Home Buying Pointers for Singles or Families with No Children
When you don’t have children, buying a home may seem easier now that you have fewer factors to consider (and expenses to worry about!). While this may be true in a sense, homebuying is never an easy process. There are still several factors to consider, mostly for your sake (and your partner’s, if you have one), but there are also many advantages that you can explore.
That said, here are some of the best homebuying tips that can help these singles and couples find the perfect home:
- Buy a smaller home
If you don’t plan to add children to your family children in the future, buying a large house won’t make much sense if you want to stay practical. A smaller home is often cheaper in any given location, and this can be attributed to the fact that there is less competition for houses that families with more than three members are avoiding.
A one-bedroom home may suffice; you can even consider a two-bedroom and covert the other room into a home office or a gym. But if you want a three-bedroom home, you may want to look in places that don’t tend to attract families with kids.
- Consider living on a busy street
Homes and condominium units on busy streets are typically cheaper because families with children—especially young ones—tend to avoid them. Living on such a street with young kids can often be dangerous and stressful. Plus, the noise is not ideal for families with young children and babies.
Although living on a busy street does have its disadvantages (e.g., noise, pollution, lack of privacy), it’s a great way to save a lot of money on housing. Furthermore, if you are a social butterfly, a busy street is ideal for taking a bigger part in the community, making friends with the neighbors, and immersing in the local culture.
- Avoid neighborhoods with ‘great schools’
For families with children, one of the first things they consider when looking for a home is the area’s school district. Neighborhoods with high-ranking schools tend to be expensive because there is a lot of demand from parents who want a good education for their children. In fact, it is common for there to be a wide disparity between neighborhoods with good and not-so-good school districts when it comes to home prices.
If you don’t have kids, it may be a good idea to avoid ‘good school’ neighborhoods and find a more affordable place to live. However, keep in mind that buying a house in an average (or below average) school district may also impact your ROI as well—unless, of course, if you live in the house forever.
- Shop during off-season
Many families with children avoid moving at or near the start and the end of the school year. During these times, you may find it easier to find the perfect house and get a good price for it with less competition around. In addition to that, you may also have an easier time finding a good moving company to work with since most will tend to have fewer bookings.
- Consider a townhouse or condo
Having no kids may not mean you don’t like kids, but living in a place without them can be ideal for your lifestyle. After all, who wants to be woken up in the middle of the night with an infant screaming at the neighbor’s house?
If you want to avoid having families with children as neighbors, consider buying a townhouse or a condo (but steer clear from the ones in great school districts). These types of housing tend to attract fewer families because they are not very kid-friendly in nature. Better yet, seek out an adults-only condo to ensure that you won’t have little ones as neighbors.
- Aim to move less frequently
Moving too often can increase your housing expenses by an unnecessarily huge amount (taxes, moving costs, real estate commissions, etc.). And since you don’t have kids, there won’t be any pressing need to move because of a growing family.
That said, aim to move less frequently. If you are unsure where to live yet or what type of house you want, rent instead of buy until you figure out what you want and save enough money for it.
Having no children provides advantages when it comes to buying a home. With these tips, the main benefit that you can get is to save money on housing—but other than that, you can also make the most out of this lifestyle.