Take The Stress Out Of Buying Your First House: 3 Tips For Single Parents

Buying your first house is always a stressful experience, but even more so for single parents. Single parents have to face all of the decision making alone and don't always have someone to bounce ideas off of. Keeping these three steps in mind won't make your purchase experience completely stress free, but it will help you make the transition smoother.

Get a team together. Unless you're a loan officer or a real estate agent, you're going to be dealing with a lot of unfamiliar territory during the house-buying process. You need people around you who you can trust to be honest and objective and keep your best interests in mind. Get recommendations from family and friends for an experienced realtor, a mortgage loan specialist, and a home inspector. You may also want a real estate attorney such as Iannello Anderson to be a part of your support. It's much better to have your team already set up than to scramble when something comes up last minute.

Overestimate expected out-of-pocket costs. Even if the sellers agree to pay closing costs, there are still prepaid expenses that have to be taken care of soon after the offer is expected. It's a good rule of thumb to plan on having a couple thousand stashed away for the appraisal and inspection fees, extra gas money for making trips back and forth and lots of pizza. You'll likely be eating out for a while during and after the move as you get settled as well, and having that extra cushion makes it so you don't have to worry about setting up your kitchen right away.

Have a shoulder — or two — to lean on. Single parents wear many hats and are used to being the rock of the family, but you're going to need someone else to listen as you go through the many bumps along the road. When the loan officer needs yet another copy of your taxes or the inspector finds mold damage in the bathroom, having someone to vent to is priceless. Get a few friends on your emotional emergency list if you can. Buying a house can take weeks to months, and if you are always going to one person, it's easy for burnout to set in.

Most importantly, remember to breathe and not think too far ahead. Make a list if you have to for the big picture, but taking each task as it comes and focusing on one thing at a time can help you keep a clear head and still maintain your sanity (somewhat) intact when they hand you the keys.

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