In case you missed it, single women are twice as likely as single men to buy a home, according to a recently published story in The Street.
The real estate firm Orchard of Americans recently surveyed singles and unmarried couples in romantic partnerships and here are the fascinating results:
These are impressive results considering that 50 years ago, if a single woman managed to pull off buying a new home, the mortgage papers referred to her as “spinster.”
Here are some homebuying tips from real estate experts for single Americans:
Buying a home as a one-person household generally means that you have less buying power since you don’t have a second person’s income. Taking a closer look at some starter homes may cut costs and get more single buyers and unmarried couples into home ownership.
“Many single buyers are opting for the condominium lifestyle,” said Shahn Douglas, chief marketing officer for DK Las Vegas, which owns Juhl, the modern, loft-style high-rise condominium community in downtown Las Vegas. “Condos are both an excellent investment and practical lifestyle choice for singles. Resort-style, low-maintenance condo communities like Juhl with amenities such as a state-of-the-art fitness center, luxurious pool, 24/7 concierge and electric car charging stations are ideal for singles of any age.”
Above all, experts advise: know your budget, stick to it and have a cushion – be sure to have a six-month rainy-day reserve for your mortgage payment. Plus, do your due diligence so you know what you’re getting into and to ensure you’re prepared for potential future costs.
For more information on the Las Vegas condominium lifestyle, visit the Juhl website or call 702.825.7129.