You don’t have to shop around for a mortgage

Another sad truth is that so many homebuyers out there won’t shop around for the best deal, and this is an important step to avoid if you’re about to make the biggest purchase of your life, right?

Comparison shopping might get you very far, such as getting the lowest rate available on a mortgage. Only this will automatically save you thousands of dollars in interest.

So when it comes to mortgages, we highly recommend you get an estimate from a minimum of three to four lenders before deciding on anything. Look for the most advantageous deal out there and take care of your savings.

Buying is much better than renting

This is probably the biggest homebuying myth, that renting is throwing money away, while buying is the best thing you can decide upon.

However, buying a home won’t automatically lead you to greater wealth. Based on your situation, renting might make more sense.