Why SINGLE PEOPLE can't BUY a home 

I misspoke, the median home price is $374,900 -- Learn more about the Bank Of America grant → ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-EFo0lXqlayI.html

1. I paid all my credit cards and my car loan. 2. I moved with a friend and rent a room in his house. 3. I cut any extra spending ( No restaurant, No Coffeeshops, No bars) 4. In addition of having a full time job I work part time on evenings and weekends. 5. I focus on saving every dollar I made. 6. I was laser focus on keeping my eye on my goal. 7. I made sure my credit score was above 760 ( FICO ) across all three credit bureaus. 8. I did my research on what I wanted and most important shop for mortgages specially looking at credit unions. 9. I was realistic on how much house I could afford. 10. Last I had 25% of the down payment plus extra just In case of any extra expenses. All this took two years of hard work. Today I own a beautiful condo 😁

I'm lucky enough to live somewhere where the cost of living is really affordable. I bought a 3 bed 2 bath home for $126k by myself at 23 last year. Also lucky enough to have a friend who is a mortgage broker and he helped me realize that I was 100% able to buy a home myself. Also, its something I always wanted to do. Ever since I was a teenager I told myself I was going to buy a house by myself. So having that I'm going to buying a house mindset really helped too. I behaved with money for a long time to be able to do it but I'm glad I did

They need to start building tiny homes communities across the countries. As a single person, I really dont need a 2000 sqft home or even 1200, I would love a 700 sqft home with a nice small yard for bbq..if a 2000 sqft home cost 280k where i live, a 700 sqft home would cost around 90-100k which is very affordable..

At this point I’m joining Elon’s harem on Mars. Maybe the martians have a better housing and dating market.

I was able to purchase a home as a single woman, and I am thankful.

I was able to buy a home as a single guy. I traded in my BMW ($550/month) for a used Suburu ($120/month), ate rice and beans everyday, rented a house with 4 people for a few years, invested, until I had a 50% down payment.

Single mom here, closed earlier this month on my first home. It’s doable but splitting bills looks fun too 😆

This video has great information. I just purchased a home as a single person. I spent all of 2020 paying down my debts focused on my DTI. I definitely had to look just outside the city to even have a chance.

I bought my first house when I was 22 yrs old single as a dollar bill. At 24 I bought my second house, still single. I give all glory and honor to God for the ability to do it. 🙌🏽 Note: these house are in Virginia and Georgia, Fairly priced areas.

I just bought my first home as a single woman! Took 2 years of hard work, saving, doing taxes properly, etc. It’s definitely possible if you want it badly enough :)

In the process of buying a townhouse as a strong independent woman! Emphasis on the strong independent woman coz it's hard. My first realtor advised me to find someone to marry and then buy a house. I obviously dropped her 😎! Fingers crossed, everything goes well with the closing on the house!

I was just talking to my friends about this topic last week. also, just because we are approved for 210k at 50k a year doesn't mean we can afford that.

Finally laid off the Zillow and Redfin coolaid and actually reached out to a lender and a loan agent. got my prequal letter and yup, out of my range (California *Sigh*). But hey, now how much to save for. thinking of extending my timeline as well to a year or two. thanks for this video. (Still waitin on the first asmr video tho)

I bought my house in the 1990's and never ended up with a live-in or getting married. I had a decent job. I worked for myself and was making about $38,000+ USD part time when I bought the house, probably equal to about $100,000+ today. With that salary I went on vacations twice a year and bought a new truck every few years. The banks didn't care if you worked full time or part time, they just wanted to know your income's bottom line. For instance, my house payment was just slightly more than my brand new 1995 Jeep 4X4 payment. I paid off the Jeep a few years earlier than the house and it still sits in the garage today and runs just as well as the house does with 200,000+ miles on it.

yeah, being single in LA and trying to rent an apartment on your own is a struggle, let alone buying a house here! great video, like always. the editing and your humor in this one is just ** chef kisses**

Nobody and I mean nobody is talking about this. All I hear is we we we when it comes to finances. Thank you for this video. I’m planning to get a smaller home or condo. I find condos to be more affordable.

Not many are teaching from this perspective (Single vs. Married). Great insight and good advice. Thank you!👍

I bought a townhome In December 2020 near Orlando,FL for $240,000 on my income alone it is possible you just may have to comprise on your first place. I chose location and preconstruction over a single family house, and I’m glad I did

Personally, I bucked the trend...my wife and I bought our home in May 2021 at the height of the chaos on just my income. Were we well educated thanks to Kyle here and Javier's channel? Yes, but we were also very lucky. Being prepared as much as possible and following Kyle's suggestion about budgeting and knowing your numbers...hard yes. All the yes.

