There are more and more people that are house hunting as a single home buyer these days and if you are one of them there are a few things that you should think about before heading out to do your home shopping. You'll want to keep maintenance issues in mind, budget your finances thoroughly and consider what the resale value of your home will be later on down the line.
If you're on your own you'll have to shoulder the maintenance of the new home on your own rather than dividing it up between 2 or more people. This is one of the main reasons why single people often choose a condominium or a townhouse to live in. With this type of housing the community association often takes care of the snow removal, landscape and the maintenance of the exterior for the homeowner. When you're out looking at homes keep in mind the various maintenance obligations you’ll have once you own the property and whether you'll have the time, energy and know-how to address them all properly.
Budget your finances
When there are 2 or more people that are purchasing a property, there is a bit more breathing room when it comes to budgeting the finances then there is when there is only one person doing it. With 2 people working the margin for error can be higher. If you are taking on a mortgage by yourself you'll need to be certain that you can cover the monthly payments along with all of the other costs that are associated with the home such as maintenance, taxes, repairs etc. You'll also want to have a good idea of the monthly utility payments you'll need to make and factor them into the equation.
Consider the future resale value
If you are a single person with a child, buying a large one-bedroom home that has a great living room and kitchen that would fit your family perfectly may not be the best when it comes to reselling it later. It's better to look at homes that have an extra bedroom even if it is left sitting empty while you are there, or converted into office space, so that it is easier to sell later on.
There are a lot of singles, both men and women, that are looking for homes in Calgary and don't want to stay in the rental market any longer. There are fantastic townhouses, condos and smaller single-family homes for sale in the city that are perfect for a single person either with children or without.