Common Real Estate Myths Debunked
Buying or selling a home is one of the biggest financial decisions most people will ever make—so it’s no surprise that the world of real estate is full of myths and misinformation. Whether you're a first-time homebuyer, a seller looking to get top dollar, or an investor trying to make smart choices, it’s important to separate fact from fiction.
Let’s break down some of the most common real estate myths—and what the truth really is.
Myth 1: You Need a 20% Down Payment to Buy a Home
🚫 The Truth: While a 20% down payment can help you avoid private mortgage insurance (PMI), it’s not a requirement. Many loan programs allow for much less.
✅ Reality:
FHA loans require as little as 3.5% down.
Some conventional loans offer options with 3% down.
VA and USDA loans may offer 0% down for qualified buyers.
Waiting to save 20% might delay your homeownership goals unnecessarily.
Myth 2: The Market Will Always Go Up
🚫 The Truth: Real estate generally appreciates over time, but it’s not immune to market cycles or economic downturns.
✅ Reality:
Home values can decline due to local economic changes, overdevelopment, or broader market corrections.
Treat real estate as a long-term investment, and buy based on value—not just the assumption of appreciation.
Myth 3: Spring is the Best Time to Sell
🚫 The Truth: While spring often sees more listings and buyers, it also brings more competition.
✅ Reality:
Depending on your market, summer, fall, or even winter can be great times to sell—especially if inventory is low.
Serious buyers are always looking, and fewer listings in off-seasons can make your property stand out more.
Myth 4: All Real Estate Agents Are the Same
🚫 The Truth: Real estate agents vary widely in experience, negotiation skills, marketing ability, and local expertise.
✅ Reality:
A great agent can mean the difference between a smooth transaction and a stressful one.
Look for agents with strong local knowledge, positive reviews, and a clear marketing strategy.
Myth 5: You Should Price Your Home High to Leave Room for Negotiation
🚫 The Truth: Overpricing can actually scare off buyers and result in your home sitting on the market too long.
✅ Reality:
Homes priced correctly from the start sell faster and often for more money.
A smart pricing strategy creates competition and can even spark bidding wars.
Myth 6: Renting Is Always Cheaper Than Buying
🚫 The Truth: It depends on the market, your financial goals, and how long you plan to stay.
✅ Reality:
In many areas, mortgage payments can be comparable to or lower than rent.
Buying builds equity over time, whereas rent is an expense with no return.
However, buying comes with responsibilities—so make the decision based on your lifestyle and goals, not just monthly cost.
Myth 7: You Don’t Need a Home Inspection for a New Build
🚫 The Truth: Even brand-new homes can have issues—poor construction, missing insulation, faulty wiring, etc.
✅ Reality:
A professional inspection protects you, even with a new build.
It ensures builders meet proper standards and lets you address problems before move-in.
Final Thoughts
The real estate process can be emotional, complex, and full of half-truths. But with the right information and guidance, you can make smarter decisions and avoid costly mistakes. Whether you’re buying, selling, or investing, always base your choices on facts—not myths.
Thinking about buying or selling soon? Let's chat about your market and goals. The Angie Wilkie Team will help you cut through the noise with real advice you can trust.
