Tips for Single Women in Buying a New Home

Tips for Single Women in Buying a New Home

Single women can achieve home ownership too.  And if you are a single woman who is buying a new home, you need some tips to help you make the right decision and buy with knowledge and confidence.

There are real fears encountered by women who will go into home ownership.  If you are one of these single women, and you will purchase your own house without a spouse or partner, then you might be facing these issues:

•    Will men find you unattractive if you have home equity?
•    Are men put off or intimidated with women who do not need them?
•    When you own your own home, will it decrease your chances of finding a partner because of the belief that couples should buy their home together?

Of course the answer to these questions is “no.”  However, it doesn’t mean that women don’t nurture these fears inside of them.

The Perfect Home

When buying a new home, maybe you have heard of the principle which says that “location, location, location” is very important.  But Jennifer Musselman (real estate book author) takes this a step further.  “Buyers should think about the future value of their chosen neighborhood.  Because what’s hot today may be different in 5 years,” she says.

To get a perfect home, you need to find financing, check your credit, understand FICO score, and hire a great realtor.  You should prepare for the purchase by putting together your separate list for needs and wants.  Moreover, have a list of “must haves” that should be found in your new home.

Also, buying a home heightens security concerns.  Personal safety should be foremost for women, and you should look for the perfect home in a peaceful and low-crime area.

The Meat of Buying a Home

Musselman further advised not to jump on a home immediately the moment you see it – you need to gather opinions, go back for an open house, and sleep on it.  But while this is a good strategy for her, most of the first-time buyers are finding it smarter if they act quickly or someone else might snatch the property away while they’re still thinking about it.

“I would imagine that buying a new home is pretty much the same as getting married.  Of course, the real difference is that you may come to a point where you need to transfer to a new home.  I’d say it’s not much different from trading your husband for a younger version,” says Elizabeth Weintraub.

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