Buying a home can feel overwhelming. There’s no shortage of advice out there—unfortunately, not all of it is true and none of it is catered to each individual Buyers’ specific needs. Some outdated information continue to mislead potential buyers, holding them back from making smart, timely decisions.
Let’s clear the air and break down a few real estate myths that really need to to be buried in 2025.
Myth #1: You Need 20% Down to Buy a Home
The Reality: You don’t.
Yes, putting 20% down can help you avoid private mortgage insurance (PMI), but it’s not a requirement. Many loan programs offer options as low as 3% down, and some even offer zero-down financing for qualified buyers. Waiting to save 20% could delay your homeownership goals by years—and that might cost you more in the long run if prices keep rising.
Myth #2: You Should Always Wait for Rates to Drop
The Reality: Waiting could mean paying a higher price.
Interest rates fluctuate, and while a lower rate sounds ideal, the truth is nobody can predict the perfect time to buy. Interest rates and home prices are inversely related. Meaning, when interest rates rise, that puts pressure on home prices and they drop or plateau. You can always refinance later if rates drop. Meanwhile, waiting could mean paying more for the same home as prices continue to climb.
Myth #3: You’ll “Just Know” When You Find the Right House
The Reality: Buying a home is a mix of emotion and strategy.
Some people expect a magical "aha" moment when they walk into their perfect home. While I do believe in the magic, in reality, most homebuyers weigh pros and cons, compare options, and make decisions based on what’s available, affordable, and practical. It’s okay if the decision feels more logical than cinematic.
Myth #4: Zestimates = Reality
The Reality: Automated estimates are just rough guesses.
Online home value tools can be helpful, but they don’t replace a professional appraisal or a local agent’s expertise. Zestimates (and similar tools) often miss key factors like home condition, neighborhood nuances, and recent upgrades. Use them as a starting point, not a final answer.
Bottom Line: Get the Right Info, Not the Right Myth
The home buying process gets a lot easier when you trade myths for facts and information is power. Your dream home might be closer than you think—especially when you’re armed with accurate information and the right team to guide you.
What’s a myth you believed before buying? Let’s talk about it.
