All my single ladies, all my single ladies.
Okay, so you’re probably wondering what in the heck I would know about what single ladies should be looking for when buying a home, but this young buck knows plenty about the topic!
You see, two of my best friends growing up were ladies (and still are because I love girl talk), and my mom raised me all on her own; over the years, I’ve gotten to know a little bit about what ladies are looking for.
So, let me tell you about it.
Here’s what you need to know about buying a home as a single lady:
You Shouldn’t Be Afraid To Do It On Your Own.
The simple fact us, you didn’t get to the point of being able to purchase a home without a lot of strength and determination. Don’t let purchasing a home intimidate you to the point where you are second guessing everything because you don’t know how to fix a bunch of things… a little secret you should know is: most guys don’t either.
Make YOU the top priority.
You don’t need to focus as much about what other people think and where you are going to be in 10 years. Life happens naturally so enjoy the experience and get what you want out of your house. Think about your interests, your ideal location, where you work and really just what makes you happy!
Don’t Worry About What Guys Will Think.
If you owning a house is going to intimidate a guy, chances are it isn’t going to last long. You’re driven and ambitious, and whoever you will meet should be on the same level as you or aspiring to be where you are. Guys that get a complex about their lady making more money than them or being further ahead are….well, they’re losers.
Don’t Bite Off More Than You Can Handle.
Getting financing from the bank only paints one part of the picture. It doesn’t account for your social life, so think about how you currently live and what it costs. If you are anything like me, you will still want to be eating at nice restaurants and having a few cocktails on a regular basis.
Try Getting A Place With Two Bedrooms.
This comes down to “two bird with one stone” logic. First, it’s great to have the ability to get rental income from a friend to subsidize your mortgage. Second, if you want to take a relationship to the next level and try living with your boyfriend, then you have a property which can prevent the two of you from killing each other right away and if you shack up with him then it is easier to rent out and cover payments on.
Parents tend to provide great advice (as annoying as it can be) and they can open your eyes to things you may not have thought about. Take their advice into consideration, and don’t be scared to ask them questions.
Location, Location, Location.
It’s better to have a smaller place in the area you really like as opposed to a bigger house in a poopy neighbourhood. Things like access to amenities, transit, proximity to work, and safety are really important factors that you’ll want to consider.
Have a Small Contingency Fund.
You don’t want to be putting every last penny you have into a property. Living on your own has new expenses that may take some time to adjust to, like getting groceries or going on impromptu vacations, and having some financial flexibility after you purchase is always a good thing.