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Four tips for single ladies when buying their first property

by CamellaPublished: January 23, 2017Updated: January 27, 2017

Tips to allay fears when buying your first property, especially if you are single

Four tips for single ladies when buying their first property

Ever since, it has been a customary practice of Filipinos to wait for marriage before deciding to buy a house. According to National Association of Realtors (NAR), 67 percent of all homebuyers are married couples. Despite that, did you know that single women have been outpacing men in making real estate investments? In fact, this year’s report from NAR reveals that women are the second most common group of buyers following the married group.

Buying a home is barely easy for anyone. But navigating the home-buying process can be challenging especially for single buyers. But if you are a bold-hearted lass who is determined to buy her dream house, here are four simple yet helpful tips to guide you on your home-buying journey.

1. Take your time
Unlike purchasing small items, buying your own house and lot or condominium is not like shopping items from stores where you can return them once you found them defective. Needless to say, investing on your first real estate investment should not be rushed and must be given proper planning.

Research the type of property you want to purchase, its features, and more than anything else, the location of the property—all of these should complement your lifestyle. While you are at it, read news about the latest real estate trends. This can help you in making your decision. For instance, if you are torn about buying a condominium or house and lot, reading articles about this will help you come to a smart decision.

2. Consult experts
Even though you have nearly researched every detail about your real estate investment, it is still advisable for you to consult experienced and licensed real estate brokers. It stands to reason that they know better about the ins and outs of real estate industry.

For instance, they will help you with the paper works involved and help you determine what financial scheme suits you especially that you are a first-time homebuyer. With their assistance, they can give you professional advice and guidance throughout your home-buying process.

3. Be cost-conscious
You do not have to be rich to be able to buy a house; you just need to be financially practical. Stick within your budget and buy a property that falls within your income bracket. Even if you are sure that you will be earning more in the coming years, your expenses might probably increase as you go on in life due to new circumstances. Besides, expenses do not stop after you have moved in; in fact, it's just starting since you need to buy home essentials and pay other house maintenance entailed.

4. Keep saving money
You may have bought your dream house and feel contented with it but that does not mean you can finally stop saving money. Continue saving money for unexpected or emergency situations or worst you will end up selling your hard-earned property.

Young or not, buying your first property might feel a big leap for you, especially if you are currently single, which means you will be solely shouldering all the expenses and decision-making involved. However, this reality should not stop you from making long-term investments because there will surely come a time in your life that you will be making big decisions for yourself. Therefore, why wait when you can start early?


This article was contributed by Camella.


Main photo via Shutterstock

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