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Mary is good at her job. This has never happened in human history. Young women are independently buying houses at a faster clip than young men, traditionally the wage-earners and house-buyers. This is as ificant as the first entrance of American women into the workforce after World War II. But all pioneers face pitfalls. Here, in a nutshell, is what single women house-buyers need to know:. Awareness of the big change you represent will help you deal with the bumps that come with any dramatic social upheaval, especially involving the relations of men and women. It can get confusing. The fact is, millennials are rejecting marriage along with all sorts of traditions, from antiques to fancy jewelry.
And you can add home ownership to that list. Millennials are buying fewer houses than generations, but millennial women seem to be bucking this trend. Women are better educated than men are now, University of Pennsylvania Professor Benjamin Keys, an Assistant Professor of Real Estate at the Wharton School of business, said in an interview for this column.
Women are starting businesses at a faster rate than men, too. Single woman entrepreneurs want a place to call their own for their personal and professional lives.
Whatever news pundits you listen to, in the real world, women are equally gifted but biologically different than men. A young single woman first-time home buyer has a tougher challenge if she goes house shopping, psychologists say, because women are under tremendous pressure to figure out their lives at a younger age.
Women have to figure out by their mids to mids if they want children, or not. And those choices will shape the ideal house. Millennials are flocking to cities and reviving the urban cores. The financing costs and fixed costs of buying and selling a house are too high otherwise. This puts you at an advantage. A lot of psychological studies indicate women are generally more interested in people. Men are more interested in things. Look at cheaper houses, he said.
Read our article on how to buy an affordable home. She runs marathons.
Mary also took in a boarder in a basement room. It can be daunting for a single woman to buy a house. And the wage gap means men in the real estate market can buy more house than women— Shop for the lowest-cost loan. Hundreds of lenders compete for your business online. Your realtor may suggest you line up a qualified guarantor for your mortgage, or buy a home with a co-buyer.Single Women Buying Homes
Pay off all your credit cards to reduce your income to debt ratio. This will make you a better mortgage applicant, and better able to handle the new roof and the other storms of home-ownership. Finally a bank or realtor may suggest you get home-ownership counseling.
These courses are a new trend. Taylor, M. March Yun, L. Patno, D. Retrieved from. Riggs, Erika.
September Vet the Neighborhood Before You Buy. First-time Homebuyer Trend for Meanwhile she is single and not currently seeing anyone. So, she bought a house on her own. Think hard about your future housing needs. Find a realtor and a neighborhood you can trust. Buy a Fixer-Upper, or learn to fix things. Shop around and negotiate for mortgage rates. Take a home-ownership course.
Learn how to save a downpayment in 1 year or less But first: take pride! So did the suffragettes who won the right to vote in How can that be? They are a majority of medical students nationwide make that future doctors. They are a majority of doctoral students in universities across all fields, including biology, public administration, and the social sciences.
Not if they can buy a house by themselves, without compromising on the quality of a mate. Anticipate Future Needs When Buying a Home Whatever news pundits you listen to, in the real world, women are equally gifted but biologically different than men. They call the men of our time Peter Pans for a reason.
Here are some of the things you should learn: Talk to neighbors about the neighborhood before you buy. Get the vibe. Visit at all hours, day and night. Look for crime data. The city will have information, and web sites like Trulia. Consider bringing a trusted friend along on the house hunt, or your uncle who can eyeball the old furnace. This is one of the most emotional decisions of your life, fraught with confusing information, realtor B. It helps to have another pair of eyes. Both were fun projects she shared with friends and family in proud iPhone pictures. You can, too. Can you afford lawn care?More single women buying homes
It worked for her. She used the extra money to pay off her mortgage in just a few years. Search Our Site Search for:. First-time Homebuyer Trend for December 14, HomeTrek All Rights Reserved.Buying a home single woman
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Buying a Home When You’re Female and Single