By LandMasters Real Estate
Buying a home should feel exciting, not overwhelming. But when misinformation gets in the way, it can complicate the process and cause unnecessary hesitation. At LandMasters Real Estate, we hear the same myths about buying a home again and again—especially around Lake LBJ, where luxury meets lakeside living. We’re here to clear the air and help you move forward with clarity and confidence.
Key Takeaways
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You don't need 20% down to buy a home
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Waiting for the "perfect time" can cost you more
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Pre-approval isn't just for first-timers—it's for everyone
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Lakefront properties have unique financing and value factors
Myth #1: You Need 20% Down to Buy a Home
Why This Is One of the Most Common Misunderstandings
Many buyers still believe they need to save 20% of a home's price before making a purchase. That outdated rule causes people to delay unnecessarily.
Here's the truth:
Here's the truth:
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Many loan programs allow as little as 3% to 5% down
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Luxury and second-home financing may require more, but not always 20%
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Lake LBJ buyers often use jumbo loans with flexible terms
Myth #2: The Market Will Crash, So It’s Better to Wait
Why Timing the Market Rarely Works in Your Favor
Some buyers are holding back, waiting for prices to drop. But here in the Lake LBJ region, demand remains strong and inventory remains tight.
Important insights:
Important insights:
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Prices in sought-after areas like Lake LBJ tend to stay resilient
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Interest rates fluctuate, but waiting can lead to higher costs
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Buying now locks in your monthly payment and builds equity
Myth #3: You Can’t Compete Without an All-Cash Offer
Why Financing Still Wins Deals
We often hear this from buyers entering competitive markets. While cash offers are strong, they're not the only way to succeed—especially when working with experienced agents.
How you can stay competitive:
How you can stay competitive:
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Pre-approval shows strength and seriousness
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Flexible closing timelines and contingencies can beat cash
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Relationships matter in small, high-value markets like Lake LBJ
Myth #4: Pre-Approval Is Only for First-Time Buyers
Why It Matters No Matter Your Experience Level
Even seasoned buyers can underestimate the power of a strong pre-approval. It sets the tone for a serious offer and streamlines the closing process.
Key reasons to get pre-approved:
Key reasons to get pre-approved:
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It defines your real budget and protects your time
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Sellers take your offer more seriously
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It speeds up closing, which is especially helpful in hot markets
Myth #5: Waterfront Property Is Too Complicated to Buy
Why Local Expertise Makes All the Difference
Lakefront homes come with their own set of considerations—but that doesn't mean they're out of reach. With the right guidance, you can buy confidently.
What to keep in mind:
What to keep in mind:
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Lake access rights and dock regulations vary by property
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Insurance and maintenance can differ from inland homes
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Experienced local agents help you navigate inspections, easements, and usage rules
FAQs
Do I need 20% down for a home on Lake LBJ?
Not necessarily. While some luxury homes may require larger down payments, many financing options exist below 20%.
Is now a bad time to buy with rates higher?
Not at all. Rates shift often, and waiting could mean missing out on ideal properties or paying more in the long run.
What makes lakefront purchases different?
Lakefront homes involve unique considerations like boat access, shoreline rights, and sometimes HOA rules. We help you evaluate them all.
Contact Us at LandMasters Real Estate Today
Don't let outdated myths about buying a home hold you back from the lifestyle you want. Whether you're eyeing a weekend getaway or your forever home on Lake LBJ, we’re here to guide you every step of the way.
Reach out to us at LandMasters Real Estate, and let’s talk about what’s really possible. We’ll give you the facts, the local insight, and the strategy to make your move with confidence.
Reach out to us at LandMasters Real Estate, and let’s talk about what’s really possible. We’ll give you the facts, the local insight, and the strategy to make your move with confidence.
