There’s a lot of real estate advice floating around, some of it solid, some… not so much. From the idea that you need a 20% down payment to the belief that spring is the only good time to sell, let’s separate fact from fiction.
Here are some of the biggest real estate myths:
- Myth: You Need 20% Down to Buy a Home
❌ Reality: Nope! While a 20% down payment can help you avoid private mortgage insurance (PMI), many buyers put down as little as 3-5%. In fact, first-time homebuyers often qualify for low down payment programs like MassHousing that make homeownership much more accessible. - Myth: You Should Wait for the “Perfect” Market to Buy
❌ Reality: Trying to time the real estate market is like trying to predict the stock market. Home prices and interest rates fluctuate, but over time, real estate historically appreciates. The best time to buy is when you’re financially ready, not when you’re waiting for a crystal ball prediction. - Myth: Selling in the Winter is a Bad Idea
❌ Reality: While spring and summer are popular, winter sellers face less competition, and buyers are more serious.In Western Mass, inventory dips during the colder months, meaning well-priced homes still get attention. So if you’re thinking of selling, don’t feel like you have to wait for tulip season. - Myth: Renting is Always Cheaper Than Buying
❌ Reality: Renting may seem cheaper month-to-month, but it’s money you’ll never get back. With homeownership, you’re building equity and locking in a stable housing cost, whereas rent can increase yearly. In Western Mass, rising rents make buying an even smarter long-term investment. - Myth: You Don’t Need an Agent, Just Look Online
❌ Reality: Online listings are helpful, but they don’t tell the full story. A great real estate agent (like, oh I don’t know… me? 😏) helps you:
✔️ Find hidden gems before they hit the market
✔️ Negotiate the best deal
✔️ Navigate inspections, contracts, and closing without stress
Whether you’re buying, selling, or just planning for the future, understanding the real facts about real estate makes all the difference. If you have questions or are ready to make a move, I’m here to help!
📞 Call me at (413) 456-6224 or check out the latest listings at iverty.com!