Tips For Singles When Buying A Home Alone

Singles buying a home alone

With singles representing one of the fastest-growing demographic groups in Canada, buying a home alone may just be the next coming trend.

According to a recent study, about 20 per cent of Canadian home buyers are single and of that number about 45 per cent are women. In fact, Statistics Canada Census data shows that for the first time ever there are more people living alone in Canada than there are couples with children. Households of one comprise 27.6 per cent of all homes. That’s three times as many since 1961.rend.

If your stability quotient is high – you’ve been at your job a while and you plan on staying in the same city – buying is certainly a better option than renting given today’s low interest rates. But there’s no doubt that saving up for a down payment will be more challenging with only one income to depend on. Ditto that for your monthly mortgage payments, condo fees and the maintenance that accompanies home ownership.

Since 35-year amortizations have been eliminated, qualifying for a mortgage as a single person makes it that much harder. You might want to consider asking a parent or a close friend to co-sign your loan.

You should also consider your lifestyle. With more of your income going to your new house or condo, you may not be as free to spend your earnings on pricey clothes, dinners out and exotic travel.

What will your chore list be? If money is a concern, you probably won’t be hiring someone to shovel snow, cut grass and wash windows. Do you have the extra time for these jobs?

Choosing location should be as equally important a decision as a couple buying a home, perhaps even more so. As someone who lives alone, you’ll want to be safe and secure in your new digs, so check out the neighbourhood’s crime rate. Install a security system. You should also walk the neighbourhood to see how safe you feel.

Flying solo on your home purchase may seem daunting but with the right preparation and research, buying a home should be a breeze.

See what’s for sale in your neighbourhood – Do a quick search

Do a Quick Home Market Evaluation and see how much your home is worth.

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Rain Water Harvesting

rainbarrel
It has been used since ancient times all over the world, and today in Canada rain water harvesting is becoming more widely used in residential, agricultural, and commercial buildings. Rain water is clean, natural and free of chemicals and is an efficient and economical method to use at your home.
Rain harvesting systems capture, store, treat and deliver rain to use for daily water needs. Harvested rain can be used outdoors for irrigation, gardening, washing vehicles, filling up children’s outdoor water toys and swimming pools, and water for livestock, and indoors for toilet flushing, laundry, cleaning floors and if filtered, as drinking water. Simple harvesting systems consist of rain barrels that collect roof runoff for outdoor use. You can install rain barrels at the downspouts of your eaves troughs. Always make sure it has a secured lid to prevent children and animals from getting in as well as breeding mosquitoes and contamination. Also to make things easier when taking water out, position the barrel high enough to be able to place a bucket or watering can beneath the tap.
There are also more complex pumped systems that involve large above ground or buried cisterns that store water collected from the roof. This water is then plumbed into the house, either as a replacement or supplement to the standard municipal water supply.
One of the main purposes of rain harvesting is to conserve and reduce water demand. Reusing water saves considerable amounts of energy, because lots of electricity is used on community water pumping and treatment. It also allows you to store water to use in times of low water availability like in droughts or water bans. This can also save you money on your household water bills.

For a very small investment of time and materials you can collect hundreds of litres of free water every year, while helping out the environment. You’ll feel good about harvesting rainfall to help use less water and allow yourself to use this natural and free resource.

See what’s for sale in your neighbourhood – Do a quick search

Do a Quick Home Market Evaluation and see how much your home is worth.

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