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Yes, You Can Buy a House When You're Single-- Here's What to Look For

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 Yes, You Can Buy a House When You're Single-- Here's What to Look For

If you’re single, buying a home might be the last thing on your mind. After all, most people traditionally buy their first home after getting married. If children and long-term relationships aren’t in your near future, chance are, buying a home isn’t on your radar.

That’s starting to change, though—as of 2015, singles made up 20 percent of the home-buying market. Here are some things to consider if you decide to join their ranks:

  1. How much maintenance are you able to do on your own?

 

If you already know some of the basics of fixing up a home, then a house that requires upkeep could be to your advantage. You can purchase a home at a lower price and perform the upgrades yourself. However, if you don’t have those skills, you’ll need to hire a contractor for home maintenance. Keep in mind that you will be bearing the costs of the contractor on a single income. This could also work to your advantage—your REALTOR® can negotiate the cost of what needs to be done off the total purchase price of the house.

 

  1. Inspect the neighborhood.

For many couples, the most important thing about a neighborhood is the school district. As a single person, however, your concerns will be a bit different. Just as with any neighborhood, you want to look at the crime rates, taxes and how property values have fluctuated. As a single person, you may want to look more closely at the neighborhood’s proximity to your favorite hot spots, as well as how many events and activities go on in the area.

 

  1. Do you have a green thumb?

Yards can take up a lot of time. If you’re an avid gardener, this might be exactly what you want.  However, landscaping can eat up a lot of your free time, which may be a disadvantage to a young person with a full social life. Ask your REALTOR® to show you homes that don’t need much more than mowing if you’re not interested in extensive lawn care.

 

  1. What size fits your lifestyle?

If you’re an exceptionally social person, a house with large common areas could be ideal. You can host get-togethers with friends and family and not experience excessive crowding. However, take into consideration that you will also be the sole person responsible for keeping that large space clean. If you don’t have that sort of time or energy, have your REALTOR® seek out smaller houses.

 

All the benefits that homes provide—stability, long-term financial investment and a chance to establish yourself in the community—are just as accessible to the single person as they are to the married couple. Your needs may be different, so make sure you have a REALTOR® by your side to help you find the right home.

Homeownership! Building Communities One Dream at a Time. Visit www.IowaRealtors.com.