Real Est8 Myths Debunked

Advice is never in short supply when it comes to buying or selling a home in the UK - whether it’s from friends, family, or online forums. But not all guidance is grounded in fact. Misconceptions can lead to costly mistakes, wasted time, and unnecessary stress.

In this article, FG set the record straight on some of the most common property myths.

Myth 1: You Need a 20% Deposit to Buy a Home

The Reality: While a 20% deposit can unlock better mortgage rates, it’s far from a requirement. Many lenders offer mortgages with as little as a 5% deposit, particularly through schemes like the Government’s Mortgage Guarantee Scheme - ideal for first-time buyers. Shared ownership and Help to Buy (where available) can also ease the upfront financial load.

Bottom line: Don’t let the 20% myth hold you back. Speak to a mortgage adviser to explore your options based on your personal finances.

Myth 2: Spring Is the Only Time to Sell

The Reality: Spring may be popular, but it’s not the only window of opportunity. Autumn is increasingly active, with motivated buyers keen to move before Christmas. Even winter has its advantages - fewer listings mean less competition and more serious buyers.

Bottom line: The best time to sell is when your property is ready and your circumstances align - not just when the daffodils bloom.

Myth 3: You Should Always Start with a Low Offer

The Reality: In today’s competitive market, lowballing can do more harm than good. Many homes - especially in high-demand areas - sell at or above asking price. A significantly low offer might not be taken seriously and could cost you the property.

Bottom line: Make your offer based on local market data, the home’s condition, and your budget - not a one-size-fits-all tactic.

Myth 4: All Estate Agents Are the Same

The Reality: Estate agents differ widely in marketing reach, negotiation skills, and local knowledge. The right agent can make a significant difference in how quickly your home sells - and for how much.

Bottom line: Do your homework. Choose an agent with strong reviews, proven local expertise, and a clear, tailored sales strategy.

Myth 5: Online Valuation Tools Are Always Accurate

The Reality: Online tools can provide a ballpark figure, but they often miss key details - like recent renovations, unique features, or local market shifts. Many rely on outdated or incomplete data.

Bottom line: For a true picture of your home’s value, consult a local property expert who can assess it in person.

Myth 6: You Can Save Money by Selling Without an Agent

The Reality: While avoiding agent fees might seem appealing, it can lead to undervaluing your property, legal pitfalls, or limited market exposure. A skilled agent often secures a higher sale price - more than covering their fee.

Bottom line: Selling a home is more complex than it looks. Professional guidance can save you time, stress, and money.

Myth 7: Agents Will Inflate Prices to Win Your Listing

The Reality: Overpricing a property can seriously backfire. Homes listed above market value often linger unsold, leading to inevitable price reductions and a loss of buyer interest. This not only risks a lower final sale price but can also harm the seller’s credibility.

Experienced agents use reliable market data and comparable sales to recommend a price that attracts serious buyers from the start.

Bottom line: Strategic pricing is key. A well-priced home sells faster and often for more - without the need for damaging price cuts.

Myth 8: Agents Only Care About a Quick Sale and Their Commission

The Reality: While commission is part of the business, reputable agents are driven by client satisfaction and long-term success. Pushing for a quick sale at a low price benefits no one - and can damage an agent’s reputation.

Top-performing agents focus on achieving the best possible outcome for their clients, knowing that exceptional service leads to referrals and repeat business.

Bottom line: A trustworthy agent prioritises your goals - not just their paycheck.

Final Thoughts

The UK property market can be tricky to navigate, but separating fact from fiction puts you in a stronger position. Whether you're a first-time buyer or a seasoned seller, working with a knowledgeable estate agent helps you make confident, informed decisions.

Need expert advice tailored to your local market? Get in touch with our friendly team today. We’re here to guide you every step of the way - no myths, just honest answers.

This article is for informational purposes. Always seek professional advice before making any property decisions.