Hiddenbrooke Homes--Tips for Single Home Buyers from Nicole Monary at Coldwell Banker- Today's housing environment has more single home buyers entering the real estate market than ever before. With inventory levels high, interest rates near record lows and affordability up in many areas across the country, many people who may have never considered buying a home in the past are recognizing that a mortgage payment on a house can actually be the same or less than what they would spend on renting an apartment or home.
For most people, buying a home is the most significant financial investment they will ever make, and perhaps even more so for singles who are making the transition on their own. With that in mind, Nicole Monary at Coldwell Banker Solano Pacific has come up with five tips to help single home buyers navigate the home buying process:
Keep an eye on the future. A family of one is much more likely to upsize rather than downsize. Some day someone who is single may add a significant other to their family and possibly even children. Though additional space may not be needed immediately, it's important to consider potential future plans for a home. Keep in mind that there is no such thing as the "perfect" house. Instead, determine what is essential - number of bedrooms, approximate square footage, neighborhood, etc. And when you do move up, your first home can provide you with equity to purchase your next home or it can be kept as an investment.
Get pre-approved for a mortgage. A pre-approval will let single home buyers know where they stand financially while informing the mortgage company that they are ready to buy. Additionally, this step will demonstrate to everyone involved in the purchase that the home buyer is serious and well qualified.
Location, location, location. The golden rule of real estate applies to single home buyers as well. A recent survey from Coldwell Banker Real Estate LLC found that out of 1,000 single homeowners more than half opted for homes in suburbia rather than bachelor or bachelorette pads in urban or rural areas. Factors such as proximity to work, family and nightlife often play a role in the decision of where to purchase a home. Speaking with Nicole Monary at Coldwell Banker Solano Pacific, can help narrow the search to find the location that best suits a home buyer's needs and lifestyle.
Plan ahead for maintenance fees. Owning a home is a rewarding experience. However, being the only person with a set of house keys also means being the only person responsible for maintenance. A leaky faucet and unkempt lawn won't take care of themselves, so be sure to include future repairs and maintenance in the budget. Also keep in mind that certain properties such as condominiums and townhomes require less exterior maintenance and might be a good option for those single home buyers who find the idea of maintaining a yard a bit daunting.
Consider resale value and longevity. Purchasing a home is a great long-term investment. However, there are many reasons single home buyers may need to move, such as relocating for a job or a lifestyle change. Therefore, it is important to think about the length of time that the home will be owned and also consider the resale value of prospective properties during the search. A local real estate agent can share the average home price of properties in the area, how long each property has been on the market and what features increase a home's value and appeal.
For more information on Hiddenbrooke homes for sale, please contact via phone, email or text. To see what's for sale throughout Hiddenbrooke, please visit my website at: www.soldbynicole.com and click on search the MLS. If you want to know how much your current Hiddenbrooke home is worth, click on CMA and I will happily provide you with a complimentary, no obligation, "Current Market Analysis" of your home. I also write a blog about market statistics for most of the bay area markets. Click here to view my blog: http://activerain.com/blogs/nicolemonary
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