Busting 4 More Home Buying Myths, for SWFL Real Estate and Beyond

In my previous blog, we dispelled four home buying myths that are fairly common. From timing the market to “bigger is always better,” these fictions can be mostly harmless, but occasionally, they can really get you into trouble. And when you’re making one of the biggest financial decisions of your life, you want to ensure you have all the best information.

Therefore, this week, we’re taking on four more myths about buying a home. Moreover, it doesn’t matter if you’re buying SWFL real estate or real estate just about anywhere else in the country. This way, you’ll be able to make the right choice for you and your family.

All you need is your down payment

While it’s true that, in many cases you can get into a new home without large sums of money I have an extra tip. Sure, your down payment is a big part of the home buying process. But as we’ve seen in the past, having a separate home fund can also help. This is because, during your first year, you might want to add a fence to your home or maybe upgrade a room.

You don’t need to do a home inspection

I can’t stress enough how important it is to get a home inspection. Occasionally, I’ll hear about a buyer who opted out of an inspection, and the story usually doesn’t end well. And if you’re getting a loan from a bank, chances are you’ll need to get an inspection anyway. Home inspections give you vital insight into the property you’re purchasing, whether it’s SWFL real estate or real estate anywhere.

You have to use your bank for your loan

Another common myth is that you have to go with your existing bank for your mortgage. But in reality, you can mortgage shop, and I even recommend it! This way, you can get the best offer for your financial situation. Although a percent or two doesn’t sound like much, over the life of a loan it can be huge.

You have to pay an arm and a leg

Finally, another myth that’s very common today regards cost. When you look at markets like New York City or San Francisco, the price can leave you with feelings of sticker shock. Yet, there’s also real estate throughout the country that’s affordable, near amenities, and beautiful. In fact, Southwest Florida has numerous properties that are gaining value, even as they’re priced right for many couples, families and snowbirds!

Do you want an affordable home right in paradise? A home in Southwest Florida might be perfect for you. 

Terry Records