Real estate is complicated. There’s lots of advice flying around, and it’s difficult to sort through all this information. Unfortunately, many individuals end up misinformed or confused by the aspects of real estate. Take a look at these common real estate myths so that you don’t make these mistakes.

Putting down 20% on a house is the cheapest way to go.

Like many real estate issues, this depends on the home and the buyer’s finances. It is not a bad thing to put down a large down payment, but the reasoning behind this is typically that it is the cheapest option as far as lending goes—less debt and interest, a lower mortgage payment every month. But the reality is that it all depends on the lending package. You’ll find down payments of around 3.5% with Federal Housing Administration loans. Also, there are many options for getting cheap lending rates—if you have mortgage insurance, you could get a cheaper rate than even the guy who puts down 25% since lenders put more faith in a buyer that is covered if they default. If you’re after a cheap rate and low monthly payments, don’t assume that putting down a larger down payment is your only option.

It’s cheaper to buy or sell without the help of an agent.

It is true that going the home buying process or home selling process without an agent will save you the agent’s commission. But the reality is that this route requires a lot of time and effort from the individual, especially if they consider their time money. Buying or selling without an agent means that you will have to advertise, research, scour listings, manage showings, negotiate, and many other aspects all on your own. You are probably not as familiar with your area’s real estate market or really real estate in general as an agent will be, and you don’t have the network of an agent to draw from. No, it’s not impossible to buy or sell a home without an agent, but you can bet it will be frustrating. Without an agent, get ready to spend a lot of your free time doing market research and studying technical aspects of buying or selling a home. And even after you’ve found your home or buyer, there’s still a lot of work left that your agent will help you with, such as inspection and closing procedures. If you make a mistake on paperwork or in other technical aspects, you may end up paying more in the end than if you’d have hired an agent.

These common real estate myths illustrate just how complicated real estate can be. If you’re looking for Denver Colorado homes for sale, consider using the help of a PorchLight real estate agent to help you sort through these issues.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit