Buying a home as a single parent might seem like a monumental decision. While you may think that it is a step that you are unsure of since you already have so many responsibilities, it can have numerous advantages. You are already providing a home for yourself and your children, so why not invest in something that you will eventually own.
Home Equity
One of the best things about buying a home is the chance to build equity. When renting, you are receiving nothing back for your money. Yes, you have a place to live, but buying allows you an investment that will continue to grow. Rent increases regularly, and if you can purchase a home with a fixed-rate mortgage, you will be paying the same amount until the home is paid off. Continue reading