GUIDE FOR SINGLE FEMALE HOME BUYERS
In today’s times, single female buyers are independently seeking homes for ownership. They do not require the help of a partner to share the burden of mortgage loans. If you are a single female and thinking about investing in a residential property of your own, you need to pay heed to the following tips:
- Check the mortgage amount
Even if you have pre-approval for a big loan to buy a house which belongs to the upper range of your budget, you should think twice before taking the loan. The reason is that you have a single income which you need to allocate in different ways. Only if the mortgage amount is one which you are comfortable in paying while preparing for contingencies, you should go for the loan otherwise it can affect your lifestyle and reduce put you in credit trouble.
- Keep the future in mind
Buying a home is a significant decision of your life so you need to have a long term perspective. At present you may have children to take care of so you may require extra space. However, in the future your children are more likely to go their own way. Then you will be left with a lot of empty space. The house will no longer suit your requirements. It is a god idea to plan ahead and buy a house which can work for you even when you get older and need to stay alone.
- Save first
Before starting the search for a home of your own, you should ensure that you have enough savings for utilizing in making several monthly mortgage payments. This backup plan can help you to get debt free quicker and reduces the stress of having to count every penny to come up with the payments every month.
- Go for simple properties
Home buying is as it is a major investment. On top of this, if you go for a fancy home with all the works, you can destabilize your financial condition. It is better to start with a basic home with all the necessary amenities to get the property at a reasonable price. You can always upgrade it later by renovating it after dealing with the costs of moving and settling in.
Apart from these tips, you also need to consider the type of insurance cover for your property, compare the costs of renting and buying and choose the right buyer’s broker to get the best deal for the property of your choice.
Connecticut Real Estate & Investment helps single female buyers to find their dream home at the best prices in Connecticut
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Steve Schappert is Connecticut’s Home Buying Pro. Schappert is a buyer’s agent, a nationally recognized exclusive Connecticut Real Estate Broker and an award-winning Connecticut Home Improvement Contractor. Schappert is uniquely qualified to help you locate, negotiate and renovate your dream home or investment property.
“A Buyer’s agent represents the interests of the buyer in a real estate transaction. The Buyer’s agent’s responsibilities to the buyer are: undivided loyalty, obedience, diligence, disclosure, confidentiality, accounting, and reasonable skill and care. All duties are fiduciary — they are owed exclusively to the buyer – NOT to the seller.” – CT Dept. of Consumer Protection
A buyer’s agent can work for a traditional agency which can put you at risk. Traditional agencies take listings and promise to get the top price for the seller. If you don’t work with an exclusive Connecticut Real Estate Brokerage that Never takes listings, you will likely end up signing a dual agency agreement.
Connecticut Real Estate is an exclusive Connecticut Real Estate Brokerage. We NEVER have a conflict of interest with representation. Connecticut Real Estate never ever represents the seller. At Connecticut Real Estate & Investment our life doesn’t revolve around trying to get paid by both sides. You can’t promise to get the best deal for both sides in a transaction. Think about divorce attorneys representing both spouses. At our first meeting we promise to do our very best for you and nobody else. Throughout the transaction that never changes. You will never be asked to sign a dual agency agreement.
Hiring a Connecticut exclusive Connecticut Real Estate Broker is the best decision you will make regarding buying a home in Connecticut. When NBC, Kiplinger’s Financial, Woman’s Day Magazine, The New York Times, Real Estate For Dummies & The Learning Channel (TLC) wanted to learn more about buying real estate, they called Steve Schappert and you should too!
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