King bell
VIP Contributor
You probably know that the real estate market can be a bit tricky. It's important to be informed and make decisions that take into account all of the factors, so you don't lose money or find yourself in a difficult spot down the line. Still, there are some misconceptions about real estate out there -- and some of them are downright damaging.
1. Homes in a good neighborhood are always overpriced.
It can be tempting to believe that anything associated with great schools, beautiful homes, and friendly neighbors is too good to be true. But contrary to popular belief, the homeowners in your neighborhood may not have the most extreme conditions -- but they're not exactly average either. A good neighborhood will have quite a balance of all kinds of homes, and that means not every one of them will be expensive. In fact, the market has seen it his way several times in recent history -- and this means that you can find affordable options within your own reach as well as more affordable alternatives across town.
2. You don't need to move every time you make a change in your life.
There's no doubt that life changes can be stressful, but selling your home can also be stressful. When you're selling a home, it means giving up the place where you've invested a lot of time and money. You'll have to face the emotional and practical aspects of leaving your old neighborhood, which can make moving stressful in itself -- so why not find a way to stay for as long as possible? In some cases, you may even be able to work with your current homeowners insurance company to keep them on the hook for your old home for an extended period of time.
3. You need to have an ideal neighborhood in mind before you buy or build.
It can be difficult to know exactly what you want out of a home when you first start looking into the real estate market. If you've been saving money for a while, allowance or even money saved because you didn't spend much on housing could be nice. Your budget and lifestyle are going to have a big influence on your final decision, but don't let them stop you from taking the plunge -- it's entirely possible to find something that fits your needs perfectly within your budget.
4. You always need to seek professional advice from an inspector.
It's a good idea to have a professional check out your home for any major problems -- but it's not always necessary. In many cases, you can use your own home inspection to troubleshoot any potential problems. This will also allow you to have more flexible options when it comes time to negotiate with the seller.
1. Homes in a good neighborhood are always overpriced.
It can be tempting to believe that anything associated with great schools, beautiful homes, and friendly neighbors is too good to be true. But contrary to popular belief, the homeowners in your neighborhood may not have the most extreme conditions -- but they're not exactly average either. A good neighborhood will have quite a balance of all kinds of homes, and that means not every one of them will be expensive. In fact, the market has seen it his way several times in recent history -- and this means that you can find affordable options within your own reach as well as more affordable alternatives across town.
2. You don't need to move every time you make a change in your life.
There's no doubt that life changes can be stressful, but selling your home can also be stressful. When you're selling a home, it means giving up the place where you've invested a lot of time and money. You'll have to face the emotional and practical aspects of leaving your old neighborhood, which can make moving stressful in itself -- so why not find a way to stay for as long as possible? In some cases, you may even be able to work with your current homeowners insurance company to keep them on the hook for your old home for an extended period of time.
3. You need to have an ideal neighborhood in mind before you buy or build.
It can be difficult to know exactly what you want out of a home when you first start looking into the real estate market. If you've been saving money for a while, allowance or even money saved because you didn't spend much on housing could be nice. Your budget and lifestyle are going to have a big influence on your final decision, but don't let them stop you from taking the plunge -- it's entirely possible to find something that fits your needs perfectly within your budget.
4. You always need to seek professional advice from an inspector.
It's a good idea to have a professional check out your home for any major problems -- but it's not always necessary. In many cases, you can use your own home inspection to troubleshoot any potential problems. This will also allow you to have more flexible options when it comes time to negotiate with the seller.
