people who would want to remodel it and change some things anyways;

17. Open houses are very good idea and don’t listen to people who say otherwise. The actual tour of the house is always more efficient than the virtual one;

18. The highest price isn’t always the offer you should offer, but the one with the highest probability of buying.