According to the National Association of Realtors, single female buyers accounted for double the amount of male buyers and the number of single women buying homes on their own continues to be increasing. And you’d be fascinated to know that single-women homebuyers actually look for something quite different than other homebuyers. So if you’re one of these women, keep in mind these tips prepared for you.
Determine what you want in a house. The most popular types of homes that single women purchase are condominiums and townhouses since they are generally more affordable than larger properties. Plus, they offer excellent amenities and security with lower maintenance costs. However, if you’re still young or you have plans to get married, you’ll need to consider your future needs, which means investing in a larger home is financially more promising than buying a condo or townhouse.
Develop a detailed financial strategy. Since you’ll be alone to spend and pay for your property, you’ll need to create a detailed financial strategy to assist you in your home purchase decision. It needs to be an assessment of your existing and potential financial worth, your financial and associated lifestyle goals, and whether your purchase will fit your financial capabilities. Your budget should cover the expenses in buying a house, which includes mortgage repayments, property taxes, household and utility bills, insurance premiums and maintenance costs.
Look for a private and secure environment. Most single women are likely to put privacy and security as their top two priorities when looking for a home. Hence, common conditions you want to have in your property and in the neighborhood are as follows: low crime rate, a house that comes with an alarm system, a well-fenced yard, secure doors and windows, and a garage attached and accessible from inside your house. This is also one reason why singe women like buying condos because they offer high level of security with underground parking.
Work with a reliable real estate agent. Similar to any other homebuyer, you’ll also need to work with a reliable real estate agent especially if buying a house is one of the largest transactions you will ever make in your life. A real estate agent will not only help make the home buying process a lot easier for you, they’ll also get the perfect home for single women like you.