8 Common and Costly Homebuying Myths

Buying a home is a complicated financial transaction, so it’s no surprise that there are quite a few myths that surround homebuying. Unfortunately, these common beliefs can be costly in the long run.

 · With a plethora of information, we have access to in 2019, it can get hectic figuring out what’s true and not true. We are here to clear up the top 10 myths associated with the home buying process. #1: You need a 20% down payment to buy a home. No, this is the most common misconception in the home buying process.

Think again! Some facts about buying a home that seem obvious are actually myths. If you knew the truth, would that change your view of buying a home? Or lead you to consider doing it sooner than you had originally planned? Here are five common myths about homebuying that were disproven by Bank of America’s Homebuyer Insights Report. 1.

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Busted! 8 Common Myths to Inform Home Buyers We’ll help you bust the myths for buyers and open their eyes to the facts about homeownership to streamline the purchasing process. When it comes to purchasing a home, many people have common misconceptions about their mortgage options, up-front costs, home inspections, negotiating needs and more.

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Watch the video of ‘8 Common and Costly Homebuying Myths’ on MoneyTalksNews.com. 4. Your only ongoing cost is the mortgage payment. When calculating homeownership costs, buyers may assume that.

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5 Common Myths About the Home Buying Process-Debunked Like most things in life, everyone has their own opinion about the homebuying process . When you start thinking about making your dream of owning a home a reality, you learn that there is a lot of competing information out there.

 · Story From Michigan Schools & Government Credit Union: 8 myths of modern mortgages every home buyer should know. Getting current about best practices for finding and financing a new home is always.

Five Costly Homebuying Myths. We defined five of the most common real estate myths that can mislead you and your family. Myth 1: you have to seek help of a real estate agent. Buying or selling a house is not an easy thing to do. It requires a lot of time, knowledge and determination.

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