Single Moms Can Own Homes Too

I was a single mom for 8 years. I know what it feels like to have the weight of the world on your shoulders. And if you’re like me, money is budgeted to the penny. After you pay the rent, buy some groceries and pay the utilities, it’s hard to find anything left over for savings. Single moms... I get you. What if I told you I know a way you could save thousands a year? You can save money by BUYING something. That’s right, girl! Buy yourself a home!

There’s this little trick you can use to decide if a house in your area is better to rent or to buy. It’s called the Price to Rent Ratio. All you have to do is take the average price of homes in the area in which you’re interested and divide that by the average rent x 12. Let’s use a specific example. Let’s say you want to live in the cute little neighborhood of Chevy Chase in Angleton, Texas. Your kids can go to a great school, and they could even walk there safely thanks to the super friendly crossing guards. As we speak, there is a house for sale there that is 1500 square feet, 3 br/2 bath. It’s currently listed at $153,500. Just a stone’s throw away is a similar 3/2 house which recently rented for $1600 per month. Let me do the math for you…

Price to Rent Ratio= $153,500/ 1600*12

That’s a P/R Ratio of 7.99. The general rule is if the ratio is between 1 and 15, it’s better to BUY! Want me to break it down for you into words that mean something to you? Girl, if you rent in this neighborhood, you are throwing your money away!! You need to call me, so we can get you hooked up with a great lender. There are actually SPECIAL LOANS FOR SINGLE MOMS!

In the days to come, I will share with you why buying a home is the way to go. Of course, there are always factors to consider in buying a home. Maybe due to credit issues, you can’t yet take advantage of the low interest rates, but you’ll never know if you don’t ask. THAT’S WHAT I’M HERE FOR. Call me! Let’s talk about whether your circumstances would be better in your OWN HOME, and if right now isn’t the time, I can help you find someone who can help you get there.