Jason Gelios Michigan REALTOR®
  • HOME
  • MEDIA ROOM
    • AskJasonGelios Show
    • ON SOCIAL MEDIA
    • PRESS
    • JASON'S BLOG
    • HOMEOWNERS UPDATE
    • Jason's Books
    • PODCAST: AskJasonGelios Show
  • SELL
  • BUY
    • GET APPROVED
  • Connect With Jason Gelios
  • TESTIMONIALS
  • SENIORS

A Single Woman’s Guide to Buying a Home

7/2/2021

1 Comment

 
Guest Writer Amy Collett
Picture
Image Courtesy Of Pexels
The American dream is changing… and so are the Americans who are chasing it. While many Americans still strive for a two-story home on a quiet, tree-lined street, many don’t. A spouse, two kids, a dog, and a white, picket fence aren’t necessarily part of the dream anymore.
 
Much like other aspects of our country’s history, the home buying market has almost always been dominated by men. But times are changing. According to Bloomberg, single women homebuyers have been outpacing their single male counterparts since the 1980s. Experts aren’t surprised, as more women are becoming top earners in their family units and staying single longer.
 
While women are obviously equally capable of navigating their way through the process, females do have a different set of criteria they’re looking for in the perfect home. Check out the list below from an experienced real estate broker detailing the 11 things single females look for in a new home: 

  1. Budget - 3 out of 4 women spend less than $200,000.
  2. Rooms - Most prefer 2 bedrooms or more.
  3. Age of Property - They are less likely to choose new construction.
  4. Location - Most single women buy in the city over suburban areas.
  5. Will Compromise - Size and cost are negotiable in favor of other amenities.
  6. Will Not Compromise - Location and quality of neighborhood are non-negotiable.
  7. Size - Smaller spaces are acceptable.
  8. Maintenance - Likely to choose a condo with an HOA over a single-family home.
  9. Security - Most want security and/or gated access.
  10. Social - Single females want to engage and interact with neighbors.
  11. Proximity - Most prefer to be close to stores, shopping, and fitness centers.
 
Keeping these preferences in mind, there are a few things every single, female homebuyer should remember as she searches for her next home, starting with the fact that it’s a seller’s market right now.
 
Literally, that just means there are more buyers than sellers out there. Practically, that means you need to act fast once you find a property that checks all those boxes. There will likely be multiple offers, so you should also be prepared to offer listing price or above to increase your chances of winning the bidding war.
 
You may also want to adjust your budget to allow for some wiggle room. Once you figure out how much home you can afford, look at homes listed 10-20% lower than your top number. You should also look into whether “paying points” on your mortgage is a good idea; by paying points, you can help lower the interest rate on your mortgage (online calculators can help you with the points problem). Then, once you and your agent hit on that dream condo in the perfect neighborhood, you can afford to make an offer the seller can’t refuse.
 
Next, be prepared to spend a little more to move into your new home. You may need to supply earnest money in the form of a deposit to secure a home in a competitive market or allow the homeowners to remain in the home for several months after the sale until they purchase a new home of their own. (That means you’ll be paying for two places to live.) Many homeowners may also choose to sell homes without appliances. This may be a deal breaker for buyers who don’t have the cash to purchase appliances up front. If you do, however, it could open up more properties for you.
 
Finally, be patient, and don’t settle. In the $200,000 and under price range, competition will be particularly fierce. Oftentimes the struggle of looking at home after home, losing a home you loved to a higher bid, or not finding anything you like can lead to buyer frustration. Come to terms with the fact that it may take a while to find the right home at the right price. Wait it out. Even if you do fall victim to the seller’s market, the real estate market is cyclical. Eventually it will be a buyer’s market again, and the American dream will be yours.
 
When you’re ready to start searching for your new home, reach out to award-winning Realtor Jason Gelios.
You can contact Jason directly by calling 586-419-2231 or by clicking here. 


About the writer:
Amy Collett is the creator of Bizwell.org, a website that helps professionals and entrepreneurs build and strengthen their personal brand. She is also the author of the upcoming book,
You, Exemplified: The Role of Personal Branding in Your Professional Life. When she’s not busy with helping her clients she enjoys coaching her daughter’s soccer team and is training to become a yoga instructor.
1 Comment
Nina link
1/17/2022 10:46:56 pm

Thanks for sharing this guide, it sure will help a lot of people.

Reply

Your comment will be posted after it is approved.


Leave a Reply.


    Picture

    Author

    Jason Gelios is a  Husband and Father. After that, a Top Producing REALTOR®, Author of the books 'Think like a REALTOR®' and 'Beating The Force Of Average', Creator of The AskJasonGelios Real Estate Show and Expert Media Contributor to media outlets across the country.

    Jason is dedicated to providing real estate advice and education to home owners, buyers and sellers with content that is practical and based on real world situations.

    Archives

    June 2025
    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    May 2020
    April 2020
    March 2020
    February 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    April 2015

    Categories

    All

    RSS Feed

About Jason Gelios
For Buyers
For Sellers
Think Like a REALTOR® Real Estate book
Valuable Resources
AskJasonGelios Real Estate Show
Jason Gelios' Real Estate Blog​

In the press

Contact Jason Gelios
Copyright    All Rights Reserved 
Photos from wuestenigel, MarkMoz12, Spencer Means, Mrs Airwolfhound, r.nial.bradshaw, MarkMoz12
  • HOME
  • MEDIA ROOM
    • AskJasonGelios Show
    • ON SOCIAL MEDIA
    • PRESS
    • JASON'S BLOG
    • HOMEOWNERS UPDATE
    • Jason's Books
    • PODCAST: AskJasonGelios Show
  • SELL
  • BUY
    • GET APPROVED
  • Connect With Jason Gelios
  • TESTIMONIALS
  • SENIORS