19 Mar Debunking 5 Common Homebuying Myths in Glendale/Peoria
If you’re exploring the market in Glendale and Peoria, you’ve likely encountered a mix of facts and myths about buying a home here. With my expertise in these communities, I’m here to help you navigate through these myths so you can make informed decisions without hesitation. Let’s clear up some common misconceptions and see what the real estate landscape really looks like in our area!
Myth #1: It’s a Buyers’ Market, So Wait for Lower Prices
Truth: The notion that you should wait for prices to fall might lead to missed opportunities. While the market dynamics can shift, Glendale and Peoria have seen a steady demand. This stability means that waiting indefinitely for prices to drop significantly might not be a strategy that pays off.
Myth #2: Homes Under $300K Are Nonexistent
Truth: Contrary to popular belief, affordable housing does exist in our neighborhoods. While inventory fluctuates, both Glendale and Peoria frequently offer a variety of homes priced under $300K, particularly if you’re open to exploring property types like condos or townhomes.
Myth #3: Only First-Time Buyers Get Financial Assistance
Truth: Financial assistance isn’t just for first-time buyers. Several programs are available to a broader audience, including those who haven’t owned in three years or who are moving from different types of property. Local programs are designed to help more than just the first-timer, so exploring these options is crucial.
Myth #4: You Need a High Income to Afford a Home Here
Truth: There are numerous programs and loans that cater to a range of financial situations, with some not strictly bound by income limits. Our local real estate market offers various paths to homeownership that accommodate varying financial capabilities.
Myth #5: Extensive Remodels Are Necessary Before Selling
Truth: If you need to sell your home before buying your next, freshening up your home can help attract buyers, but massive remodels are often unnecessary and may not always return their full value. Focusing on cost-effective updates like paint, fixtures, and landscaping can be just as effective in boosting your home’s appeal without the hefty investment.
Navigating the housing market in Glendale and Peoria means having the right information and the right realtor by your side. If you’re considering buying or selling and feel overwhelmed by all the noise out there, let me guide you with clear, factual advice tailored to our local market. Ready to take the next step or just have a few more questions? Reach out to me, Elise Fay, at EXP Realty. Call or text at (602) 329-7782, and let’s start making your real estate dreams come true!