UNCATEGORIZED

Top three reasons single owners decide to buy

Aug 22, 2014, 7:02 AM | Updated: Mar 4, 2016, 5:47 am

Nearly one-third of all real estate purchases in 2013 were made by single homebuyers, according to data from the National Association of Realtors.

The top three reasons single homeowners say they decided to buy: They viewed home ownership as an investment in their financial future; they were tired of paying rent, and they thought it was the right time to purchase a home

“We are in the midst of a shift in the home-buying population,” said Rick Davidson, president and chief executive officer of Century 21 Real Estate LLC. “This survey shows that home ownership is a major life decision for singles and that it is just as important for them as it is for married couples.”

But single homebuyers say it wasn’t easy to achieve home ownership because many were intimidated by the home-buying process, and they had to make several sacrifices in order to buy a home.

Nearly two-thirds of single homeowners say they overcame a roadblock to buy their home. The most intimidating parts of the home-buying process, they say, included making an offer and negotiating a price (38 percent); obtaining a mortgage (36 percent); moving (31 percent); closing (30 percent); and searching for and locating a home (25 percent).

Singles also say they had to make several lifestyle sacrifices: 60 percent say they had to dine out less to purchase a home, and half say they had to cut back on entertainment. Fifty-one percent say they had to spend less on vacations.

Uncategorized

kent trooper shot...

Kate Stone

Man faces multiple charges after WSP trooper shooting in Kent

A man accused of shooting a Washington State Patrol trooper multiple times in Kent last Friday has been charged.

1 month ago

Oregon Emergency Landing - (Elizabeth Le via AP)...

KIRO 7 News Staff

‘Everyone was eerily calm,’ recalls passenger aboard ill-fated Alaska Airlines flight

Terror in the skies: A Vancouver, Washington, woman shares the harrowing moments after an airplane blowout over Portland.

3 months ago

Photo: SPD vehicle...

KIRO 7 News Staff

Two men shot at bus stop in North Seattle near Northgate

Two men were shot at a bus stop along Aurora Avenue Wednesday, according to the Seattle Police Department.

5 months ago

Manuel Ellis arrest, Tacoma police officers...

Associated Press

Prosecutors focus on video evidence in trial of Washington officers charged in Manny Ellis’ death

A cellphone video of the 2020 fatal arrest of Manny Ellis shows the Black man on the ground with his hands in the air in surrender

6 months ago

...

No Author

EXPIRED: Win tickets to see Stokley at EQC!

KIRO Newsradio is giving you a chance to win two tickets to see Stokley at the Emerald Queen Casino on Saturday, November 11, 2023!

6 months ago

(File photo)...

L.B. Gilbert

NLRB files complaint against Amazon for unlawful confidentiality agreement

A new complaint from the National Labor Relations Board (NLRB ) is accusing Amazon of requiring some corporate employees to sign an unlawful confidentiality agreement. The complaint states Amazon had required a former employee from its drone project, Amazon Prime Air, to sign an agreement that forbade discussion of information regarding Amazon, whether or not […]

7 months ago

Top three reasons single owners decide to buy