Myths About Purchasing A Home – Part 4

Home buying myths

The truth behind some common home buying myths

Myths About Purchasing A Home

Spring marks the beginning of home buying season, and for the first time in over a decade, home sales – not home refinances – are expected to dominate the market. But a few stubbornly persistent myths about buying a home are likely to keep some potential buyers from buying their dream home.

Home Buying Myth #3

I do not make enough money to own a home. so I see myself as a renter for the long-term
For millions of people, renting is the right solution – and their housing of choice. But if you dream of owning a home of your own, don’t count yourself out before exploring your options. Homeownership may very well be within your means. In fact, real estate website Trulia reported in February that when comparing owning versus renting a same-sized house, owning is the cheaper option in all 100 of the largest metro areas (although the gap has narrowed over the past year).

With a 30-year fixed-rate mortgage, you will have the certainty and stability of knowing what your mortgage payment will be for the next 20 years – unlike rents, which will continue to rise over the next three decades.

And if you have any questions about qualifying for a home loan please feel free to give us a call or send us an email any time.

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