Home Buying, Home Tips

3 Buyer Myths You Need To Know

Hey hey, y’all! Happy whatever day of the week it is that you’re reading this!

I just wanted to jump on here really quick and say hello and talk to you about 3 buyer myths that I’ve heard while being in the real estate world. I also made a quick YouTube video as well that I will link and embed as well. I know some people hate reading and some of you would rather watch me stumble through a video while looking like a goofball so I deliver. You’re welcome.

Myth #1 – You need to have 20% down to purchase a home.

Well, that’s just not true y’all! Although it does have some financial benefits, it’s not required. There are several different options out there when it comes to financing your home so you’ll want to meet with a lender and discuss all options so that you can find out what best suits your current situation.

Some loans require as little as 2.5-3% down and there are also resources for buyers struggling with money for a downpayment and/or closing costs.

My #1 tip is to NOT get pre-approved from an online lender. Look, I’ve worked with online lenders, and not all of them are bad. But I do know that there were times when I was trying to get my buyers answers to questions on the weekends and I couldn’t get ahold of the lender until Monday morning at 9am. And if they are based out of CA? Well, that just adds more time to our timeline and in this market, waiting around is something that we cannot do. Nor do we want to.

Find a local lender you can actually sit down and talk with so they can help you make the best decision for your financial future. If you need recommendations, I have plenty and will gladly share them with you.



Myth #2 – It doesn’t matter if I don’t have a real estate agent.

-Insert my eye roll and ok Karen comment here. (Kidding, but not really)

Some buyers prefer not to commit to working with one specific agent and therefore they don’t take advantage of hiring a buyer’s agent to help them with their home purchase. This means they’re on their own for scheduling showings, being alerted of new listings and when it comes time to negotiations, they won’t have anyone working in their best interest.

This combination can prevent you from getting an accepted offer on the house you really love because you haven’t been educated on the market or how quickly you need to make a move. It could also result in you losing money or overspending because you don’t have anyone negotiating on your behalf.

If you decided not to work with a Real Estate Agent to represent you, the selling agent (who works for the sellers) will be the one writing your offer and handling both sides of the transaction. And keep in mind, as a seller’s agent, they have the SELLER’S best interest in mind. Not yours.

Myth #3 – Let’s wait until Spring to start looking for homes.

Um, excuse me? Have you met Kentucky Derby Season? Literally March-May the city of Louisville is straight-up crazy party town gearing up and getting ready for the Kentucky Derby. Houses are being rented out, Air BNB’s are running at full capacity and the streets are abuzz with festivities, road closures, and events.

As a Real Estate Agent, we hear this all the time, but I want to share why starting your home search before Spring isn’t a bad idea.

Not only is Kentucky buzzing during the Derby season, but there is also less competition when you’re not in the prime months for buying and selling real estate. Buying in the “off-season” could save you money because there are fewer buyers out there which means less potential competition when writing an offer.

Well y’all, that’s all I’ve got for today. Enjoy my ridiculous video and I’ll see you next time! Don’t forget to like and subscribe to my channel!

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