Get Real with Doug Robinson: 7 Tips for a Single Person Buying a Home

Buying a home is a worthy objective for a single person. It is also a significant accomplishment that involves planning, saving, and achieving a good credit score. It takes a bit more effort when you are the only source of income, so here are seven tips for the single woman interested in buying her first home.

Check Your Credit Report
Checking your credit report is the first step towards homeownership. Not only will you see your credit score, but you will also look at all accounts you have had over the years, including credit cards, student loans, and auto loans. You will also see late and on-time payments towards those accounts and accounts in collections (if you have any).
Fix Problem Accounts
Problem accounts will typically be in a separate section of the report so that you can find them easily. If you haven’t previously reviewed your report, you may be surprised by what could be there. Try to get any accounts up-to-date if they are legitimate and work to have incorrect information removed before applying for a mortgage.
Determine a Budget
Determining your budget is a crucial financial decision. You may pay less for a mortgage than your rental payment. However, you will also have property taxes, homeowners insurance, and potential repairs. Be realistic and work those costs into your budget before buying a home.
Get Pre-approved
After saving for your down payment, work with a mortgage company to get pre-approved for a loan. You will be better prepared to make an offer when you find your dream home. The sellers will also view your offer as more sincere and workable.
Research Locations and Neighborhoods
Finding a real estate agent with extensive knowledge about the neighborhoods in which you are interested is essential. You want to move to a safe neighborhood that is also affordable, and you want to have an experienced, reliable real estate agent to help you. I have been in Saline County for over 25 years and know the area extensively. Determine in advance the type of neighborhood you want. Are you looking for an area with an active singles scene? Or are you looking for someplace close to work?I have much experience working with first-time single home buyers. I make it a priority to answer all of your questions and will show you homes within your budget.
Check Everything Twice Before Closing
Once your offer has been accepted, we will prepare for closing the transaction. You will need a home inspection before closing. Read this report carefully and look for any potential issues that could lead to repairs. If you find any, we would ask that the sellers repair them as a condition to closing.Also, read your loan agreements closely. Be sure you understand every provision and ask me or your loan officer to clarify anything that may confuse you. Now is the time to get answers to any lingering questions.
Enjoy Your New Home
The last tip is the best. Enjoy your accomplishment and your new home.

Not all buyers are your typical married couple or nuclear family. Just because you’re on your own doesn’t mean you can’t achieve your dream of becoming a homeowner!

Thinking about buying or selling a home? I can help make the process easy, click here to get in touch today!

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