The Truth About Three Myths That First-Time Homebuyers Should Know

When my youngest child moved out, I was left living in a large home by myself. Weekend visits from the grandchildren only filled the space part of the time. The home became more of a burden as each day passed. It was not until I was working with my real estate agent to sell my home and find a smaller home did I realize that there were so many others in the same position. I created this blog to help other empty nesters explore their options for downsizing and to provide guidance on finding a new home that fits in more with their lifestyle.

The Truth About Three Myths That First-Time Homebuyers Should Know

The Truth About Three Myths That First-Time Homebuyers Should Know

20 December 2016
 Categories:
Real Estate, Blog


When you are buying a house, it is important to be aware of the fact that there may be many misconceptions that you believe about this process. By correcting these notions, you will find that you are better prepared to go through the process of making one of the largest purchases of your life.

Myth: You Can Substantially Reduce The Cost Of A House By Acting As Your Own Agent

There is an idea that the services of a real estate agent will substantially drive up the price of the house. This can result in some people trying to eliminate this expense by foregoing the services of an agent. Yet, many sellers are working with agents of their own, and the selling contract will usually split the commission between the buyer's and seller's agents. As a result, if you do not have your own agent, you may simply be increasing the commission of the seller's agent. Considering that the costs of these services are usually factored into the price of the home, you might as well take advantage of the services of a real estate agent.

Myth: It Is Risky To Hire A Real Estate Agent Because Vetting These Professionals Is Almost Impossible

Some people assume that there is no way to quality check an agent before signing with them. However, there are some simple steps that you can take to make sure that you hire a real estate agent that meets your needs. One of the best ways is to check local review websites as this can give you a reasonable understanding of what to expect. For agents that do not have a prominent presence on the internet, you should weigh peer awards heavily as this is a sign of respect from their industry that they are a studious professional.

Myth: The Homebuying Process Should Always Start With Looking At Potential Properties

Looking at potential properties may seem like a reasonable way to start the homebuying process. However, this is actually the third step in the process. First, you should obtain preapproval from a lender so that you can narrow your search to properties that you can definitely afford. The second step in this process should be to hire a real estate agent. It can be difficult to know all of the available properties without consulting with these professionals. Luckily, a real estate agent has access to a listing service that is maintained and used by all of the licensed local real estate agents.

About Me
Home Buying Tips for Empty Nesters

When my youngest child moved out, I was left living in a large home by myself. Weekend visits from the grandchildren only filled the space part of the time. The home became more of a burden as each day passed. It was not until I was working with my real estate agent to sell my home and find a smaller home did I realize that there were so many others in the same position. I created this blog to help other empty nesters explore their options for downsizing and to provide guidance on finding a new home that fits in more with their lifestyle.

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