Camelot Moving and Storage located in Santa Clarita, CA offers local and long-distance moves, commercial relocations, and local storage

Tips For Buying Real Estate As A Single Woman

Tips For Buying Real Estate As A Single Woman

Contributed to the March 2013 edition of Camelot’s House and Home News by Kim Thomson of Keller Williams VIP Properties.

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Photo credit: saltlakerealestatecafe.com

tips-for-single-ladies-and-real-estate

All The Single Ladies…if you are thinking of buying real estate this could be your year.

While the real estate market may seem to be dominated by families looking for a large home, today’s market allows for a diversity of buyers and sellers in various circumstances, including individuals with a moderate income looking to own a home.

Recently a single woman seeking to take advantage of low interest rates and to avoid rising rent costs approached me for real estate tips. In her thirties, earning a moderate income as a teacher, and with a responsible credit history, our inquiring buyer provides a good model for many other potential buyers, so let’s review the tips I suggested to her:

  • Know your numbers! Talk to a lender and your tax accountant.

 

Have the lender go over the different lender programs available. For example, there is a program available just for teachers. This program may or may not work well for our young, single teacher, depending on the particular fees and rates. Nonetheless, she should review it as an option, and a lender can help her navigate through her various options.

Once you know which program is right for you, look at the numbers. How much do you pay in rent versus how much will you pay for a mortgage and HOA? Next, talk to your tax accountant. How much money are you going to save by deducting your mortgage interest?

With those numbers clearly laid out, most contemplating buyers find that buying a home will be more cost effective.

  • Explore your options! With an experienced Realtor as your guide, find and purchase your new home!

 

So with the help of your lender and tax consultant, you have determined your loan program and price range. Time to contact a Realtor!

Experienced Realtors can help you find the right home that will allow you to comfortably get your foot into the real estate door, so to speak. Plan to use your first home to gain equity and buy bigger later.

Prices are rising, and they will continue to rise the longer you wait, potentially pricing you out of the market. However, once you buy a home, your real estate investment will increase in value, and at a better rate than your other investments.

Buying your first home is big, exciting decision. The more you know, the less stress there will be. Please feel free to contact me for more helpful advice, no matter where you are in your journey to buying your first home!

Kim Thomson

Keller Williams VIP Properties

CMA Member, CDPE Certified

DRE # 01312624

Office: 661-263-0441

Cell: 661-904-0449

Fax: 661-244-4423

www.SantaClaritaHomesForSale.com

www.SantaClaritaRealEstateBuzz.com

www.KimThomsonTeam.com

www.SantaClaritaRelocationServices.com


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