What Should Solo Homebuyers Consider?

Posted by Justin Havre on Tuesday, August 27th, 2019 at 3:53pm.

What to Know When You Buy a Home as a Solo HomeownerPeople buying homes in Calgary always get so fixated on buying a home that is perfect for you and your family. What if you do not have a family? What if you are a single individual living by yourself? There is certainly nothing wrong with living alone and there are some people who prefer it.

What Do Single Homebuyers Need to Think About

Here are a few things single homebuyers need to consider to have a successful real estate transaction.

Do Some Research

There is research to be done regardless of if you have a family or if you live on your own. If you live on your own, maybe there is a reason. You could be a person who does not like children. You also could be a person who just hasn't found your special someone. Either way, you are going to want to live in a certain kind of neighbourhood.

The Resale Value

You have to consider the resell value of the home before you purchase it. This is because there is always a chance you are going to meet someone and start a family one day. You need to make sure you would be able to sell it and move somewhere bigger if you decided to start a family.

Security

If you are going to be living by yourself, you are a target to intruders and home invaders. The unfortunate truth is that someone who lives alone is seen as a weaker target. They are going to come after you because they think they can overpower you. You just need to make sure you are moving into a neighbourhood where safety and security are a big deal.

Understand the Risks

The risks of owning a home by yourself shouldn't prevent you from making a purchase. You will be the only one responsible for your bills, so make sure that you have a budget that you can stick to every month. Look for ways to create a savings account that is used for any emergencies that arise when it comes to your property. When you find a property that you love, make sure that the neighborhood is safe if you are concerned about living alone. While buying a home by yourself has some risks, it is worth taking a chance at owning a property instead of paying rent to someone else.

Solo homebuyers are commonly overlooked, but anyone can buy a home including someone who is a single individual. You just need to make sure you are considering the right things if you are a single homebuyer, so you will be happy with the new home you purchase and move into.

Justin Havre is the top producing REALTOR® with RE/MAX First, Canada's very first RE/MAX brokerage. Calgary real estate is his passion; Justin specializes in Southwest & Northwest Calgary homes for sale. He can be reached at 403.217.0003 or contacted through this site.

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