| The days of women waiting for marriage to get | | | | costs are fixed. |
| their home with a little white picket fence are | | | | As a single woman, your home buying power |
| over. Nowadays women have more buying power | | | | rests completely on your income, and your credit |
| than ever, especially in the real estate market. In | | | | score and records. Do you know what your credit |
| fact, single women represented 22 percent of | | | | score is? Your credit score (referred to as your |
| home purchases (according to survey of National | | | | FICO score), is a numerical representation of your |
| Association of Realtors). | | | | credit risk. If you are not sure what your credit |
| Why the big shift towards single women buyers? | | | | score is, this is the perfect time to investigate. |
| In part, it is because women are focusing on their | | | | You may find that there are some problems with |
| careers and have strong individual earnings. These | | | | the credit score that you can easily clean up and |
| women are smart enough to know that owning | | | | improve your score. |
| real estate is the best way to build wealth. If you | | | | Do you know how much you can afford to spend |
| are single and debating whether you can afford to | | | | for a home or condominium? There is more to |
| own your own home, here are some factors that | | | | consider than just the how much your monthly |
| may prepare your for the big decision. | | | | payments will be. If you purchase a home, there |
| First, consider your rent situation compared to | | | | will be expenses for maintenance of the home |
| owning your own home. In Phoenix, real estate | | | | and property; many condominiums and |
| prices have increased, but there are still some | | | | developments require payment of monthly home |
| great deals to be found, especially as the market | | | | owner association dues. |
| slows down. Compare what you are currently | | | | As you prepare to purchase property, consider all |
| paying in rent with an average mortgage | | | | the costs associated with the property. In fact, |
| payment. | | | | you might ask a friend that owns similar property |
| Do not forget to factor in your yearly tax | | | | to give you an estimate of how much they spend |
| savings. While a mortgage payment may be more | | | | on a comparable property. |
| than rent, your yearly interest deduction can | | | | Buying a home is a big step, but it is something |
| more than make up for the difference in amount. | | | | you can do on your own. It is a step towards |
| Also, evaluate how much your rent may increase | | | | independence and financial security. |
| on a yearly basis. With a mortgage, your housing | | | | |