The 5 Biggest Myths For New Home Buyers

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Buying your first home can be a very exciting experience. Maybe you are tired of the apartment life, perhaps you are looking for a place to start a family or maybe you are relocating for a job. Whatever the reason, there are some very common myths that many first-time home buyers are exposed to.

Sometimes these myths are shared by well-meaning family or friends. In other cases, they may be carried on by reality shows about home buying or they might be found in articles online. The truth is, these kinds of myths and misconceptions can be very misleading and it's best to avoid them.

Here are five of the biggest and most common myths that new home buyers encounter when they are looking to purchase their first house.

1. Your First Home Will Be Your Home For Life

This is one of the most common myths that new home buyers encounter. While this myth may have had some truth to it many years ago, the real estate market has changed a great deal in recent years. This misconception is usually shared with good intentions by people who want new home buyers to find the best deal possible.

The truth is, the first home you buy will probably not be the last home you buy. While it's still important to find a great deal, keep in mind that you may need to move to a new location if you change careers, if you have a child or if you need to relocate for personal reasons. It's perfectly fine to look for a “starter home” while still keeping an eye on the future.

2. Buy More Home Than You Can Afford

Similar to the first myth, this common misconception is based on the idea that you will stay in your first home for a very long time. You may be tempted to purchase a large home with extra rooms, especially if you plan to start a family.

In reality, buying a property that is too large and too expensive is not a good strategy. Instead, be honest with your College Station realtor about your budget and your needs to find a home that you can afford so that you don't get in over your head.

3. You Don't Need A Real Estate Agent

Many first-time home buyers are working with a limited budget. They may be tempted to try to purchase a home without a real estate agent to save money. Unfortunately, searching for a home without a real estate agent might end up costing you in the long run.

Your realtor in College Station, TX can help you find a house that meets all of your needs without breaking your budget. Hiring a great real estate agent costs money but think of this cost as an investment in your future.

4. Buy A Fixer-Upper To Save Money

Buying a house that needs renovations or that will require a lot of repairs might get you a lower price upfront but remember that you'll be responsible for these repairs in the future. Any money that you save initially will likely be used up when you pay for contractors, home inspectors or materials to make these costly repairs and renovations.

5. The First Deal You Find Is The Best Deal

It's natural to get excited when you are looking for your first home and you discover a great deal. However, don't be too quick to jump at the first deal that comes along. In many cases, a better deal is waiting just around the corner. Remember, patience is key when you are shopping for your first home so be prepared to consider many different properties before you make your decision.

By avoiding these common home buying myths and by consulting with your College Station realtor, you'll be able to find a great deal on your first home purchase.