Home Buying Myths Phase 7

To close out our seven series blog session, it is important that buyers understand that Realtors® are on their side. With the knowledge, experience and connections that your Realtor® has, they can make your home buying process so much better. If you are falling into this series late, just click here for our first home buying myth busting article.

Myth #7: Buying real estate guarantees appreciation…

A buyer used to be able to purchase a home and plan to live there for 30 years and pay off their mortgage. This turned into a great investment for that buyer because the home appreciated. Today, buyers are shopping in a different world.

With all the access to information and the use of technology, people just don’t stay in one home as long as they used to. Also, people are waiting longer to settle down and get married, therefore owning one or two homes before staying in one spot.

If a buyer cannot commit a minimum of 5 years when buying a home, it may be more beneficial to rent until they are ready to settle down. It is important to remember that making this purchase is buying a home first and an investment second. Buying a home does not guarantee appreciation.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!