Real estate is one of the most secure financial investments so it is the best bet to invest your money in. You also get home ownership rights and create an asset that adds to your wealth portfolio. The new generation believes in being financially independent before trying to settle down, so you have more people staying single for a longer time. Single home buyers are no different from couples but they need to consider a few more things before making a property investment. The first thing they have to focus on is their financial capacity and the resale values of their property keeping in mind the job transfer and matrimony which requires relocation.
The number of single woman home buyers has increased in the past years as compared to men. According to a survey done in 2014 first time home buyers are more likely to be single females as compared to males.
Here are a few tips especially for the first-time single home buyers
If you are a first time home buyer consider what your pocket can afford. If taking a loan opt for some advice and take financial help which keeps you within your comfort zone. Avoid over borrowing; set your upper limit.
Choose the right location where you have basic facilities at hand or at a walking distance. Stay close to friends or relatives.
Look out for safety and security. Make sure you choose a low crime area and try to live in gated societies which have proper security. So you don’t have to think about any foul play when you are at home or out.
Consider resale value and longevity. Buying a home is a great long-term investment. You may want to relocate later so it is important to think about the resale value.
Also keep in mind that you may not be single in the future. Have an additional bedroom or extra space which will only benefit in future.
The modern societies come with all facilities and amenities. So keep your neighbourhood, location and connectivity in mind before buying a home. Singe women should also take care of the security measures the condo or apartment offers. It is of utmost importance. It is a smart move to buy a home big or small so buy wisely and remain ensconced in the comfort of your home, a place where you want to come back to.
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