How Singles Should Approach Buying A New Home

There’s a misconception in our society – homeownership is only meant for families and married couples. Well, this is quite wrong! Marriage isn’t a requirement for homeownership. With the current rates and programs available, as well as the ability to utilize gift funds for downpayment money, purchasing a home when single is within reach for more and more people.

Data points from the U.S. Census Bureau point out that over 38 percent of U.S. homeowners are single. If you are single & have ever wondered if purchasing a home was feasible without a partner or spouse, All California Lending is here to tell you that it is! Our independent mortgage brokers in Concord CA are here to make your dream for homeownership a reality. Listed below are 2 vital steps singles can consider during their home buying process.

Choose a real estate agent who understand your needs:

An important step in the home buying process is choosing a realtor who comprehends your wants & needs. Moreover, they should have the essential connections to get you into a great home.

Not all realtors are equal. So, ask family and friends for referrals, and then compare agents online. Once you’ve shortlisted 2 or 3 agents, interview them. You cannot know how good an agent is until you talk to them face to face.

Identify what you want & need from a house:

When you are looking for homes, you will be enticed by all sorts of bells & whistles. Understanding what you actually want & need from a home is critical. Include the below mentioned details in your list of must-haves & nice-to-haves:

Home size: Are you planning to purchase home for present needs alone, or with room to grow? You will require less room if buying for one person. If you wish to purchase for the future, which might include a family, you will have to think about larger home options.

Resale value: Is resale value important for you? Even if you don’t want kids, you may still wish to purchase in an area with a good school district due to future resale value. Oryou may want to buy a house in a region with a denser population of single people. Whatever the case, your real estate agent will direct you to these regions as you commence your home hunting.

Your status as a single person won’t impact your loan qualification requirements. Lenders cannot reject you a loan because you’re unmarried. Give us a call today so we can show you the financing options available.

If you are a single and looking to buy a home, feel free to talk to our Independent Mortgage Broker in Concord CA. All California Lending is ready to assist you every step of the way.