Single and In The Market - Part 3

The Denninger Report  - by Gini Denninger

Next, if not already decided, choose an area to buy in and find a Realtor to assist with the search and to coordinate the buying process. It’s important to be realistic. One income versus two, may place limitations on the buyer that a couple may not face. Buyers must be realistic as to what they can afford and that they might not be able to afford the area or type house that they desire. If the buyer has children, then schools are part of the equation, influencing where to buy. Buyers must be open to affordable alternatives suggested by their Realtor and not assume their agent is just “trying to get a sale and a quick buck.” Good Realtors work on building relationships with their clients. They want clients to call them again the next time they move or refer others to them. Short cuts just leave a bad taste in a client’s mouth.

As the buyer becomes familiar with the market they should be able to get information as to what costs can be once they own their own home. Some of this requires their own research and other questions a Realtor should be able top help with. A good Realtor will readily provide information regarding expenses through out the process. Costs that need to be considered are mortgage, utilities, taxes, deferred maintenance for the home being considered, future anticipated maintenance costs, and improvements/ upgrades a buyer may be planning. Knowing these numbers will help in making the right decision to buy or keep looking.

Buyers should remember to consider resale value down the road. An excellent Realtor will always try to point out barriers to resale, listen to what they have to say. Also, once a decision to buy is made, a Realtor should offer to do a CMA, (Comparative Market Analysis) for the home, as a guide to offering a realistic price.

The decision to buy may seem harder to come to for a single person, but the actual home buying process for singles is no different than it is for couples. Buying in today’s market is smart, single or not. It has advantages that last long into the future. Now is the time! Check it out!



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