Many myths floating around out there are fairly harmless. However, misconceptions about purchasing a home could result in you missing out on opportunities, waiting longer than necessary to purchase a home, or stop you from buying on in the first place. Here are two commonly believed myths about the home buying process that you can safely ignore:
Myth #1- You Must Have a 20% Down Payment
One of the top home buying myths is you must put up a 20 percent down payment on a home in order to purchase it.
Looking around at the homes for sale in your neighborhood (and seeing them get snatched up quickly), you may be tempted to sell your home. If you want to get the absolute most money out of your home, you should renovate or remodel. Here are four renovation and remodeling projects that increase the value of your home:
Gut the kitchen entirely. If you have recently done any remodeling work on the kitchen, leave just that.
You see your pool as one of the top advantages of your property, so if you are like a lot of homeowners when they decide to sell, you will assume that just having the pool will automatically put your real estate listing at the top of the list. However, even though a pool can be a good bonus to have listed in your property amenities as a seller, having a pool can also turn some buyers off.
If you are selling an old and dilapidated property, try going the as-is basis route. On the surface, it may seem like selling a house on an as-is basis would fetch considerably low returns, but this isn't necessarily the case. Here are a few reasons an as-is basis sale can still fetch you good money:
You Won't Spend a Lot of Money Upfront
A conventional sale requires considerable upfront expense. The buyer expects a house in a perfect condition, and you will strive to give them exactly that.
If you and your spouse are currently looking for a home to buy where you can settle down, have kids, and live for many years, you might want to look for a home that offers growth possibilities. There are several key things to look for in a house if these are your goals, and here are some tips to keep in mind as you begin shopping around for the right house.