Top Homebuyer Myths You Need to Stop Believing Before You Start House Hunting
When today’s buyers start their home search, they usually come prepared with excitement, enthusiasm… and a surprising amount of misinformation. Between social media “experts,” outdated advice from friends, and internet rabbit holes, myths spread fast, and they can derail a solid deal if they’re not addressed early.
Here are the most common misconceptions buyers bring to the table, and the realities every agent wishes they understood from the start.
Myth #1: “We don’t have enough money for a down payment.”
Reality: Most buyers purchase with 3–5% down, and many qualify for 0% down through VA or USDA loans.
Years ago, putting 20% down was more common because lending rules were different and loan programs were limited. Today, buyers have far more flexible options.
Conventional loans may require as little as 3% down. FHA loans start at 3.5% down. And eligible buyers using VA or USDA programs can purchase a home with no money down at all.
Myth #2: “We’ll wait for rates to drop.”
Reality: Perfect timing rarely exists, but the right home does. Interest rates fluctuate constantly, and trying to predict the ideal moment to enter the market when rates drop is a losing game.
Here’s what buyers often miss: If the right home hits the market in the right location, at the right price, with the features you truly want, then hesitating over a fraction of a percentage point can cost more than it saves. Home prices, competition, and local inventory shifts can impact affordability just as much as rates do.
Agents often recommend purchasing the home that fits your life now, and refinancing later if rates drop. Refinancing is a normal part of homeownership, and plenty of buyers use it to improve their long-term financial picture once the market shifts.
Myth #3: “New construction doesn’t need an inspection.”
Reality: New homes need inspections just as much as older ones, and in some cases, even more.
“Brand new” doesn’t mean “flawless.” It means the house was built recently by humans, and humans occasionally miss things. Even the best builders with great reputations can overlook small but important details during the construction process, like wiring issues, improper drainage, or insulation gaps. A third-party inspection ensures that buyers catch any problems before closing, saving money (and headaches) down the road.
Myth #4: “My credit score is fine.”
Reality: Credit apps are great for giving you a general sense of where you stand, but they’re not using the same scoring models lenders use. They can often be off by 20-40 points, which can affect loan programs, interest rates, or even approval itself.
A buyer who thinks their credit is “good enough” may discover late in the process that their real score puts them in a higher rate bracket or disqualifies them from certain low-down-payment options.
This is exactly why agents push buyers to get professionally preapproved early. A lender will pull all three credit bureaus, verify income and debt, and give you a true picture of your buying power. No guessing. No surprises.
Myth #5: “Zestimates are accurate.”
Reality: Automated estimates are just that, automated. Zestimates and other online home value tools are fun to look at, but they’re built on algorithms, not actual knowledge of your neighborhood or market conditions. They pull from public data, tax records, and broad regional trends, none of which tell the full story of an individual property.
Agents use real data, comparable sales, and on-the-ground experience to determine value accurately when pricing a home or determining an offer strategy.
Homebuying is a big decision, and the right agent does far more than open doors. They make sure buyers understand the process, the market, and the realities behind the noise to keep everything moving in the right direction. If you’re considering entering the market, find a knowledgeable real estate agent who can help you navigate all the nuances that come with purchasing a home.
