Gone are the days where you meet your mate, marry, and buy a home. That's not the way it works any more. At least it shouldn't...
Most singles are renting apartments, or homes, and if home ownership has crossed their minds it was quickly dismissed by the thought, well I will wait until I have kids. This trend needs to stop, and statistically it is looking promising that it will.
More and more single men and women are empowering themselves and securing their future through the purchase of real estate. Real estate is the highest return possible in the investing world, and as such it is a lucrative venture.
It is a fact that comparable properties can be owned for far less of a monthly payment than they can be rented. So you save monthly by owning a home. PLUS many programs now allow you to purchase with nothing down and little out of pocket, but ask your Realtor for more details on those programs.
For example, all my military home buyers out there, you guys have the best possible chance of a high return. This is due to the fact that the VA Loan package is a superior loan product, and you have a commitment that guarantees you income for an extended amount of time.
But thats not even the only way to save, while simultaneously making money by owning real estate. Hey single guy, yeah you, I bet you have a buddy that would rent one of your rooms for at least half of your mortgage payment. That is still significantly less than what he is spending in rent, AND now you have someone else paying half your payment! So you save even more.
Real estate is essentially forced savings that appreciates more radically than any other commodity, because its a commodity we can't make any more of! (You better not cite the manmade islands of the world because we all know we aren't going to be spending millions buying one of those! C'mon! Be real!)
But even if thousands of dollars in savings and potential profit aren't enough to sway you, keep in mind that without dependents your Debt-To-Income Ratio is more favorable. This means that you could qualify for rock bottom interest rates, which translates to more house for the same monthly payment.
All-in-all, whether you have a family or not, buying a home is better financially than renting, hands down.
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