Debunking Common Myths about Homebuying

There are several myths about homebuying that can be quite intimidating in today’s market.

Myth # 1: It’s not a good time to buy because home prices are likely to crash.

Reality: Home prices aren’t likely to crash. While home prices vary by locale, nationally, home prices are expected to rise at a more normal pace in 2025. 

Myth #2: If you have student loan debt, you can’t buy a house. 

Reality: It’s still possible to buy a home, even with student loan debt.

“Nearly one quarter of all home-buyers, and 37% of first-time home buyers have student loan debt…” -NAR

Myth #3: It’s going to take forever to save for a down payment. 

Reality: If you need to give your savings a boost, look into down payment assistance. A lot of people don’t know this is an option. Most first-time home buyers, a whopping 80%, qualify for down payment assistance, but only 13% use it.

Don’t let these myths hold you back from your homebuying goals. Connect with an agent who can help you separate the facts from your fears. 

Preferred Settlement Services is a full-service title and closing company. With decades of combined experience, our team ensures a smooth closing process, no matter the challenges. Contact us at 941-376-9551 for more information or to schedule a closing.