First-Time Homebuyer Myths We Need to Bust
Buying your first home is one of the most exciting — and sometimes overwhelming — steps in life. With so much information online and advice coming from family, friends, and social media, it’s easy for myths to get mixed in with the facts.
At The Nettesheim Group, we love helping first-time buyers navigate the journey with confidence. Let’s clear up some of the most common myths so you can move forward fully informed and ready to succeed.
❌ Myth #1: “You need 20% down to buy a house”
✅ Reality: Many buyers purchase homes with far less.
While 20% down eliminates mortgage insurance and can lower your monthly payment, it’s not required. Depending on your loan type and eligibility, options include:
FHA loans: as little as 3.5% down
Conventional loans: as low as 3% down
VA loans (for eligible military/veterans): 0% down
USDA loans (rural areas): 0% down
Plus, many states and counties offer first-time buyer grants and down-payment assistance programs to help bridge the gap.
💡 Don’t let the down payment myth delay your dream — the right loan strategy can make homeownership much more attainable than you think.
❌ Myth #2: “Now isn’t a good time to buy”
✅ Reality: The best time to buy depends on your situation — not headlines.
Interest rates, inventory, and pricing trends change, and markets vary by area. Waiting for the “perfect” moment often means missing opportunities, especially when:
You’re paying rising rent
You find a home that fits your needs and budget
You plan to stay put long enough to build equity
You want to start investing in your future, not your landlord’s
Even as markets shift, today’s buyers can take advantage of:
Seller concessions in some neighborhoods
Reduced bidding wars in certain price points
The ability to refinance later if rates drop
📈 Real estate isn’t about timing the market — it’s about time in the market.
❌ Myth #3: “Renting is always cheaper”
✅ Reality: Renting can feel flexible, but it doesn’t build long-term wealth.
While renting may be the right choice short-term, rising rents often outpace mortgage growth. Homeownership offers:
Predictable payments with a fixed-rate loan
Equity building with every payment
Tax advantages in many cases
The ability to customize and upgrade your space
🏡 Think long-term: rent is a monthly payment; a mortgage is a long-term asset.
❌ Myth #4: “You should wait until you’re ‘100% ready’”
✅ Reality: No buyer feels completely ready the first time.
Preparing financially matters — but waiting for perfect conditions can cause you to delay your future. A consultation with a lender and real estate professional helps you understand what’s possible now and how to prepare if you’re planning for the next 6–18 months instead.
We help you:
Understand budget and financing options
Learn about down payment resources
Build a customized buying timeline
Get clear on your must-haves vs. nice-to-haves
✅ The Bottom Line
Buying your first home is a big step — but it’s also one of the best ways to build long-term financial stability and create a space that’s truly your own.
With the right guidance, strategic planning, and a team who advocates for you, homeownership may be closer than you think.
📞 Thinking about buying your first home?
Whether you’re planning to buy in the next 2 months or the next 2 years, our team is here to help you get prepared and confident.
📲 Schedule a buyer consultation
Let’s talk affordability, financing options, and your ideal timeline.
We’d love to welcome you home. 🏡✨
