Singles Dive Into the Real Estate Market

Studies show single men and women (especially women) are diving into the real estate market. While most of the news has been bad (record foreclosures, innumerable bad loans), much has also been made of this cheerful fact: Single women have become a major force in the real estate market.

According to the National Association of Realtors, last year unmarried gals made up 20 percent of all home buyers, where single guys accounted for 12 percent.

Have you noticed the new trends that builders are coming up with to sell there homes? In new home construction, builders are putting in extras such as security features, gourmet kitchens and yards with little to no maintenance required.

For so long it used to be all about the location, however, it no longer appears to be “location, location, location.” It’s now “location, condition and price.”

Location
Obviously, location is still important. Try to buy in the best neighborhood you can afford. But also take your passions and hobbies into consideration before investing.

Condition
For many solo buyers, a property’s condition is of equal importance to its location.

Price
Where the rule of thumb used to be buy the most expensive house you can so that you can realize more of a return, nowadays you should carefully consider your monthly mortgage payment. Experts say it should not exceed 28 percent of your pre-tax monthly income. And stop thinking of a house as an investment and just think of it as a home (and perhaps also a tax write-off).

When trying to help your buyer find the perfect house, remember to try to find the reason why that person is looking for a new home.  Be sure to consider their future, some are starting out and may plan to start a family. Could they be looking at it has an investment later on down the road? How much upkeep is that buyer wanting to have?

Information for this post was provided by Jane Ganahi of SecondAct (an online destination uniquely tailored to the needs and interests of readers over age 40). Article posted by Today at NBC, click here to view the entire article.

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