It used to be that buying a home was part of the whole American Dream. You found a partner, fell in love, got married, and then bought the house. Today, however, more and more single people are becoming first-time homebuyers. In fact the National Association of Realtors has estimated that one in every four first time home purchases are being made by singles — with single women outnumbering the single men purchasing homes at a two-to-one ratio. It’s really not a bad idea. Buying a home provides a sense of financial security that just can’t be found through renting. Besides the obvious tax breaks, a home generally increases in value creating a stable and accessible account for future financial necessities. Not to mention there is just something about purchasing your first home that brings a sense of accomplishment that renting just can’t offer.
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