When it’s time to buy a home as a single parent, you’ll likely run into plenty of challenges. As a first-time homebuyer, it’s not always easy to go through the process. A good real estate agent in Fairfax will help make the process much easier.

Yes, as a single parent, you can buy a home. It doesn’t have to be as difficult as you might think. With the right agent by your side and the right tips, you’ll be in good shape to buy a home as a single parent.

7 Tips to Buy a Home as a Single Parent

1. Make Sure You’re Ready to Buy a Home as a Single Parent

Before you go any further, it’s a good idea to look at your budget and your overall situation to make sure you’re ready to buy a home as a single parent. You want to make sure you make the right decision. If you are ready to buy, it can be a great decision. However, if you’re not, it could end in disaster.

Take the time to consider all the responsibilities of owning a home, all the expenses, and everything involved. Make sure to consider home repairs and maintenance before you make your final decision.

2. Consider First-Time Homebuyer Grants and Programs

There are several programs you can use to help with your down payment, interest rates, approval, and other parts of the home buying process. You might be eligible for local, state, or federal assistance as a first-time homebuyer and you can stop renting.

The government offers some grants, which are basically free money, and some other programs you can use to help you qualify to buy a home. It depends on the type of home you want to buy, where it is, and a few other qualifications.

3. Get Pre-Approved for a Mortgage

Before you start shopping for the right home for you, it’s a good idea to get pre-approved. As a single parent, you want to know what you can afford to buy and the price range you should be shopping within. This is an important step when you buy a home as a single parent.

The last thing you want to do is start shopping for a home only to find out you can’t get approved for a mortgage. Shop around with a few different lenders and make sure you have a pre-approval letter before you start looking for the right house for you.

4. Choose the Right Mortgage Broker

The first person to talk to about finding the right lender or mortgage broker is your real estate agent. You need a broker that understands what you need as a single parent. They should have experience working with single parents and a good reputation.

As you shop for the right lender, make sure you consider their ability to help you specifically. Every situation is a bit different and you should have a lender willing to help you buy a home as a single parent.

5. Hire a Local Real Estate Agent

Whether you’re shopping for a home in Springfield, Fairfax, or Burke, you want to hire a local real estate agent with experience in your market. A good agent with experience helping first-time homebuyers find the right home in the neighborhood you want to live within is the help you need.

Make sure you hire a real estate agent that will be able to give you the attention and help you need. Interview a few agents before you make the right choice for your specific needs. Some may even have experience in this area an can help you buy a home as a single parent a bit better than others.

6. Figure Out How Much You Can Afford to Put Down

The down payment will make a pretty big difference when it comes to your mortgage and buying a house. If you put enough down, you’ll be able to avoid paying mortgage insurance, which will save you money.

Typically, you need to put 20% down, but you can also avoid paying mortgage insurance if you borrow 80% of the value of the home or less. Some mortgage programs may also allow you to skip the mortgage insurance.

7. Create your Needs and Wants List

As a single parent, you have specific things you need and want in a home. Make sure you list them out so your agent can help you find just what you need and as much as possible when it comes to what you want.

Maybe you have two kids and you really need them to have their own rooms. This means a three-bedroom home is a part of your needs list. Maybe you’d really like to have a fenced yard, but it’s not a necessity. This item belongs on your wants list.

Creating a needs and wants list makes it much easier to find the right home for you.

Yes, you can buy a home as a single parent and this is rather common. In fact, if you’re a first-time homebuyer, you might get some help from specific programs. If you’re ready to start your home search in Northern Virginia, make sure you find the right agent for you.