Parry Custom Homes Blog

Blog Archive for September, 2017

Single parent buying a home?

Categories: Buying a Home, Pittsburgh on your lot builder | Posted: September 1, 2017 | Comments Off on Single parent buying a home?

 

If you are a single parent and you are considering buying a home for your family, it may be a little daunting taking on homeownership on your own. However, you might be at the place in your life where you are ready to put down roots and give your family a place of your own to enjoy. Parry Custom Homes, a premier Pittsburgh on your lot builder, shares resources that are available to you to help make the home buying purchase easier on you.

The first thing you will want to focus on and focus on ahead of time is to do your research early. Check your credit score to see if you need to make any improvement on it if it is lower than you want or need to purchase a home.

Second, take inventory of the home prices in the area or areas you are interested in moving in and how long the homes are staying on the market. Keep an eye on homes that sell quickly, or sit on the market and have price drops. Then, gather your documents you will need, like income, debts and assets, once you are ready to more actively begin your new home search.

You will then want to familiarize yourself with the mortgage process. Even if you have purchased a home before or been involved in purchasing a home, things change so quickly that it is likely things have changed since the last time you went through the process of getting a mortgage.

Sometimes, single home buyers can experience more difficulties getting a loan than dual home buyers that have two incomes to back their mortgage. Shop around for a trustworthy lender that can help you find special programs that are designed with and for single parents. Even if you have been a part of purchasing a home before, you may be considered a “first-time buyer” as far as assistance is concerned, depending on your situation.

Research the home buying process and assistance programs or loan options that are available to you and figure out what qualifications are needed and any other documents you may need to provide.

Once you have your options in order, get prequalified for a mortgage so you know what your budget will be that you can spend. Knowing what you qualify for can help you make sure to look for homes that you can afford, and not get in over your head shopping for homes that are over your budget.

Lastly, be sure that whatever lender you choose, is a trustworthy one who will help you handle the paperwork and communication needed to help you purchase your new home. Especially being a single parent, you need all the help and support you can get during the homebuilding process and someone who will help make the journey a rewarding one for you and your family.

 

 

 

Parry Custom Homes is an established homebuilder in the Pittsburgh area.  Call or contact us today for more information.