Buying or selling a home is one of the biggest financial decisions many people can make, yet real estate advice often comes with myths that can create unnecessary hesitation or poor choices. Understanding the facts behind these misconceptions can make the process smoother and more successful.

One of the most persistent myths is that buyers must have a 20 percent down payment to purchase a home. While that figure can help avoid private mortgage insurance, it is far from required. Many lenders offer programs with as little as three to five percent down, and some even less for qualified buyers. Options like FHA, VA, and USDA loans can make homeownership accessible without draining savings. What matters more than a large down payment is a stable income, good credit, and a clear understanding of loan terms.

Another common misconception is that selling a home “as is” is the best choice for a quick sale. While it can save time upfront, it often results in a lower selling price and can limit buyer interest. Minor improvements, such as fresh paint, landscaping, or simple repairs, can add value and attract more competitive offers. Even modest effort before listing can make a noticeable difference in both speed and final price.

A third myth is that spring is the only good time to sell. While warmer months do bring more activity, serious buyers shop year-round. Homes marketed during fall or winter often face less competition, giving sellers more visibility and negotiating power.

In the end, successful real estate decisions come from clear information, not assumptions. Working with an experienced real estate agent and staying flexible can help buyers and sellers navigate the market with confidence, avoiding the costly traps that these common myths can create.

For more information, and to access the best resources to help you buy or sell a home, visit AddressNIllinois.com. You’ll find expert guidance and tools to support you through every step of the process.