Common Real Estate Myths—Debunked

When it comes to buying or selling a home, misinformation is everywhere. From outdated advice passed down from relatives to clickbait headlines online, real estate myths can cost buyers and sellers time, money, and missed opportunities. Let’s set the record straight by debunking some of the most common real estate myths.

Myth #1: You Don’t Need an Agent in the Internet Age

Reality:
While it’s true that many listings are available online, a real estate agent offers much more than just access to homes. From pricing strategy and market insight to negotiation skills and transaction management, a good agent protects your interests every step of the way. Online tools can’t replace local expertise.

Myth #2: Overpricing Your Home Leaves Room to Negotiate

Reality:
Pricing a home too high can backfire—big time. An overpriced home tends to sit on the market longer, becoming stale and making buyers suspicious. The longer it lingers, the more likely you are to drop the price anyway—often lower than if you had priced it right from the start.

Myth #3: You Need a 20% Down Payment to Buy a Home

Reality:
There are many loan programs available that require far less than 20% down. FHA loans, VA loans, USDA loans, and even some conventional options allow buyers to purchase with as little as 3% (or even 0% in some cases). Don’t let this outdated rule keep you from exploring homeownership.

Myth #4: Spring Is the Only Good Time to Sell

Reality:
While spring is a popular time to list, homes sell year-round—and often with less competition in the off-season. Motivated buyers exist in every market, and serious ones tend to shop regardless of the season. With the right marketing and strategy, you can sell successfully any time of year.

Myth #5: Renovations Always Boost Your Home’s Value

Reality:
Not all upgrades give you a strong return on investment. In fact, some expensive remodels only recoup a fraction of their cost. If you’re renovating to sell, focus on improvements with the biggest ROI—like fresh paint, updated lighting, and curb appeal enhancements.

Myth #6: You’ll Save Money Buying Without an Agent

Reality:
In most cases, the seller pays the commission for both agents. Going solo as a buyer doesn’t typically reduce the price—it just leaves you without representation. A buyer’s agent can help you avoid pitfalls, negotiate better terms, and guide you through a complex process with confidence.

Myth #7: You Can’t Buy a Home with Student Loan Debt

Reality:
Student loans don’t automatically disqualify you from getting a mortgage. Lenders look at your full financial picture, including income, debt-to-income ratio, credit score, and job history. Many buyers with student loans successfully qualify for financing every day.

Final Thoughts

Don’t let myths steer your real estate journey. If you’re unsure about something you’ve heard, talk to a trusted local expert who can provide accurate, up-to-date information tailored to your situation. Whether you’re buying your first home or selling a longtime residence, knowledge is power—and the right guidance makes all the difference.