Today, it's not that unusual for single parents to buy a house. While the process comes with challenges, there is also plenty of help available. In fact, buying a house as a single parent may give you access to programs that allow you to negotiate more favorable loan terms, receive grants designed just for single parent shoppers, or secure a loan with a lower down payment. It's good to remember that you're not alone. Your real estate agent should be a huge help throughout the process because they have more than likely helped other single parents who have been in your shoes as first-time buyers. 

Single Parent, New Home: Where to Start 

One of the first things our REALTORS® will tell any home buyer is that it's important to plan ahead. Understanding how much you have to spend, what type of neighborhood you're targeting, your must-haves for your home, and the aid programs available will simplify the process of buying a house as a single parent.

• Build a Budget – No matter who you are or what type of home you'd like to buy, building a budget is one of the most important steps in the process. A well-planned budget will help you understand how much you have available for a down payment, what type of mortgage payments you can afford, and what type of property will provide the best return on your real estate investment. It's also a good idea to look to the future, and consider how the progress of your career will impact your financial picture.
  
  
• Shopping for a the Right Neighborhood – As a single parent, you might want a neighborhood with safe streets, a great school system, and plenty of fun activities to keep your children busy. Shopping for the right neighborhood is such a huge part of finding a house you'll love, so consider planning scouting trips to see what your target neighborhoods have to offer. Scouting trips are also a great time to get the kids involved in the process.
  
  
• Setting Priorities – Every home buyer can benefit by making a list of priorities when shopping for a house. What are your must-haves, and where might you be willing to sacrifice a bit in order to get the right home for the right place? Setting priorities ahead of time makes it so much easier to find the right match.
  
  
• Researching Aid Programs – You're far from alone as a single parent shopping for a home, and there great programs available to help with the financial side of the purchase. FHA loans are absolutely worth a look, and there are quite a few grants designed specifically with single parents in mind. Research your options, and keep an eye out for programs that fit your situation.
  
  
• Asking for Advice – There are quite a few people you can turn to for advice as a single parent shopper, including your real estate agent, financial adviser, and family members who have recently shopped for a home of their own. You'll also find a large community of single parents who have successfully navigated the real estate market, and are happy to share what they learned with others.

When you're ready to find the right Ohio home for your family, our experienced real estate team is here to help. Contact Wright-Patt Realty to buy and sell homes in the Beavercreek, Ohio area.