Essex is an English county that offers something for everyone. Whether you are looking to live in the relaxing countryside, enjoy the waters on the coast, or live the urban life, you will find a place that will match your preference. Typing the keywords houses for sale in Essex into your web browser will give you a wide range of options. You may have heard of different information about buying a house, but not all of it is true. We listed some of the most common myths regarding buying a home, so you don’t fall for them when you make your purchase.

Do not deal with a real estate agent

It’s easy to get swayed by these words because you might be thinking that you will save more since you don’t need to pay the real estate agent’s fee. However, there could be more downside to it and you might not be getting the savings that you thought you will have in the end. Real estate agents are professionals in this field, so they know how to negotiate and get the best deal for you. You might not stand a chance of negotiating for a better price if you do it by yourself, especially if you are not experienced in this area.

The price on the listings is the only thing to pay

The cost of the home is not the only expense that you have. Other costs that come with buying a home include an attorney’s fee, closing fee, broker fee, inspection fee, and the appraisal fee. If you need to upgrade or repair something in the house, that’s also an added cost. Other expenses to consider are moving expenses like hiring removers and shopping for home furniture and other things you will need in your new home.

A mortgage with a lower interest rate is always better

You want to have the lowest possible rate for your mortgage. However, it may not always be the best option for you. Consider other factors too to ensure that it is the right deal. For example, if the starting interest rate is lower than the other, but it will keep increasing every year, it might not be a cost-effective option in the end. Compute the overall cost that you will incur throughout the loan duration to see the cheaper option.

Buy a home base on the loan amount you can get

When you apply for a mortgage, you will receive an estimated amount that you will be eligible for. However, do not make it your basis for your home price. Make your decision based on how you could comfortably pay for it. It’s recommended that your debt should not be over 41% of your monthly income. It is not just your mortgage, but all other loans that you have. It’s to ensure that you will be able to pay them without getting into hardship.

Keep these myths in mind and the truth behind them when making your home purchase. It will help you make the best choice in making this big decision.

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