{"id":2255,"date":"2021-12-02T13:24:13","date_gmt":"2021-12-02T13:24:13","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=2255"},"modified":"2021-12-02T13:24:13","modified_gmt":"2021-12-02T13:24:13","slug":"tips-single-homebuyers-make-dream-reality","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/tips-single-homebuyers-make-dream-reality\/","title":{"rendered":"Tips for Single Homebuyers: How To Make Your Dream a Reality"},"content":{"rendered":"
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Tips for Single Homebuyers: How To Make Your Dream a Reality<\/p><\/div>\n

If you\u2019re living on your own and looking to buy<\/a> a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research<\/a> from Freddie Mac<\/em> shows 28% of all households (36.1 million) are sole-person, <\/strong>and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that\u2019s a trend that\u2019s expected to continue. According to Freddie Mac<\/em>:<\/p>\n

\u201cOur calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42% of the household growth will be contributed by sole-person households<\/strong>, . . .\u201d<\/em><\/p><\/blockquote>\n

If you fall into this category, here are three tips to help you achieve your homeownership<\/a> goals.<\/p>\n

1. Know Your Credit Score<\/strong><\/h4>\n

When you buy a home on your own, you have to qualify for your loan based solely on your own finances and credit history. Investopedia<\/em> says<\/a>:<\/p>\n

\u201c. . . lenders will be looking at just one credit profile: yours<\/strong>. Needless to say, it has to be in great shape. It is always a good idea to review your credit report beforehand<\/strong>, and this is especially true of solo buyers.\u201d<\/em><\/p><\/blockquote>\n

It\u2019s important to find out your score so you know where it falls. If you\u2019re not sure if it\u2019s strong enough or where to focus your energy to improve it, meet with a professional for expert advice on your individual situation.<\/p>\n

2. Explore Down Payment Options<\/strong><\/h4>\n

Next, look into down payment<\/a> programs so you can get a feel for what you\u2019ll need to save to buy a home<\/a>. Rob Chrane, CEO of Down Payment Resource<\/em>, explains<\/a>:<\/p>\n

\u201cBuyers should discuss their program options with their loan officer and real estate agent to make sure they choose the program best suited to their personal needs.\u201d<\/em><\/p><\/blockquote>\n

In this step, lean on the pros to determine what you\u2019re eligible<\/a> for and what\u2019s right for you<\/a>.<\/p>\n

3. Think About Your Future Home and Your Needs<\/strong><\/h4>\n

You should also spend time thinking about what you want. What type<\/a> of home do you picture yourself in? To answer that question, Quicken Loans<\/em> shares this advice<\/a>:<\/p>\n

\u201cThink about your lifestyle, what you want out of your home and your needs<\/strong>. Is being close to work important? Do you need a lot of yard space? Do you want an extra bedroom that you can transform into a home office? Condo or detached home? Lots of space for entertaining? It\u2019s all up to you (and your budget<\/strong>).\u201d<\/em><\/p><\/blockquote>\n

Again, a professional can help you balance what you want and how much you should spend on your monthly housing costs to determine what type of home is right for you.<\/p>\n

While buying a home solo can feel like a big challenge, it doesn\u2019t have to be. If you lean on the professionals, they can help you navigate these waters and make sure you\u2019re able to take advantage of the great opportunities in today\u2019s housing market (like low mortgage rates<\/a>) to buy your dream home.<\/p>\n

Bottom Line<\/strong><\/h3>\n

The share of sole-person households is growing. If you\u2019re looking to buy a home on your own, be confident that the dream is achievable. When you\u2019re ready to begin your search, let\u2019s connect so you have expert advice each step of the way.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.<\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Finish Reading Tips for Single Homebuyers: How To Make Your Dream a Reality<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[196,38,411,227,15,44,43,268,10,18,16,27,91,86,52,9,49,42,23,40,63,20,48,47,19,327,328,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2255"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=2255"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2255\/revisions"}],"predecessor-version":[{"id":2257,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/2255\/revisions\/2257"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=2255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=2255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=2255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}