When buying a home or renting one, you will come across different opinions and views. Some tend to be true and others tend to be fictional. Let’s have a look at few myths floating around;

1. Waiting to Buy when the Price is Low

There is no guarantee, that the price will fall and continue falling and this means that you might end up missing out on years of equity building and price appreciation. This is buy-high, sell-higher. And this is how you end up with the great winners. It’s the same idea with stocks. If you do it wrong, it can be incredibly dangerous to your wealth. But if you do it right, it can provide you with a ton of value for an acceptable level of risk.

2. Owning a Home is Better than Renting

Buying or renting may be better for you. Determine your personal situation first and ask yourself several questions before deciding on whether to buy or rent such as;
a) How long they will plan to stay in their newly acquired residence and whether that suits their long-term plans.
b) Are you ready for the responsibilities that come with owning a home?

Debunking myth

3. When Making an Offer for a Home, you Need to Start Low

There is no fault in negotiating, if the home is priced within range, an unrealistically low offer is only going to alienate the seller, and you won’t be taken seriously. Just as sellers make a classic mistake of overpricing, buyers often make the mistake of wanting to start with a really low offer.

4. Avoid Buying a First Floor Unit

Safety, privacy and noise levels are a few reasons buyers tend to shy away from first-floor condos. But don’t pass up a great deal just because it’s on the ground level.
The truth: Window shades that open from the top down can keep out inquisitive stares from passers-by, and decorative iron grills can exclude intruders. Add acoustical paneling inside and a solid door that fits well to eliminate sounds from the outside world.