Top Misconceptions About Buying a Home: What Texas Buyers Should Really Know

As a Texas Realtor® who works with buyers across the U.S., I’ve noticed that many people hold onto misconceptions that make the home-buying process feel more intimidating than it really is. Today, I want to clear up some of the most common myths I hear, so you can make confident decisions when you're ready to purchase a home—whether it's here in Texas or anywhere in the country.

One of the biggest misconceptions is that you need a 20% down payment to buy a home. This simply isn’t true for most buyers. The average down payment for first-time homebuyers is roughly 6%, and there are several loan programs designed to make owning a home more accessible. FHA loans allow down payments as low as 3.5%, VA loans offer 0% down for eligible service members and veterans, and Texas programs like TSAHC and TDHCA provide down payment and closing cost assistance. If the size of a down payment has been holding you back, you may have far more options than you think.

Another myth I often hear is that renting is always cheaper than buying. While renting may feel easier in the short term, Texas rental prices continue to rise steadily every year. With a fixed-rate mortgage, your payments remain consistent, and you build equity over time—something renters never gain. Homeownership can often be the more financially stable choice, especially here in Texas where long-term appreciation has remained strong.

Many people also assume they need perfect credit to qualify for a home loan. That’s not true. FHA loans accept credit scores starting at 580, and conventional loans usually start around 620. I work with many lenders who help buyers rebuild or strengthen their credit, and many Texas programs offer financial education and support. Don't count yourself out before exploring your options.

Another misconception is the idea that you should “wait for the market to crash” before buying. Texas real estate historically remains resilient due to population growth, job opportunities, and strong demand. Waiting for a crash often means missing out on equity growth or dealing with higher interest rates later. There’s no perfect time to buy, but there is a right time for you based on your financial comfort and goals.

Some buyers think they should buy the cheapest home they qualify for, but affordability isn’t only about price—it's about long-term fit. I always recommend choosing a home that matches not just your budget but also your lifestyle and future plans. A home that’s too small or not aligned with your needs often leads to another move sooner than expected, which can cost more in the long run.

Another misconception is that you don’t need a real estate agent to buy a home. In Texas, the seller typically pays the buyer’s agent commission, meaning my services cost you nothing out of pocket. A Realtor® protects your interests, negotiates on your behalf, and ensures all contracts, deadlines, and inspections are handled properly. Going into a transaction without representation can lead to mistakes that cost far more than having an agent working with you from the start.

Lastly, many people think it's a bad time to buy if interest rates are high. While rates influence your monthly payment, they’re not permanent. You can always refinance later when rates drop. What you can’t change is the price you pay for the home. Higher-rate environments can also mean less competition, fewer bidding wars, and better opportunities for negotiation—all of which benefit buyers.

Buying a home is one of the biggest financial decisions you’ll ever make, and my goal is to help you navigate it with clarity and confidence. If you're considering buying a home in Texas—or anywhere in the U.S.—I’m here to guide you every step of the way and answer any questions you may have. Reach out anytime; I’m always happy to help.