When it comes to buying or selling a home, don’t believe the word on the street! The real estate market changes literally every single day — your best friend’s home buying experience could be totally different from your own. Your ReeceNichols agent stays up-to-date on the latest market trends and will help guide you through the process. So don’t let these common objections keep you out of the game!
MYTH #1: “I HAVEN’T SAVED UP ENOUGH FOR THE 20% DOWN PAYMENT, SO I CAN’T BUY A HOUSE.”
The 20% down payment rumor is a myth! Although paying as much as you can upfront will save you money in the long run, it is definitely not a requirement. Many loan programs accept as little as 5% as your down payment, so don’t let that 20% myth bar you from buying a home now. Learn about lending basics here.
MYTH #2: “I’LL BASE MY BUDGET ON THE LISTING PRICE.”
Setting your home-buying budget based on the listing price alone is not your best strategy. First of all, many times the listing price is not set in stone — it can fluctuate based on many factors, like multiple offers, inspections or other contingencies. Plus, you need to consider other closing costs and fees that will factor into your budget, like homeowner’s insurance, property taxes and more. Discover other hidden fees of home buying here.
MYTH #3: “I DON’T NEED AN AGENT TO SELL MY HOME. I’LL GO FSBO.”
Unless you have a buyer you know waving their earnest money in your face, youwill benefit from using an agent to sell your home. According to the National Association of REALTORS® FSBOs typically sold for less than the selling price of other homes. So you’re not saving on commission — you’re actually losing money! When you work with a ReeceNichols agent, they’ll dedicate their resources and expertise to helping you sell your home.
MYTH #4: “I WANT TO LIST, BUT IT’S WINTER, AND THE MARKET IS SLOW IN THE WINTER.”
Not necessarily. There are a lot of advantages to listing during “slower” times. Your home could sell faster and for more money — simply because you’re competing with less listings. Don’t let the winter months deter you from buying, either — less buyers are out there, and you’ll be able to really see how a home stands up against the cold.
Whether you’re entering the market for the very first time or investing in a second home, ReeceNichols agents can dispel your worries and help you find your dream home. Connect with anagent today!