It can be pretty intimidating to dip your toes into the world of home ownership in Las Vegas, NV, especially if you’re a first-time homebuyer. To complicate things, there are a number of myths flying around out there surrounding the home buying process.
The misconceptions have many kept many would-be homeowners from realizing the personal and financial rewards of owning Summerlin homes for sale is Las Vegas, Nevada. To clear things up, here are 4 myths about buying your first home that simply aren’t true.
Myth #1 – “Whatever Shows Up On The Inspection Report Is The Seller’s Responsibility”
Most offers on a Summerlin home for sale usually come with a home inspection condition that makes the offer contingent on the acceptance of a home inspection report by the buyer. Many buyers, however, are under the impression that sellers are responsible for all issues that are listed on the inspection report.
The seller is required to make certain major repairs as required by the lender, everything is still negotiable. A buyer may ask the seller to fix a minor crack in the granite counter or repair any scuff marks on the laminate flooring, but the seller can refuse, leaving the buyer with the decision of whether or not to continue with the offer anyway.
Myth #2 – “The Perfect Home Is Out There – I Just Have To Wait For It”
Buyers have a tendency to focus too much on all the little things that may be wrong about a house rather than on the majority of the things that are right. Summerlin homes for sale are much like people – they aren’t perfect. Even brand new homes might have a few minor flaws.
The goal of looking for a house is to find the perfectly acceptable home – one that may have a couple of quirks that you can either live with or fix, but is otherwise fits the majority of your criteria. An experienced Summerlin real estate buyer’s agent can help you identify issues that are deal-breakers, and help keep you on perspective by separating minute details from the big picture.
Myth #3 – “It’s Cheaper To Rent Instead Of Own”
If you buy Summerlin homes for sale that is within your budget and your mortgage terms allow you to make comfortable monthly payments, the cost of rent can often be higher than mortgage payments in the Las Vegas metro area.
There are definitely other expenses associated with owning Summerlin real estate that you wouldn’t be responsible for if you were renting, but one thing that many people forget is the fact that renting does not allow you to build equity.
The ability to build equity into a home that you own is like paying into a savings account month after month – if you buy a home for $200,000, and pay down your mortgage to $175,000 in 5 years, you’ll have $25,000 in home equity that can be tapped into later on if you need a lump sum of money to pay for other expenses. If you sell your real estate down the line, any equity that the property has accumulated will provide you with more profit from the sale of the home.
Myth #4 – “I Don’t Need A Real Estate Agent To Buy A House”
Without the proper Summerlin real estate team behind you – especially if you’re a first-time homebuyer – you could potentially find yourself in a tough position. Many buyers don’t take the time necessary to look for a real estate agent who can best represent them in their purchase.
Think about it this way – would you perform heart surgery on yourself or a family member? Do you file your own income taxes, or do you opt to use the services of an accountant? Being represented by a licensed real estate agent will give you the benefit of professional skills and knowledge, including the ability to find mortgage financing and close the purchase with your best interests put first.
It’s always in your best interests to have an experienced, knowledgeable Las Vegas real estate agent representing you in a home purchase. With such a major investment on the line, you want to have someone who can help you get to closing without leaving no stone unturned, and ultimately saving you money – and a lot of unnecessary headaches.
A professional Summerlin Realtors will be able to sort the myths from the reality and make your first or next home-buying experience a positive one. Contact The Heuser Team today for more information on how you can become the proud owner of an amazing place to call home!