Buying a Home as a Single Woman

I put an offer in on a house yesterday and I am nervous. I probably shouldn’t be there is plenty of other grown up people doing the same thing, right? So why am I such an emotional mess about this whole process? 

Well mostly because I am going it alone. I don’t have a husband or a boyfriend who has mechanical ability to look at a house and tell me the furnace is too old or the foundation is a mess, or there is mold lurking behind the beautifully painted walls. No sir, it’s just me and I am pretty sure I am a home sellers dream. 

I have a hard time looking past all the lipstick they could have put on the pig they call their house. All I can say is “thank goodness for HGTV.”  Seriously, I know it sounds ridiculous, but watching all those home buying programs while home with the H1N1 really made me aware of what I need to look for while buying a home.  I do allow myself to be aware of how nicely a home is decorated. But I also take into consideration the things I can do to make it look pretty myself.  I am a woman for gosh sakes.  

It was a bumpy road, but I can’t complain. I was actually surprised how smoothly obtaining my financing went. But I had a good relationship with my banker, and I think that is a key portion of buying a home, being comfortable with the bank and knowing that they are looking out for you personally and not just trying to make an extra dime.  But be prepared, when it comes to financing, they do go over your financials with a fine tooth comb. Even more so with the financial markets the way they are and banks loosing so much money these past few years.  

As a single woman, I was afraid of looking for a home on my own. I went to my social networking sites, and asked my friends for advice. It really helped getting the opinions of others who already have been through the process, and I was surprised by their willingness to help.  

My process has been a learning experience and a little emotionally frustrating at times. I thought obtaining my financing was going to be the hard part, but then I learned that trying to look at homes and submit offers at the time that the home buyers credit was originally going to expire was next to impossible. Houses were coming off the market before I could even look at them, and when I was ready to offer, other offers were already sent, minutes before I could even put ink to paper.  Thank goodness they extended the credit, and hopefully the fervor will now subside a bit. 

Like I said, yesterday I was finally able to pen an offer for a small little rambler for myself and my children. I started with a low offer and hopefully I will hear something soon if they accepted or counter offered. Its funny how I thought there would be more of an immediate response, due my over indulgence in “House Hunters” on HGTV.  I am sure there will first be a counter offer and so on, and then the inspection is pending. There are already a few things that are a little worrisome, but nothing structurally. There are some windows that are a little old, and being a piece of 1950’s architecture, they may be expensive to replace, they don’t have a garbage disposal, which is needed as I do not want my children clogging the drains with their cheerios and a few other little items that may need tending to.  

Who knows, they may flat out refuse or be offended by my offer. Worst case scenario, I am back to looking and wondering if I know what the hell I am doing buying a home on my own, when I have no real mechanical skills to speak of. But I am lucky I have good friends to help and maybe they can teach me a thing or two.

All in all, in this economy, it has become very affordable for a single earner to purchase a home and in the long run I will be paying less for a mortgage and taxes, than I am in rent. 

So you single ladies, if you never thought you could afford it, get out there and see if it could work for you. You might be surprised to find that home ownership is not outside your reach.