In recent years, more and more single women are making the impressive move toward owning their own homes. After all, women have made a name for themselves in the workplace and are achieving higher salaried positions to accommodate the expenses associated with owning a house. So why shouldn’t they branch out into their own properties? If you are one of the single women that make up nearly 20 percent of all homebuyers, then you know exactly how hard you’ve worked to obtain this dream. Sure the process can be time-consuming, but in the end, it will be well worth the effort. Here are three simple steps that can help you finally purchase your well-deserved new home:
1. Complete A Financial Assessment
A new home comes with closing costs, a down payment, and home inspection fees which add up rather quickly. Beyond those typical new home expenses, you have to consider extra cleaning supplies, packing materials, and likely a few take-out meals for the period between homes. So before you ever sign the dotted lines, plan out your budget to prepare for all of the expenses. If you aren’t familiar with setting up your own budget plan, consider scheduling a meeting with a financial advisor. They can review all of the details of your finances and give you a good assessment of what you need to do to buy a home.
If you are in the process of divorce you should also review your assets for their monetary value as well as their long-term benefits. Things like land, inheritance, family heirlooms or sentimental gifts typically mean more to you than a dollar amount. Be sure you check your state laws to see where the boundaries are between separate property and marital property so that there is no added confusion between you and your former spouse during your move. Keep in mind that the more prepared your finances are, the smoother your buying process will be.
2. Determine Your Ideal Home
What does your ideal home look like? If you want a home that can be a long-term personal investment or a home that can be flipped to rental property as a business invents, make a note of that. In fact, make a list of at least seven attributes you absolutely want your new home to have and share the list with your realtor. For each house, your review, see if it has more than half of your preferences before you make a decision. It’s also important to compare home prices in the area where you’re looking to move. In greater Los Angeles, for example, the average cost to buy a home is $707,000.
Also, if you plan to live in your new house on your own at first, do a quick internet search of the community. Recent news releases, the city website, and local social media pages will give you a snapshot of the safety and overall feel of the area. You can even download smartphone safety apps that give you insight into the details of the neighborhood. Buying a home is a significant investment, so from the community location to general safety, you will want to make sure it meets all of the criteria on your list.
3. Plan Moving Day
Once you have a moving day in place, curb the chaos by creating a packing list that includes which items are fragile, which items need to be packed in a personal vehicle, and which essential items you need to pack in a suitcase for easy access. You might be surprised how relieving it feels to have everything you need to know compiled into one simple list.
To remove more of the moving burden, consider hiring professional movers. They have all of the necessary equipment and tools to make sure your items are scratch and dent-free. For those in the middle of a breakup, movers could also be a much-needed buffer between you and your ex. Unlike having friends help, movers can be an impartial third party who can relieve unnecessary tension during the move. After all the work you’ve put in to get you to this point, you deserve a relaxing moving day.
If you are a single woman looking to buy your own home, absolutely nothing should stand in your way. So take on the financial assessment, home search, and moving day the same way you’ve faced your career, with perseverance and skill. With the proper planning, home is just a few steps away.
