Housing Myths - In No Particular Order

Debunking home-buying myths: Schools matter, inspections save money, and using an agent gets better deals. Learn the truth before buying!
POSTED ON:
June 23, 2024
UPDATED ON:
June 23, 2024
Category:
Resources

Schools don’t matter if you don’t have kids

We get it: You love the house, it’s in your price range, and you want to move fast. But there’s more to it than that.

The neighborhood you choose matters—both now and later when you might consider selling. Even if you don’t have children, good schools are a sign of a good neighborhood. Also, check out the area’s walkability, and any other features that would make the area a good fit for your lifestyle—now and later.

You don’t need a home inspection

You might be tempted to believe that, especially if your housing market is hot and you’re worried your dream home could be sold in a split second to someone else who waives the home inspection.

But beware: Sellers are banking on your skipping this crucial step. It means you’ll get the home as is, including any and all problems that come with it. And sometimes those problems aren’t exactly visible.

“Just spend the money for a really thorough inspection, because in the long run, it can save you a lot of money and time,”. And I have never, not gotten more than the inspection fee paid for in repairs from the seller.

The first step is to look for a house

Perhaps you just want to get a feel for the neighborhood. You know, have something in mind before you sit down with a Realtor®. I mean, you’re just looking, right?

Stop right there. Even if you think you’re just browsing, you run the risk of getting your heart set on something, only to have it broken.

Are you qualified to finance that much home?

Be prepared prior to looking – Sincerely! Get Pre-Approved, not just Pre-Qualified.

Buyers get a better deal if they don’t use an agent

Agent commission for both the buying and the selling agent WAS previously paid by the sellers. Now, buyers will be obligated to pay their agent, but the new trend is for the seller to credit towards the buyers' closing costs, which can offset the agent's expense. This means that as a buyer, your agent’s services are free or drastically reduced. That’s one of the reasons why 88% of buyers choose to use a REALTOR®.

The Buyer's agent is your advocate, negotiating and working only for you!

Finding the home / Contracts etc.

Selling your home FSBO (for sale by owner) will save you money

Price the home too high / price the home too low, will either extend your sales timeframe or leave money on the table.

In 2020, homes sold with the help of an agent went for $295,000 on average, whereas FSBO homes sold for an average of $217,900.

Not to mention:

Negotiating the repairs, escrow fees, and who to use for Title and escrow, etc.

Realtors sell homes for a living, you wouldn’t do your own dental work, would you?

Schools don’t matter if you don’t have kids

We get it: You love the house, it’s in your price range, and you want to move fast. But there’s more to it than that.

The neighborhood you choose matters—both now and later when you might consider selling. Even if you don’t have children, good schools are a sign of a good neighborhood. Also, check out the area’s walkability, and any other features that would make the area a good fit for your lifestyle—now and later.

You don’t need a home inspection

You might be tempted to believe that, especially if your housing market is hot and you’re worried your dream home could be sold in a split second to someone else who waives the home inspection.

But beware: Sellers are banking on your skipping this crucial step. It means you’ll get the home as is, including any and all problems that come with it. And sometimes those problems aren’t exactly visible.

“Just spend the money for a really thorough inspection, because in the long run, it can save you a lot of money and time,”. And I have never, not gotten more than the inspection fee paid for in repairs from the seller.

The first step is to look for a house

Perhaps you just want to get a feel for the neighborhood. You know, have something in mind before you sit down with a Realtor®. I mean, you’re just looking, right?

Stop right there. Even if you think you’re just browsing, you run the risk of getting your heart set on something, only to have it broken.

Are you qualified to finance that much home?

Be prepared prior to looking – Sincerely! Get Pre-Approved, not just Pre-Qualified.

Buyers get a better deal if they don’t use an agent

Agent commission for both the buying and the selling agent WAS previously paid by the sellers. Now, buyers will be obligated to pay their agent, but the new trend is for the seller to credit towards the buyers' closing costs, which can offset the agent's expense. This means that as a buyer, your agent’s services are free or drastically reduced. That’s one of the reasons why 88% of buyers choose to use a REALTOR®.

The Buyer's agent is your advocate, negotiating and working only for you!

Finding the home / Contracts etc.

Selling your home FSBO (for sale by owner) will save you money

Price the home too high / price the home too low, will either extend your sales timeframe or leave money on the table.

In 2020, homes sold with the help of an agent went for $295,000 on average, whereas FSBO homes sold for an average of $217,900.

Not to mention:

Negotiating the repairs, escrow fees, and who to use for Title and escrow, etc.

Realtors sell homes for a living, you wouldn’t do your own dental work, would you?

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