If you’ve been thinking about buying your first home, chances are you’re getting tons of advice from everyone you mention it to. It can be pretty overwhelming which is why I want to share 3 home buying myths you need to know if you’re considering homeownership. These will help debunk some of the things you may be hearing from people who want to give their advice from the kindness of their hearts but probably aren’t professionals.

MYTH #1: You Have to Put 20% Down to Purchase a Home

This could be the biggest home buying myth of all time! Putting a minimum of 20% down on a house does have some financial benefits .. BUT it isn’t required.

There are several options when it comes to financing your home so you’ll want to meet with a local lender to discuss these options before jumping head first into the process.

There are loans that require as little as 3% down as well as resources for buyers struggling with down payment money and first time home buyer programs.

MYTH #1 Tip:Do not get pre-approved from an online lender. Find someone local who you can actually sit down with, understand your options and make the best decision for your financial future.

MYTH #2: It Doesn’t Matter if I Don’t Have a Real Estate Agent

Some buyers prefer not to commit to working with one specific agent and therefore they don’t take advantage of hiring a buyer’s agent to help them with their home purchase. This means they’re on their own for scheduling showings, being alerted of new listings and when it comes time to negotiations, they won’t have anyone working in their best interest.

This is not a great combination because it can prevent you from getting an Accepted Offer on the house you really love because you haven’t been educated on the market or how quickly you need to make a move. It could also result in you losing money or overspending because you don’t have anyone negotiating on your behalf. I don’t know about you but if I’m buying my first house, or any house for that matter, that does not sound like a situation I want to be in.

MYTH #3: Wait Until “Spring” to Start Looking For Homes

Real Estate Agents hear this ALL. THE. TIME. I want to share why you shouldn’t wait for a specific time of year to start your home search, especially Spring.

There is less competition when you’re not in the prime months for buying and selling real estate. Buying in the “off season” could save you money because there are less buyers out which means less potential competition when writing an offer. It’s best to start your home search when you are ready rather than waiting for a certain time of year. There are always new listings coming on the market and you could be missing your perfect house if you want to start your search until a specific time of year.

If you’re considering homeownership, you’re already ahead of the game by knowing about these 3 myths. Your next step should be to sit down with a local Real Estate Agent who can go over the entire process with you and set you up for success.