The Real Estate market is seeing single individuals taking advantage of more affordable home prices, larger inventory, low interest rates and federal tax incentives.
Individuals, whom may have never considered buying a home before, are finding that they can afford more house for their money than in previous years. Most importantly, many people are recognizing that a mortgage payment on a house can actually be the same or less than what they might spend on rent.
You would also be surprised to find out that the single homebuyers are not looking for bachelor or bachelorette pads, yet are buying homes in suburban areas. In 2009, 21% of buyers were single females and 10% were single males.
Single individual homebuyers listed the following among their top desires when buying a home: modernized home updates and appliances, having a yard and outside space; over the desire of a space for entertaining.
So, if you are a single male or female, with the desire to purchase your own home, it is a reality that you can make your own. You might just find your mortgage payment being less than your current rent, thus have extra disposable monthly income.