Rand Country Blog • March 11, 2016

Tips for Single-Female Homebuyers

by Howard Hanna | Rand Realty

This Tuesday marked International Women’s Day, celebrating the achievements of women throughout the centuries. Because of this, we’re going to take the opportunity to discuss the growing presence single-female homebuyers have made in the current real-estate market. Over the last couple of years, more and more individuals in this demographic have been purchasing homes. According to a 2014 profile on homebuyers and sellers, done by the National Association of Realtors in 2015, single-women made up 16 percent of homebuyers, whereas single-male buyers constituted for only eight percent. It’s always exciting to read news of an emerging demographic in real estate, so we’ll take this time to provide some tips for single females who are thinking of buying a home.

Seeing as you’re going to be a single-income household, you must consider your finances before beginning your home search. You have to think about how much house you can afford, as well as paying for any repairs, renovations, taxes, and utility bills. By having an understanding of your budget, you won’t have to waste time looking at homes you won’t be able to pay for. Searching for a house requires a lot of time, so you certainly don’t want to use any of it looking at homes that won’t meet your financial requirements.

When searching for a new home, you have to make sure the community is safe. Maybe look into a property that’s part of a town with a neighborhood-watch program or in a gated residential area. As you do this, drive through the neighborhoods both at day and night so you can get an idea of what the area is like at these times. When looking at different neighborhoods, check to see how residents interact. If you see they are friendly towards one another and express a strong sense of support for each other, you know you’ll have a better chance at being safe in that neighborhood because the residents are outgoing and active.

If you’re a commuter who uses public transportation, not only should you make sure your new home will have a convenient route to where you need to go, but you should also see that it’s safe. When you can, ask a friend to accompany you as you test some of the area’s transportation to get a feel for the atmosphere on the train, bus, or whatever other mode of public transportation you may take. As you exit the train, bus, etc., take note of the amount of people who leave with you. Typically, the more people who get off at your stop, the safer your destination point will be because of how many others will be around you. It’s important to have your commuting route be every bit as safe as it is convenient.

Speaking of safety, it will also benefit you to get an alarm system. Even if your neighborhood is safe, some home security will provide you with peace of mind. Security systems are a wonderful feature for any house, and some extra safety can go a long way. Given how tech-savvy homes have become over the years, such a system won’t only protect your house against intruders, but will also offer video surveillance that will keep a very close eye on your house when you’re not at home. A security system such as that sounds too good to pass up.

As you look for a home, you should also do what you can to avoid unfair treatment by professionals, so whether you’re hiring a landscaper, a contractor, a plumber, or anyone else, make sure to seek out an expert in order to have someone with the best skills possible who will offer the right price. Being a single homebuyer, you have to make sure you stay on top of everything during the process. Whenever you hire someone to work on your home, it will benefit you to ask them for the contact information of some their former clients so you can reach out to them and ask for their opinions on the person’s work.

If you like to involve yourself in do-it-yourself projects, it may also help you to increase your skills in areas such as electrical, carpentry, and plumbing, which are offered at many vocational schools and community colleges. As a first-time homebuyer, it will help to know as much as you can about how to upkeep your home in order to have it in proper working order. Despite being in a new home, there are some things you may have to fix, and having these home skills at your disposal will certainly make your transition into a new home fairly easier.

You must realize that confidence is key, and you should use that confidence when you approach the housing market. Remember, single females is a growing demographic in real estate, so this is a great time to have your voice and opinions heard as to what you like best when you search for a home. As you begin to look around, know what you want and go for it. This is an exciting part of your life as you plan to invest in a property you love, so work hard and have fun with it.

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