5 Home Buying Myths: BUSTED - Northwood Blog Northwood Blog


5 Home Buying Myths: BUSTED

You have decided to buy a new house.  That’s great!  Of course, you want to share the news, but the moment that phrase crosses your lips, everyone that you know and trust becomes a real estate agent with lots of advice.  You can’t blame them though, as they mean well and some of the advice may even be from their own experiences.


But as knowledgeable as they may seem, there are still a lot of myths and misconceptions about buying or selling a home.  The most accurate source of information and expertise?  Your real estate agent.  But in the meantime, here are five common home buying myths BUSTED!


1) Buyers Without Children Can Ignore School District Information



BUSTED: Regardless of having children, planning to have children, or never having children; buyers should ALWAYS consider the quality of the school district when buying a home.  High-quality school districts bring high-quality buyers when you sell your home in the future.  Or at the very least, if life throws you a curveball, you would already be in a great school district.  BUT! Be Careful. You could end up falling victim to the next myth…


2) Buy the Worst House in the Best Neighborhood



BUSTED: Those looking for a low-priced steal in the middle of a high-priced neighborhood fall into this trap, especially in a very hot market.  An endless supply of money, resources, and time will never change the fact it is located on the loudest street or wedged between two businesses.  There’s probably a reason why it is such a bargain, to begin with.  So if you choose to pursue “the deal of a lifetime”, remember your Get Out of Jail Free card is including a contingency that a home inspection be conducted.


3) A Home Inspection is Optional/Waive the Home Inspection to Sweeten the Deal



BUSTED: Waiving the home inspection is almost always a mistake.  Saving yourself $200-500, or accepting a property “As-Is” can, and in many cases will cost you far more down the line.  Hiring a LICENSED & REPUTABLE home inspector will slow down the buying process and help you uncover any major problems with the house.  If your inspector finds issues, they can be used while in negotiations to establish a final price.  We care so strongly about every home buyer conducting a home inspection, we even have a form about it!


4) Your Accepted Offer is Set in Stone



BUSTED: Even after both parties have agreed to an offer, it does not mean the terms and conditions are 100% permanent.  Financial changes, title issues, inspection issues, appraisal conditions, and even accidental damage by weather can alter the accepted offer.  That is A LOT of variables that may not be under your control.  The good news is: working with a Buyer’s Agent will help you navigate a highly complex, and often overwhelming transaction.


5) Skip the Buyer’s Agent and Do-It-Yourself



BUSTED: “I can find everything online anyway, I’ll just tour the home myself”.  Think again.  Opening a lockbox, and touring you through a home is 5% of what a licensed real estate salesperson can offer.  Here’s a taste of the other 95%.  1) Help you find a home that fits your needs & wants.  2) Provide a buyer with insight into comparables in the market.  3) Provide ALL the necessary resources and documents to write an offer.  4) Most importantly, break apart the entire process into easy to digest pieces.  Here’s a sneak peek at what the buying process looks like…⬇️⬇️ Still seem easy?


Northwood Realty

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