EDGEhomes Blog

Aug 20
2017

Home Ownership and 5 Myths Holding You Back




What are the top 5 myths holding someone back from buying a new home?
1.  There isn’t a new home available in my price range.  False.  It may surprise you that payments start in the $700’s monthly so there may be homes you didn’t think you could buy. EDGEhomes is a great example of offering new new condos, Townhomes and single family homes. With 7 new communities that range in prices and amenities affecting your lifestyle.
2.  A huge down payment is required. False. Some buyers don’t realize that zero down payment programs are available.  Or FHA with a 3.5% down payment or 5% down with conventional.  Interest rates are also amazingly low.
3.  It’s better to save for a bigger down payment than purchase now. False again. While it’s great to save for a down payment it’s equally important to understand the market and rates.  While homes are appreciating, you lose money by waiting. It’s smart to put your money to work for you now.  When prices and rates go up, sitting out of the market may exceed the amount you can save for your down payment. Once you understand how you leverage your money now, it could save you thousands.
4.  I don’t qualify for a new home. In many cases this is false. It may be shocking to hear that two incomes at minimum wage can qualify to buy a new condo. Lack of understanding shouldn’t hold you back. It may be possible for you to own now, so don’t just assume and just rule out home ownership.
5.  Buying instead of renting doesn’t impact my lifestyle.  False. Not only do you have the latest products, design and amenities check out these facts. According to the national association of realtors, some of benefits of buying along with financial gain include: stability, health benefits, benefits the children, social benefits, and customizable space.
Once you understand why now is the time to buy a new home, it’s time to visit EDGEhomes.com or visit a model home for more information. Today’s buyers are more sophisticated. We have experts to provide information that empowers you to make an important decision. Home ownership is smart.

* DISCLAIMER: The figures shown represent monthly principal & interest payments only. Monthly taxes, home owners insurance, and Mortgage Insurance are not included in this amount. These figures are based on a Conventional mortgage loan with a 5% down payment and are based on a 700 credit score. These are estimates only and not guaranteed payment amounts.

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