| It used to be that both men and women waited | | | | into someone else's pockets with nothing to |
| to become first-time homebuyers until they | | | | show for it. They dislike not being able to |
| married. They rented or lived at home with | | | | decorate as they wish or sharing space with |
| parents until Mr. or Ms. Right was found. | | | | roommates. |
| | | | |
| Today, according to the National Association | | | | For some locations and personal situations, |
| of Realtors, one in every four home real | | | | however, renting may be the best and cheapest |
| estate purchases are made by singles, with | | | | alternative. You do not pay for repairs, |
| single women outnumbering the men by | | | | maintenance or property taxes. You have more |
| two-to-one. The cause is thought to be that | | | | flexibility to move when you wish, without |
| many single men in their 20s or early 30s | | | | being concerned with first selling your real |
| continue to live with their parents until | | | | estate. So, if you are considering buying |
| marriage, while single women are more apt to | | | | residential real estate, compare your options |
| move into rental real estate with friends | | | | carefully before making a commitment. |
| after college. Additionally, women are | | | | |
| marrying later in life, attaining higher | | | | Homeownership Benefits Are Many |
| educational degrees, and spending more time | | | | |
| to establish their careers. This provides | | | | Owners of real estate attain many benefits. |
| them more available financial resources to | | | | There are numerous real estate deductions at |
| purchase their own real estate and move into | | | | tax time on both federal and state income |
| a place of their own. | | | | taxes, especially if you purchased your home |
| | | | real estate within the tax year. (See my |
| My daughter did this in her early 30s. A | | | | article at this web site, titled "Real Estate |
| successful web designer in West Palm Beach, | | | | Tax Breaks for Your Home" for more benefits |
| Florida, she decided that she was wasting her | | | | of homeownership.) Because it is your home, |
| money renting and wanted something that was | | | | you can make more permanent changes through |
| hers. As with most single renters, she | | | | renovations and decorating. Additionally, |
| purchased a condo (townhouses are another | | | | your investment generally increases in value |
| good alternative for previous apartment | | | | and you accumulate equity that can be |
| dwellers). Though it was a big step and a | | | | borrowed against in the future for |
| huge commitment, she has a sense of security, | | | | necessities, such as the purchase of a car or |
| satisfaction and accomplishment that cannot | | | | that vacation of which you always dreamed. |
| be found through renting. | | | | |
| | | | Though buying real estate before marriage is |
| Some Benefits of Renting | | | | a big commitment, more and more singles are |
| | | | doing just that and finding the move much |
| After renting for several years, many singles | | | | more rewarding than renting. |
| become frustrated with their dollars going | | | | |