Home Add to Favorite Contact Submit  
             23 October, 2019
 

    
Category:  Articles » Real Estate » Home Buyers

 

More Singles Are Buying Homes

Popularity:
         Views: 1471
2006-12-04 00:43:50     
Article by J Harris

It used to be that both men and women waited to become first-time homebuyers until they married. They rented or lived at home with parents until Mr. or Ms. Right was found.

Today, according to the National Association of Realtors, one in every four home real estate purchases are made by singles, with single women outnumbering the men by two-to-one. The cause is thought to be that many single men in their 20s or early 30s continue to live with their parents until marriage, while single women are more apt to move into rental real estate with friends after college. Additionally, women are marrying later in life, attaining higher educational degrees, and spending more time to establish their careers. This provides them more available financial resources to purchase their own real estate and move into a place of their own.

My daughter did this in her early 30s. A successful web designer in West Palm Beach, Florida, she decided that she was wasting her money renting and wanted something that was hers. As with most single renters, she purchased a condo (townhouses are another good alternative for previous apartment dwellers). Though it was a big step and a huge commitment, she has a sense of security, satisfaction and accomplishment that cannot be found through renting.

Some Benefits of Renting

After renting for several years, many singles become frustrated with their dollars going into someone else’s pockets with nothing to show for it. They dislike not being able to decorate as they wish or sharing space with roommates.

For some locations and personal situations, however, renting may be the best and cheapest alternative. You do not pay for repairs, maintenance or property taxes. You have more flexibility to move when you wish, without being concerned with first selling your real estate. So, if you are considering buying residential real estate, compare your options carefully before making a commitment.

Homeownership Benefits Are Many

Owners of real estate attain many benefits. There are numerous real estate deductions at tax time on both federal and state income taxes, especially if you purchased your home real estate within the tax year. (See my article at this web site, titled “Real Estate Tax Breaks for Your Home” for more benefits of homeownership.) Because it is your home, you can make more permanent changes through renovations and decorating. Additionally, your investment generally increases in value and you accumulate equity that can be borrowed against in the future for necessities, such as the purchase of a car or that vacation of which you always dreamed.

Though buying real estate before marriage is a big commitment, more and more singles are doing just that and finding the move much more rewarding than renting.

Specialized in: Chula Vista - Carlsbad - Encinitas - Del Mar - Poway - San Diego Real Estate - San Diego - Homes For Sale - Realtor - Escondido - Oceanside - Prudential California - San Diego Homes
URL: http://www.twtrealestate.com
Print article      Bookmark this page
Related Articles 
How to sell a house to acquire fund for your retirement (Popularity: ): A number of individuals who are retired or are near retirement view their properties as a major spring of funds for their retirement & call them as nest eggs. There are 2 principal methods of employing one's house for this intention; either by the means of a reverse mortgage program, or by sell my house fast. In this editorial, we will discuss on How to sell a house to acquire ...
How to Do a Short Sale With Real Estate (Popularity: ): Are you "upside down" with your real estate investment? Or to put it another way, are the outstanding loans on your property greater than what you could get if you sold the house or property in today's real estate market? If you are in such a situation it is possible to make a "short sale" and cut your loses before they grow bigger. Here is a step-by-step guide to making ...
Real Estate Purchase Contracts - Be Cautious About Delayed Possession (Popularity: ): Possession is the last action in the process of buying real estate, where the buyer gets control of the home that has been bought. At closing, the keys are given to the buyer and the seller will no longer have a legal right to be in the home. This is an important event and its significance and implications are often overlooked.In some cases a seller will ask for permission to ...
8 Real Estate Negotiation Tips (Popularity: ): When buying a real estate investment:1. Check if the seller is motivated to sell the propertyIn real estate investing, dealing with someone who does not really want to sell their property is a waste of time - you should forget about them and move on, no matter how promising the deal might look like. How to check the seller's motivation level? It's relatively simple: try to make an appointment. If ...
Get Credit Aid For Real Estate Purchases! (Popularity: ): Eliminating Some Myths It is believed that paying off credit card debt improves credit score, that closing accounts improves credit score and that it’s impossible to get finance to purchase a property without having a proper financial and credit situation.But interestingly facts are that paying off your credit cards bluntly can lower your credit score, closing credit accounts also lowers your credit score, and you don't really need perfect credit ...


Related Business 
Bachelor Recipes (Popularity: ): Bachelors and singles who stay away from their home or are far away from their home country have the biggest trouble of cooking. Bachelor Recipes bring to them some quick and easy recipes which they can try themselves and curb daily hunger needs in minutes. These recipes are very quick to make which saves their time and they can avoid eating food from outside. The recipes chosen are a mix ...
Homes For Sale Orlando (Popularity: ): Find homes for sale in Orlando FL. Get Kissimmee property values and real estate information for buying and selling Windermere, Orange County homes, houses, condos, town homes, short sales and foreclosures for sale.
Condos Tri-Cities (Popularity: ): Find information on buying and selling homes with the help of residential senior real estate specialist in the Tri-City area. The homes sizes and styles vary and may be free standing, townhomes, condominiums or patio homes. Most all of these homes are maintained by a Homeowner’s Assocation so you have time to travel, golf or play.
Austin TX Homes For Sale (Popularity: ): Best Agents in Texas, is a real estate company that provides buying, selling, leasing and investment services to Austin and surrounding communities. If you're thinking about buying a new home in Austin, you've reached the right spot. Check out our site, view all homes for sale in the area and feel free to contact us or use our online chat to get your questions answered.
Cerco Homes (Popularity: ): Home buying can be a long and exhausting process, between searching through home listings, finding the right real estate professionals for you, and closing every step of the transaction. Cerco Homes is constantly developing ways to help make home buying easier for you by providing you up to date property listings, organizational tools and checklists that you can use while at the homes you are interested in, obtaining quick and ...
Greater Fort Worth New Home Builder, McBee Homes (Popularity: ): McBee Homes is a new home builder specializing in new home construction and build on your lot custom homes in the Greater Fort Worth area of Texas. McBee started in Fort Worth in 1978 and has now grown to 3500 homes located in Denton, Hood, Parker and Tarrant counties. McBee Communities are found in: Benbrook, Fort Worth, Saginaw, Haslet, Lake Worth, Aledo, Hudson Oaks, Weatherford, Granbury, Ponder, and Lakeside. McBee Homes is ...
Singles Cruise (Popularity: ): Join hundreds of other singles on an organized cruise w/private activities exclusively for singles.
Lombardo Homes (Popularity: ): Lombardo Homes is Michigan's largest builder of new construction homes. Founded nearly 50 years ago, Lombardo Homes established its reputation as a leader in home building excellence. In over 30 communities, the privately owned and operated family business continues to set the new home building industry pace by creating exceptional new construction homes with the utmost quality, anticipating consumer needs, and providing customers with a positive new home buying experience.
Homes for Sale in Columbia SC (Popularity: ): We are the trusted resource for HOMES FOR SALE IN COLUMBIA SC and can answer any questions about the home buying process. We use innovative marketing strategies to get exposure to potential home buyers looking for HOMES FOR SALE IN COLUMBIA SC. We get more Homes sold than most agents because of our vast knowledge of the local real estate market and expertise about HOMES FOR SALE IN COLUMBIA SC ...
Bremont Homes (Popularity: ): Builds new homes in developing markets and communities. Buying a home is an important decision. It’s probably the biggest investment you’ll ever make so you want it to be a good value right from the start. You want to be sure that the design suits your style.