Why Singles Are Buying vs Renting Homes

More Singles Are Buying Homes -- Is This Trend Here To Stay?

Relationship Advice Expert April Masini

Advice Seeker: Dear April Masini,

I just wanted to know what you think of singles buying homes -- whether it is condos or a vacation home in Lake Tahoe. It seems like vacation homes are becoming a popular choice with singles nowadays! Why do you think this is and is buying a home better than renting one? I'm single and have actually entertained the idea of buying my own home!

Sincerely,

Sally Single Wants Cool Condo

April Masini's advice:

Dear Sally Single Wants Cool Condo,

There's no place like HOME for SINGLES and being big home-buyers, here are some things that singles are on the look out for:

Vacation Homes

Singles have more disposable income than ever before, and they are comfortable being single. They don’t want to wait around for Prince Charming to whisk them off to Barbados, so they are buying their own vacation homes where they want to vacation, and many times those vacation homes are for solace, or for socializing. Vacationing regularly in one spot — whether it’s annually or bi-weekly — can be the basis for having relationships with other vacationing singles, too. This is a bonus and also a draw for single vacation home buyers.

Condos

Many professional singles don’t have time to maintain a home — nor do they need or want all that space. Condos are cozy, they come with maintenance fees that assure that gardens, and roofs get taken care of by other people, and they often have pools, gyms and other amenities geared towards singles. Other singles are not so much busy, but are not inclined to home repairs welcome the maintenance provided by condominium complexes.

Homes

Singles with part or full time custody of children often want homes in good public school districts. They don’t want to be the only single parent on the block or in the neighborhood, so if there is more than one single mom living nearby, it’s a more attractive buy.

Homeowners Entertain

Single homeowners are more likely to be “house proud,” and throw dinner parties or other parties that utilize their home or condo purchase. But they’re not “settled” by any means — except financially. If something better comes along, they’ll sell and buy. Life is more fluid now than it used to be as divorce impacts families and their living spaces. Newly divorced single women find refuge in condos where there are neighbors for company, and guard gated communities for safety that is important to new singles with children.

Singles Rent for a Couple of Reasons:

1. They don’t have the money for a down payment on a purchase.

2. They are newly divorced and aren’t sure what they want to do next.

3. They are newly divorced and are anticipating a legal battle and want to stay financially fluid.

Taxes?

All homeowners pay taxes for schools — whether they are single or not. It’s a contribution to a community you live in. Just like all homeowners pay taxes that go for parks and road maintenance whether they frequent parks or drive on the roads. Renters do not pay school taxes or property taxes in addition to their rent, regardless of whether or not they have children.

So, before you go ahead with the next step, consider all these options carefully and decide if you want to buy, rent or have your own vacation home tucked away in Vermont or The Hamptons!

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April Masini -- nicknamed "the new millennium's Dear Abby" by the media, is author of the best-selling books Date Out Of Your League and Think & Date Like A Man, the two (just released) step-by-step dating and relationship manuals, Ideas for a Fun Date and Romantic Date Ideas, and the critically acclaimed dating and relationship online magazine www.AskApril.com.