5 Myths About Buying a Home
Buying a home can seem daunting, especially when there is an overload of advice out there on what to do and where to start. Ready to buy a home but feeling nervous about which steps to take? Don’t worry! Mark Spain Real Estate debunks the 5 most common myths when it comes to buying a home to make sure that you have the best experience possible.
Myth #1 of Buying a Home: Don’t Buy in a Seller’s Market
In real estate, there are buyer’s markets and seller’s markets. While one market may provide a few more advantages to either the buyer or the seller, do not let hold yourself back from buying the home of your dreams because of a seller’s market.
A seller’s market occurs when there are more buyers than homes for sale, resulting in available homes being in high demand and oftentimes leading to competitive bidding wars. Of course, this is not ideal, however, it is always important to keep in mind the potential advantages the market is offering. Factors such as low mortgage rates and a high-quality housing inventory are reasons why you should not let a seller’s market hold you back!
Myth #2: The First Step is to Go House Hunting
It may seem like the logical first step to buying a home is to begin the house hunting process. However, you’ll want to avoid getting your heart set on something that is not financially realistic. The most important first step, is to check your credit score and get pre-approved for a loan. This will establish a budget before you begin your search, so you can look at homes in the price range that works for you.
Myth #3: All Lenders are the Same
Each lender has different, rates, fees, and loan programs. However, it can be difficult to find a lender who is dedicated to their clients. Because we strive to deliver an unparalleled client experience, it is important to us that we partner with a lender that shares the same client-focused value that we do.
We have been honored to partner with The Darrell Edquist Team of Shelter Home Mortgage for over 7 years! With the help of their local and highly experienced team members, Shelter Home Mortgage is able to ensure accurate appraisals. Additionally, they offer a wide variety of loan programs to benefit clients that larger mortgage companies may not offer. If you have been looking for an experienced, local, and client-focused lender, we recommend Shelter Home Mortgage. They have remained the top local lender for over 30 years!
Myth #4: There’s No Need for a Home Inspection
The idea of skipping a home inspection to save money may seem appealing, but it’s a crucial step! There could be potential problems with the home that aren’t visible to you. If you purchase a home as-is, you run the risk of taking on all of the potentially unforeseen problems that come with it, costing valuable time and money. Additionally, if your home inspection discovers problems within the home, you can utilize those in your negotiations.
Myth #5: You Don’t Need to Use an Agent
A knowledgeable agent will add immense value to your home-searching process! Mark Spain Real Estate agents are the most knowledgeable and experienced in the country and will help you find your perfect home for the best price. We are equipped with all the tools necessary to navigate the market in its current state, win in competitive bidding wars, and successfully reach the closing table with minimal to no stress!
Buying a home is one of the most important financial decisions you will make, so it is important to ensure you have the knowledge available to smartly start the process. Ready to take the leap and buy a home? Let us help you! Connect with us and close on your dream home!