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Buying A Home – Should You Wait Until You’re Married?

By Sarah P. Shimanski

If you’re still living the single life, chances are you’ve probably considered the option of buying a home. After graduating from school, most single individuals expend their efforts establishing their new found careers, ignoring the prospect of purchasing a home. While owning a home may seem attractive to many single individuals, most decide to pursue the option of home ownership when they get married within the next few years.

While this thinking may sound great at the onset, many singles become disappointed over time as their plans for a future marriage fail to come to fruition. As they continue to delay the process of getting into the real estate market, home prices continue to escalate. If these single persons had made a decision to purchase a home earlier, they could have taken the opportunity to sign up for a low interest refinance and paid less than what it would cost to rent. They also skipped out on some beneficial tax deductions and an option to build a substantial amount of equity.

Statistics reveal one out of seven homes in the United States is purchased by a single homeowner. Over half of those single homebuyers are women.

If you’re a single person renting, don’t fall into the same trap many a single renters do. Make buying a home one of your first priorities. If you can’t qualify for a property on your income alone, consider creative ownership options such as roommates, co-owning with family and friends, or finding a property with rental units. Let’s examine the benefits other single homebuyers have experienced as a result of owning their home:

1) Owning a home is an achievable goal completely within your control. Choosing marriage and starting a family can delay your goals of home ownership.

2) You can build greater courage from the process of studying how to buy a home, setting up a budget, and making whenever sacrifices are necessary to reach you goal.

3) When you own real estate, you receive great tax benefits and a great source of rental income if you decide to move of the property.

4) After spending time with a mortgage broker or realtor, many single homebuyers were amazed to find out that owning a piece of real estate wasn’t as outrageous as they thought.

5) Being up a homeowner offers a feeling of stability and a gathering place for your friends to come over.

6) Home ownership provides a valuable financial experience so you can branch off into other forms of investments such as IRAs and stocks.

As you live the single life, you can expand your financial experience by owning a home. Avoid the misconception of believing you should wait to buy a home when you’re married. Placing all your hopes on a future event may prove to be a bad decision.

If you want to view Fullerton homes for sale, then call these Fullerton Realtors to help you see one.

Article kindly provided by UberArticles.com

Topics: Real Estate FSBO | Comments Off

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Article Citation
MLA Style Citation:
Shimanski, Sarah P. "Buying A Home – Should You Wait Until You’re Married?." Buying A Home – Should You Wait Until You’re Married?. 2 Jul. 2010. uberarticles.com. 17 Feb 2016 <http://uberarticles.com/real-estate/real-estate-fsbo/buying-a-home-should-you-wait-until-youre-married/>.

APA Style Citation:
Shimanski, S (2010, July 2). Buying A Home – Should You Wait Until You’re Married?. Retrieved February 17, 2016, from http://uberarticles.com/real-estate/real-estate-fsbo/buying-a-home-should-you-wait-until-youre-married/

Chicago Style Citation:
Shimanski, Sarah P. "Buying A Home – Should You Wait Until You’re Married?" uberarticles.com. http://uberarticles.com/real-estate/real-estate-fsbo/buying-a-home-should-you-wait-until-youre-married/


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