Finding that perfect first home can be a long journey filled with joy and apprehension, and typically a journey that most make with their spouse or significant other – until now. Of course, the world of first-home buyers is still filled with lovely couples and newlyweds, but in a world where people are now holding out a little longer to settle down, it’s officially time to make room, and cater to, the single folks searching for their first home.

 

 singlebuyer
Are people waiting longer to get married AND buy their first home?

According to surveys done by the U.S. Census Bureau –

  • The median age for men and women to get married has increased significantly since 1970 and the change is most dramatic for women in their early 20s.
  • Only 40 percent of first-home buyers are married now, compared to 52 percent two decades ago.
  • Not only are people waiting longer to get married, but they are also waiting longer to buy starter homes. The typical first-time home buyer is now 33 years old compared to 30 years old in the later ‘80s.

 

It’s harder thasmall-highrentn ever to afford monthly rent.

Another reason that singles {there’s that dreaded term again} are abandoning their rentals and considering buying a home is that monthly rent is hitting an all-time high, forcing them to at least consider and do further research on the home buying option. Although they may not be ready to settle down and get hitched, they still desire a more stable living situation once they reach a certain age.

Tips-1Tips for Single Homebuyers

Stay within your budget. Buying a home on your own is a fantastic move and a great step toward your future. But it’s important to be sure that you choose a home that you can afford, even if there financial obstacles thrown your way. If you lose a job, health issues arise, or anything else happens that could affect your ability to cover the costs of your home, you must remember that you alone are responsible for those additional expenses, so don’t overextend yourself.

Consider a home’s maintenance and upkeep. Being the only person with a set of house keys also means that you are the only person responsible for dealing with maintenance and upkeep. If yard work is not your forte or if cleaning out the gutters sounds like your absolute worst nightmare, condominiums and townhomes or even smaller homes in new communities may require less maintenance and might be a better option.

Look out for your safety and security. Being a single homeowner may mean that your home is empty a lot of the time, so it is important to consider safety and security issues. Be sure to settle down in a low-crime neighborhood and that your home feels safe and secure.

Consider resale value and longevity. Just because you are single now doesn’t mean you are going to be single forever, of course. But it also means that your life allows for possible relocations and lifestyle changes. Therefore, it is important to consider the resale value of prospective homes during your search in the event that your life may take an unexpected and exciting turn.

Are you single and looking to buy a new home in paradise or as some like to call it, the Emerald Coast? Melissa Clements is ready to help you along the way and she knows how to help you find your perfect fit. Contact her today and get one step closer to your dream of becoming a homeowner!