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Buying a home is a major financial commitment, so you naturally want to get it right the first time. While there’s plenty of advice to be found on how to go about the home buying process, there’s also a great deal of misinformation in circulation. It’s best to get your information directly from a reputable source like Amber Lube, Keller Williams Realty Concord/Kannapolis. This real estate team has helped many of their North Carolina clients separate fact from fiction so they can make the best investment decisions possible. Below, they dispel some of the most common home buying misconceptions. 

5 Myths Frequently Associated With Buying a Home 

1. House Hunting Is the First Step in the Home Buying Process

Before diving into your home search, you must get your financing in order. This involves establishing a budget and getting pre-approved for a loan. Taking both of these steps first will help you determine how much you can afford and what price range you should be looking in.  

2. Buying a Home Requires a 20% Down Payment 

Although the ideal amount to put down when buying a home is generally 20%, it is not always required to put down that much. There are many lenders that offer mortgages with a lower down payment, and you can also look into government programs that offer down payment assistance. 

3. There’s No Need to Work With a Real Estate Agent 

buying a homeHaving an experienced real estate agent to guide you through each step of the home buying process is invaluable. They will help to ensure all your paperwork is error-free and the terms of the sale are negotiated in your best interests. 

4. Making a Lowball Offer Sets the Stage for Negotiations 

Even though you may have more room to negotiate in a buyer’s market, you don’t want to run the risk of making an offer that’s too low. Instead of setting the stage for negotiations, this is likely to make you miss out on the property. Sellers may be offended and unwilling to engage in further discussion with you, or another buyer may come through with a better offer. 

5. Home Inspections Are an Unnecessary Expense  

Skipping the home inspection is one of the worst mistakes a homebuyer can make. Having a property thoroughly inspected before you commit to the purchase will reduce your risk of getting stuck with a home that has hidden problems. 

Believing these myths during the process of buying a home can end up costing you, but the professionals at Amber Lube, Keller Williams Realty Concord/Kannapolis are available to set the record straight and make sure you have a clear understanding of the process. Contact Amber Lube by calling (704) 577-5966 or reach out to Leaurel Lube at (704) 467-0685. You can also visit their website to browse current real estate listings. 

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