Solo Homebuying

​With the rise of singles has come the increase in single homebuyers/homeowners.  According to most recent data I read, “Forty-two percent of millennials have purchased a home alone, compared to 34 percent of Gen Xers (ages 44-59) and 22 percent of baby boomers (ages 60-78).”  As of May 17, 2024, I am now one of that 34 percent.
 
Being single has given me the flexibility to have a career that’s taken me across the United States: El Paso for my doctorate, southeast Virginia for my first academic job, and DC for a better academic job, which offered me tenure.  And while being a nomad for the past fourteen years has been fun and exciting, I entered a stage where I became ready to stay in one place AND make money off my property.
 
When my father passed away, he left me some money for a down payment on a home.  I grew up in row houses, so for me, the concept of a detached unit with a lawn and a garage is, well, foreign.  I do love to visit them and look at them, but as a single person, I don’t need a large space, but I did want more than the 750 square feet my apartment offered me and Chester.  Besides, I happen to like apartment living.
 
My brother, who had recently purchased a townhouse, showed me the “ins” and “outs” of Redfin, such as how to adjust the down payment to see how much mortgage I’d pay.  I spent the next few months browsing condos and townhouses in DC and Montgomery County in southern Maryland (closest to where I work).  Conclusion: the real estate market doesn’t make it easy for us singletons who only have one income.  Affordable places that met my criteria (condos near DC Metro stops) were few and far between.
 
That said, I did find realtors that understood my needs and expressed confidence in being able to help me find what I needed.  I “interviewed” five, all of whom answered my litmus test question, “What’s your experience in working with solo homebuyers?” well.  I had to ask it; most of these real estate ads feature couples and families (see my hyperlinked article to the left of the parenthetic).  One person said, “This is DC.  Half my clients are solo homebuyers.”  Good enough, true enough.
 
I ended up choosing Jason; I felt most comfortable with his patient, “teacherly” vibe, as well as his in-depth knowledge of Montgomery County.  He showed me and sent me to places in DC and Maryland that looked like good fits.  But the moment I knew what I wanted was when he showed me a two-bedroom condo, 911 square feet, literally a four-minute walk from a Metro stop.  “I’m not a buyer yet, I’m not a buyer yet,” I had to repeat to myself.  Jason continued to show me properties, none of which quite measured up to this place (some of those HOA fees went into the thousands per month!).  In the interim, I did check out one complex at night, as per Jason's suggestion, which I combined with a nice dinner with my friend and fellow singleton Susan. 
 
Finally, on March 10, I became a buyer.  And on this first property, apparently my money wasn’t good enough for this first seller, an investor, because he didn’t respond to my offer.  Five days we waited for him, then we withdrew the offer.

Offer #2: It turned out I was especially impulsive; it was the same location as my first choice, but even closer to the Metro.  But, there was so much gutting that I had to be done, including taking out a mirror.  
 
Offer #3: Same location, close to move-in ready.  An hour and a half after we put down the offer, an investor willing to pay cash and waive an inspection put theirs in.  “Back away, not today,” was what that little voice inside me said. 
 
From a seller’s perspective, I can understand wanting to sell to that kind of buyer; no worries on that end.  From this little solo homebuyer’s angle, grrrrrr!!!!!!
 
Offer #4: This one has lots of space, but the HOA fee was higher than advertised (proofread, people!).
 
Offer #5: I had originally dismissed this place due to its “pet-free” policy. Seriously, my cat/son Chester isn’t going to make anywhere near the amount of noise or do anywhere near the damage a human baby will make.  But the laws do value a more traditional “family,” don’t they?
 
Or maybe not.  Thanks to the Fair Housing Act, Emotional Support Animals must be let in.  And when I’m super stressed, Chester puts his paw across my heart.  If that’s not emotional support, I don’t know what is.
 
Bottom line: I liked everything else about this place.  The location, the space, the quiet, the trees nearby:

​And Jason was able to negotiate a good price.  And only $506 per month in HOA fees.  On March 25 of this year, I officially went under contract.  The next couple of weeks were a blur, as I went through the gauntlet of home inspection, making the good faith deposit, buying homeowners insurance, locking in an interest rate (thank you, Josh, for catching that projected change; he got a nice 6.5% rate compared to the 7+ it’s at now). 
 
The storm calmed for the next month and a half as I navigated the usual end of semester chaos.  Then came the week before closing.  I had to get the remainder of the down payment to Mike, the title attorney.  Something I thought would be very simple turned out to be quite complicated.  I thought the money would go from my trust to my personal account immediately; no such luck.  It needed a red-eye train to get there.  I thought the funds I had would go to Mike immediately; again, not quite. I had to make the trip to the bank, but hey, I am a step counter.
 
They did get there.  May 17, the closing date, came.  I signed my name about 500 times, walked through the unit with Don, the listing agent, and noticed a few things that I’ll discuss in the “Transitioning” post to come.  But, we made it!
 
The feeling of “this is my place” kicked in the next day when I parked my car in one of the parking lots to which I have access.  I’d been parking on crowded streets, which makes one vulnerable to getting hit by other cars before they speed off, which happened to my rear driver's side door right in front of my building.  And when I opened the door to the condo, it fully kicked in.  Placing my electric guitar, amplifier, and a few small boxes into my storage space helped me feel a bit lighter.
 
But, as I sit in my empty condo waiting for a handyperson to arrive, I imagine those feelings between light and heavy will alternate.  But that’ll be highlighted more in the “Transitioning” post.
 
See you on the other side!