SINGLES ONLY: Are You A Solo Homebuyer? A Lengthy Read But You Should Capture At Least The 7 Smart Strategies


Solo homebuyer? You're not alone – MSN Real Estate

7 smart strategies

  1. Get a grip on your finances. What you can borrow and what you can afford are two different things. Before buying, understand your expenses in detail. You may want to get a financial planner to help you know how much you can safely spend. Do this before shopping, so you won't fall in love with a home you can't afford. Be transparent about finances with your real-estate agent and lender so they can help you avoid taking on too much debt.
  2. Come in under budget. Since single buyers have fewer financial backstops, it's smart to buy a home priced below what you can afford, so you'll have a comfortable cushion.
  3. Find an agent you really trust. Your agent may become your mother confessor, father figure and financial adviser. Get referrals from your network and spend time interviewing candidates. Don't hire anyone you don't really like and trust.
  4. Get backup. Enlist a trusted family member or friend to be your homebuying partner. This will go miles toward giving you the confidence you need to make a good decision.
  5. Stay flexible. Be willing to exchange dreams for reality. You may need to let go of your fantasy home or neighborhood and buy a smaller home now, trading up later.
  6. Be ready to bail. You may not be as ready to buy as you'd imagined. Pull out if you feel pressure or can't decide, then set a savings goal and a timeline for buying later. 
  7. Get a roommate. Single buyers often bring in a roommate to help cover costs, says Sissy Lappin, an independent real-estate agent in Houston. "Rents are so high that many times the roommate almost covers the mortgage payment," she says.



0 Responses to “SINGLES ONLY: Are You A Solo Homebuyer? A Lengthy Read But You Should Capture At Least The 7 Smart Strategies”

  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


%d bloggers like this: