Single Women Home Buyers

Single females continue to be a driving force in the housing market. In fact, according to the National Association of REALTORS® Profile of Home Buyers and Sellers, one-fourth of all first-time home buyers were single women.  Coldwell Banker^® has put together a few tips for women considering buying their first home:

Ladies First: Tips for first time, single female home-buyers

Get Your Finances In Order

First and foremost, check your credit history. Coldwell Banker Mortgage offers a complimentary credit check as will many local lenders. Make sure you pay your bills on time and have established a solid savings plan. You want to be on firm financial footing when you begin the home buying process especially since you will be funding the purchase on one income, and with lending institutions tightening their output. We recommend working with a local lending professional versus one you may find on the Internet. A local lender will be familiar with Vermont standards, practices, and real estate market conditions. Contact your bank or feel free to visit one of our mortgage partners.

Buy Within Reason

Have a good idea of what you willing, or not willing, to do with a home. Determine whether you want a house that is move-in ready, or whether you want “the handyman special.” If you decide to take the do-it-yourself route, be sure to establish a separate budget for that process so you stay on top of both the mortgage and renovation costs.

Work with a Reliable Real Estate Sales Associate

Buying a home is likely the largest transaction you will ever make. When you are buying on your own, be sure to surround yourself with a team of professionals who will help you navigate through the process. An established real estate sales associate can coordinate information from beginning to end and help identify the professionals you will need (inspectors, lawyers, contractors) to make the experience is as smooth as possible.