Are you in the process of buying a home? There is a variety of myths about the home buying process, so we have put together this article to correct the worst of the misinformation. Keep reading to learn the truth behind some of the most common myths about purchasing a house.

• Myth: Buying a home means you have to start paying property taxes, so it’s smarter to rent. 
• Fact: Renters pay property taxes, too. Part of your monthly rent payments go towards covering the property taxes for your landlord. We hear people use this myth as a reason to avoid buying a home, so we wanted to include it here to tell you not to fall for this faulty logic. If you are interested in beginning the home buying process, you can reach out to a trusted real estate lawyer for proper guidance.
• Myth: The minimum down payment for a home is always 20%. 
• Fact: Part of the home buying process involves making a down payment on your new property, and it’s wise to pay as much as you can afford. The more you pay now, the lower your monthly mortgage payments will be. However, it’s possible to buy a home for less than 20% down, and in many cases, it’s a smart move to buy sooner to lock in a lower down payment. 
• Myth: You don’t need a real estate lawyer to buy a home. 
• Fact: Yes, you do. The home buying process involves a significant amount of legal paperwork, as transferring ownership of a property from one person to another is a legal process. We strongly encourage you to work with a real estate lawyer as you buy and close on your new home. You will want a lawyer whom you can count on, one who will make sure everything is legally squared away. 

The home buying process can be overwhelming. For your peace of mind, get an experienced real estate lawyer who is familiar with the home buying process and can guide you through every step of the process from start to finish.