Tips for single homebuyers
January 30, 2015
Don't think buying a home means you need a spouse or children. It is becoming increasingly common that single men and women of all ages are looking to purchase a home. Whether you are relocating because of a new job, moving closer to family or simply need a change of pace, make sure you approach your move correctly. There are many mistakes that are easily made when shopping for a home, but these mistakes are easily avoidable as well. Just make sure you know what you are doing.
Approach your new home purchase with confidence.
Do your research
Whether you're moving to a new town or just down the block, there is still research that needs to be done. This is true when purchasing a condo or a small home. While condos and townhouses are favorable for single owners—as they don't have as much upkeep and come with heightened security—there are still costs and additional concerns to look into.
be sure to check all ratings and fees of a condo association. While you may hope to save money by purchasing a condo, fees might be higher than you originally thought depending on what amenities the building provides. There are also fees affiliated with a house that you might not think of at first. While the sticker cost may seem reasonable, be aware of the condition of the house and other fees associated with the home. The home might be in a historical district, or might belong to a neighborhood association. Additionally there may be street cleaning fees or other expenses that aren't part of the sticker price.
Location means everything when it comes to cost and safety. Additionally, the location of the home plays a big role in setting your home insurance quote. Make sure you are in an area you want to be in and paying what you want to pay. You can't do this by just walking around the neighborhood and picking out what you like. Instead, get on the Internet and hunt down the information you need, such as property taxes for the area, nearby school districts, crime rates and transportation accessibility.
Don't do it alone
Just because you are moving into your new place alone doesn't mean you have to hunt for it all by yourself. There are many resources available to you. Speak with a realtor about advantages to various parts of the city. Additionally, speak to co-workers or neighborhood associations. You can do this face to face or through social media networks. But the point is to get a human perspective on the location and the fees.
If you need some advice, have a friend join you for some home browsing, or send them links to places you like so far. Communication during the home purchasing process is key, as it keeps you in perspective. Don't get carried away with what a great window view a certain kitchen provides, or the large shower of another. Make sure the entire package is working for you, budget and all.
Whatever you decide to do, have confidence. It already takes a leap of confidence to decide to purchase a home, now have a little more and go through with it. Get everything you want out of the home or condo and pay no more than is realistic for your situation.
Moving into a new home is an exciting process, but don't rush through it. Take your time, do your research and don't put all the weight on your own shoulders. Your new home is out there waiting, be confident when you go and find it.