Top 7 Home Buying Myths & Misconception

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7

• Home Buying
• Myths Misconception

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People do a lot of research before buying any new
property and especially when they are a first
home buyer. In the initial stage of home buying,
many people create or get wrong and bad
information about the difficulties in searching,
investment, deposit and agent of their new homes.
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There are many misconceptions in the market which
are preventing home buyer to take the first step
towards home buying. These are the common
misconception that comes in the initial stages of
the home buying process and stick throughout the
process.
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1. Dont Buy or Sale on Spring Season (FALSE)
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In the most region of Australia, autumn and
winter seasons is the best time to search home
and property for home buyers. A home buyer can
measure the home specification, sunlight, natural
and artificial property feature. Agent and
builders get tough completion at this time.
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2. Deposit Can Be a Big Trouble (FALSE)
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Previously many financial companies are offering
100 amount to the borrower the on the purchase
price. But later on, some lenders want at least
20 as a deposit amount of the total property
cost. Currently, the ratio of down payment has
decreased to 5, and their borrower can easily
invest the small amount in their new house
without any hassle and extra financial effort.
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3. Hiring an Interior Designer Is Good (True)
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A full furnished home catches the eyes of the
agent as well as home buyers. Fully furnished
homes required fewer changes and therefore, less
effort and low modification price. Hiring an
interior designer gives your new home a new fresh
feel and bright looks. You can consult with your
interior designer for latest home design and
decoration ideas. If you have some extra budget
then gives your home a fresh new look before
selling.
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4. All Real Estate Agents Follow Same Rules
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Many people believe that real estate agents are
always cheating with home buyer and seller. Some
common misconception about real estate agent are
like too expensive, high commission, hiding
necessary information, etc. But before hiring any
real estate agent always do proper research such
as company history, past sales experience, office
address and commission. Choosing a right agent
may help you to sell your property at the right
price and hassle free.
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5. Always Sell before Buying (FALSE)
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It is not always necessary to sell your home
first before buying a new home. Before selling
your existing home make sure secure your new home
first. It is always recommended to maintain the
documentation properly before buying and selling
your new home so that you dont have to wait so
long for preparing documents.
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6. Buying New Home Is Quick Simple
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It is not always too hard and too simple of
buying any new house. If you have clear thoughts
and ready with the checklist, then you can start
searching your dream home. Few things you need to
ask first like property title, locality,
mortgage, home appraisal, etc.
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7. Lowest Interest Rate Are Always Best Option
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Actual price is completely different your
expected amount. You might need to pay some extra
money in various area such as home insurance,
closing cost, appraisal and inspection cost,
property taxes, utility bills, etc. Considering
these cost can help you to plan better budget
plan.
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Contact Us
Format Homes 252 Grange Road, Flinders Park,
South Australia, 5025 Ph [phone] Fax
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sales_at_formathomes.com.au
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www.formathomes.com.au sales_at_formathomes.com.au