In the early 1990s, just a few years after moving to New York City, Brown Harris Stevens agent Louise Phillips Forbes bought her first apartment. Forbes has told Digital Journal that the purchase was a bold testament to her independence as a single woman and a personal recognition of self-worth.
For Forbes, the news about a recent U.S. national study that reveals that single women make up the second-largest category of homebuyers, only second to married couples, is an important one for both herself and her business.
More single-women are buying homes than single-men. One driver for this change is to do with women being more career-focused now than previous generations.
To help other, Forbes offers the following tips to Digital Journal readers to help women achieve homeownership:
Approach the search with a clean slate
Forbes recommends: “With a budget range in mind, allow yourself to enjoy the process without strict parameters of location or condition.”
Trust your intuition
Forbes advises: “The price alone should not inform the next steps of your decision.”
Fall in love at first sight
First impressions count, says Forbes, noting: “Allow brick-and-mortar to be second to the experience. You’ll know upon entering if this is your next home. See beyond the immediate conditions, knowing that renovations can be done in phases and as finances allow.”
There are many opportunities to clear debt. Forbes finds that in: “Today’s mortgage rates set the stage for creative opportunities. While working together with an agent or mortgage professional, explore an interest-only option and consider an unexpected bonus, tax refund, side gig, or income that can go towards an additional payments annually – somewhat of a self-amortizing discipline.”
Vulnerability is helpful
Forbes says there is nothing to be worried about when in comes to canvassing the opinions of others. She states: “Exercise your independence but welcome the opinions and expertise of others.”