Maybe you always saw yourself getting married before buying a house. If you’re a single woman, here’s why it pays off to reimagine your future.
We all have a vision of how we expect our lives to unfold. If you’re a woman, you might have envisioned yourself falling in love, getting married, having children and buying a house. In an ideal world, it would all unfold in that order. However, things don’t always happen when we want them to happen but that shouldn’t stop us from building a strong financial future. If you’re waiting to get married before becoming a homeowner, you may be making a big mistake.
Married people are more likely to buy a house than single people, but single women make up 18 percent of homebuyers, according to the National Association of Realtors. If you’re single and have been contemplating homeownership, here’s why now might be the time to move forward.
You’re wasting money on rent. Every month that you write out a rent check, you’re lining the pockets of your landlord. However, when you are a homeowner, you build equity every time you make a mortgage payment. Wouldn’t you rather have your housing expenses go toward your financial freedom than making your landlord rich?
You can create another income stream. I’ve heard some single women say that they don’t want to buy a house right now because they’d rather spend their money doing other things, such as traveling. My response to that is why can’t you do both? In fact, homeownership can actually help you to reach other financial goals. I know many single women who bought a house and rented it out. That created an income stream that gave them more disposable cash that they could use toward travel and other things they wanted to do. Homeownership can put you in a stronger financial position, which can help you to achieve more in all areas of your life.
You can live your best life. Who says you can’t enjoy your own house as a single woman? Tamara, a homebuyer who worked with HomeFree-USA, said she was particularly happy to buy a house while she was still single. “If I get married that’s another part of my life where I’ll be living with someone so this is my moment,” she said. “I’m capitalizing on it and enjoying it 100 percent.”
You can better position your family. If you are a single mother, homeownership can give your children stability. They’ll have a place to call home no matter what. Even if you don’t have children, homeownership can still be a source of comfort for your family whether it’s your parents, siblings or other relatives.
You’ll be better prepared for the future. Maybe you are not married now but you plan to get married and have children at a later point. Buying a house now may put you in a better position later to do that. By strengthening your position today, you’ll secure more stability for generations to come.
Women have more collective power today than ever before. Whether you’re married or single, contact HomeFree-USA to get on the road to wealth today.