Guide For Single Male Home Buyers
In recent years, home buying patterns have undergone a significant change. Being practical and smart is the need of the hour. The fact that you are single does not affect your ability to buy a home for yourself. In fact, it is a trend which is catching up rapidly. If you are a single man looking for a property to invest in and live independently, here’s what you need to keep in mind:
- Think about responsibilities
The freedom that comes with living alone also brings with it certain responsibilities related to the maintenance of the property which you need to shoulder alone. If you are a person who does not like to deal with leaky faucets or lawn mowing, going for smaller houses with a lesser requirement of maintenance is a better option rather than choosing big homes with a lot of exterior space.
- Check the resale value of the property
You need to have a long term vision when it comes to property purchase. Factors like job changes or marriage need to be kept in mind during property selection. It is a good idea to go for homes which can be resold quickly when the time for moving comes. Homes which have good connectivity and are located in established neighborhoods generally have a high resale value. Another point which is related to this one is that you should not indulge in a big home initially because it can prove to be a major burden both financially and in terms of finding a buyer for it in the future.
- Keep an eye on your budget
Before closing a deal for a property that you like, think about the changes in the budget that you need to make to accommodate the extra expenditure on mortgage payments. Only if you have a stable source of income which can cover the cost of the mortgage and still leave you with enough money to take care of other requirements, you should go for the property. Selecting a flexible mortgage plan can also ease the situation considerably.
- Choose a safe and friendly neighborhood
If you are planning to buy a property for the long haul and want your kids to grow up in it, you need to select a location which is secure and has a low crime rate. It should also be located in a neighborhood with schools and parks in close proximity. The house needs to have one or two spare rooms to accommodate your growing family in the future. Even if you don’t plan on having children now or ever you have to think about resale. Buying a home with an extra room, if you can afford it, is better than searching for a bigger home later and paying higher property prices.
Think about these points before contacting a Buyer’s agent to start the property search.
Connecticut Real Estate & Investment is available for helping single male buyers in Connecticut to find suitable homes.
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“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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