top 7 home buying myths & misconception

7Home Buying

Myths & Misconception

People do a lot of research before buying any new property and especially when they are a first home buyer. In the initial stage of

home buying, many people create or get wrong and bad information about the difficulties in searching, investment,

deposit and agent of their new homes.

(08) 8443 4555

www.formathomes.com.au | [email protected]

http://www.formathomes.com.au/

There are many misconceptions in the market which are preventing home buyer to take the first step towards home

buying. These are the common misconception that comes in the initial stages of the home buying process and stick throughout

the process.

(08) 8443 4555


(08) 8443 4555


#1. Don`t Buy or Sale on Spring Season (FALSE)

In the most region of Australia, autumn and winter seasons is the best time to search home and property for home buyers. A home buyer can measure the home specification, sunlight, natural and

artificial property feature. Agent and builders get tough completion at this time.

(08) 8443 4555


(08) 8443 4555


#2. Deposit Can Be a Big Trouble (FALSE)

Previously many financial companies are offering 100% amount to the borrower the on the purchase price. But later on, some

lenders want at least 20% as a deposit amount of the total property cost. Currently, the ratio of down payment has

decreased to 5%, and their borrower can easily invest the small amount in their new house without any hassle and extra financial

effort.

(08) 8443 4555


(08) 8443 4555


#3. Hiring an Interior Designer Is Good (True)

A full furnished home catches the eyes of the agent as well as home buyers. Fully furnished homes required fewer changes and therefore, less effort and low modification price. Hiring an interior designer gives your new home a new fresh feel and bright looks. You can consult with your interior designer for latest home design and decoration ideas. If you have some extra budget then gives

your home a fresh new look before selling.

(08) 8443 4555


(08) 8443 4555


#4. All Real Estate Agents Follow Same Rules

Many people believe that real estate agents are always cheating with home buyer and seller. Some common misconception about real estate agent are like too expensive, high commission, hiding

necessary information, etc. But before hiring any real estate agent always do proper research such as company history, past

sales experience, office address and commission. Choosing a right agent may help you to sell your property at the right price

and hassle free.

(08) 8443 4555


(08) 8443 4555


#5. Always Sell before Buying (FALSE)

It is not always necessary to sell your home first before buying a new home. Before selling your existing home make sure secure your new home first. It is always recommended to maintain the

documentation properly before buying and selling your new home so that you don’t have to wait so long for preparing

documents.

(08) 8443 4555


(08) 8443 4555


#6. Buying New Home Is Quick & Simple

It is not always too hard and too simple of buying any new house. If you have clear thoughts and ready with the checklist, then you

can start searching your dream home. Few things you need to ask first like property title, locality, mortgage, home appraisal,

etc.

(08) 8443 4555


(08) 8443 4555


#7. Lowest Interest Rate Are Always Best Option

Actual price is completely different your expected amount. You might need to pay some extra money in various area such as home insurance, closing cost, appraisal and inspection cost,

property taxes, utility bills, etc. Considering these cost can help you to plan better budget plan.

(08) 8443 4555


(08) 8443 4555


Contact UsFormat Homes

252 Grange Road,Flinders Park,

South Australia, 5025

Ph: (08) 8443 4555Fax: (08) 8443 4055

www.formathomes.com.au [email protected]



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