Real Estate Mythbusters
Three common real estate myths you shouldn’t buy into, and why.
In today’s world, you shouldn't believe everything you hear. That’s why we’re debunking three common real estate myths:
Myth No. 1: You need 20% down payment to buy a home. We hear this all the time, but the truth is that your required down payment changes depending on your financial situation. If you’re a first-time buyer, you can qualify for a conventional loan with as little as 3% down. Veterans using a VA loan can even put 0% down. That being said, there are benefits to putting more money down.
"Not all agents are made equal."
Myth No. 2: All real estate agents are basically the same. It’s true that some agents don’t go out of their way to differentiate themselves, but you only have to work with one great agent to know how much of a difference it makes. The average agent in Washington sells around 10 homes per year. Meanwhile, some agents on our team sell over 40.
Myth No. 3: It’s a bad time to sell a home. There will always be people who tell you it’s a bad time to sell, but the truth is that real estate always appreciates over time. That means the longer you wait, the more your purchase will be worth. On top of that, you’ll accrue equity faster the sooner you make a move. Therefore, there’s always a reason to make a move.
If you have questions about these topics or anything else, please call or email us. We are always willing to help!