Reality TV is not really reality!

Have you ever watched those house buying shows on TV? My wife watches occasionally and I will come in and see a bit and it drives me crazy! It is certainly not life as I know it. So if you came to buy a house, and I tell you you I will let you choose out of 3 homes, how would that go over? Or you tell me you have a maximum budget of $300,000, and I proceed to show a house priced at $395,000?

And while I am on that subject of reality, all the automatic house payment calculators out there which fail to include taxes, hazard insurance and mortgage insurance. Or the on-line house value estimators, yes Zillow I am talking about you, which many times are not even in the right ball park.

I found this graphic from the KCM Blog that compares some of the myths vs. reality.

Bottom Line: Reality TV may be entertaining, but it is not reality! (And online payments and values can give some background but ask a professional before you start making a decision.)