I bought my first home as a single woman in 2002 for 214k. I had the house remodeled/updated, and sold it 2 years later for 330k, during the housing bubble. I used my profit to put money down on a bigger 2400 sq ft home and remodel it. Now that home is worth about 480k.

I love your soothing voice. It made listening to something stressful so enjoyable.

I’m very grateful my husband and I have bought a house this year during this tough time. It’s very possible to buy a home by yourself. These are some excellent tips. For those still looking please do not be discouraged. Some homes don’t have everything that people want. I wish everyone who is searching at this time luck !

Thank you for making this video. When I have called lenders in the past they gave me the run around, even though I look good on paper, have savings, etc. I tried not to take it personally. Now I’m just saving my money to increase my buying power, and hope I have a better chance next year of getting a mortgage as a single person.

It's not impossible i make over 40-50k a year and im single, i just chose to live with family while i saved up 8k for closing, with down payment assistance for about 8k, and my credit is 752, there are houses out there well within your price range, you dont need to follow the median house price range, im getting houses under 200k just fine on my own.

For me, it’s not that homes are out of my price range, it’s that all houses are made for families. What tf am I supposed to do with 3 bedrooms and 2 baths when I’m single?? Even if I found a use for them, that kind of squarefootage would be a waste of money. Electricity bills would be through the roof since AC would be going to all the unused rooms as well. There’s just nothing for bachelors.

I closed in March on a new construction as a single person 4bed 2bath.2800sqft. Its definitely hard to do in California but its possible...lower your debt, stay on top of your budget. Listen to him and Javier advice! Thats how I did it and save!

Single girl here that is closing on my first home in a week! Only took me 33 years to have enough finances…. 😜

Thank you for your videos. I have learned so much and getting ready to start the process in February of 2022. I learned so much about the loan types (which I had no idea of). I am in the process of "interviewing" three lenders and real estate agents. I am down to those three. Still saving and just keep learning something new every time I see one of your video. Keep up the great work and putting out great information.

Bought a 2/2.5 house at 21. It doesn’t have to be impossible.

I moved back in with my mom (I was lucky enough to be able to live rent free)to save for my house…. It was a very very very long 18 months 😅 living with parents is interesting after being on your own… but it was all worth it.

It’s crazy, for married people their income doubles and then they get deductions. What the heck?! Single people should get deductions.

I was lucky enough to live with my parents rent free for 3 years, enabling me to buy a home while single, but that isn't an option for everyone. I did get a duplex though, with the other side rented, so I guess you could say there are "two incomes" paying for this house. It was the only way to buy a house that made sense to me.

I'm single and I bought a home in a neighborhood that I love. I live in an area that is considered part of Appalachia. I purchased a home in a neighborhood on the edge of town in 2008. It had previously been a foreclosure. It is a working class neighborhood with plenty of space between neighbors. I payed 35k. Having a home may mean climbing out of the box and getting creative, but it can be done. I think my next house is going to be a tiny house.

Buying a home as a single person was STRESSFUL; owning more than one property, I’m sure becoming a doctor would have been easier lol. However, the housing market is VERY different than when I bought my first property at like 22-23

I ended up going 203k on a foreclosure. I didn’t have enough cash to compete with other buyers and everything was listed as cash or conventional only/ no fha. So since nobody wanted to fix up their overpriced crappy homes, I figure why not get a loan to fix one up? 😳

My husband and I have been trying to get to the point where we can buy a home for a year now. The problem is my husband is an immigrant and hasn’t been able to get an experian credit score. He has his own credit card, is an authorized user on mine and we both have very good credit. It doesn’t make sense that he has credit with two out of the three credit bureaus, I thought most of the time payments are reported to all three. Credit in America is STUPID. If it’s this difficult as a married couple I can’t imagine how hard it is for single people.

This is so good!!! I started to give up on home buying . The market in Fl is so crazy ..moving back to Nebraska.

I’m in a same situation where I want to leave my hometown for Chicago, IL but my hometown is much more affordable in regards to the housing market. So I sit here currently living w/ family and weighing out all of my options. Single family home 1500+ sq ft in hometown w/ not a lot to do or Chicago, IL 800 sq ft condo + HOA/high taxes w/ lots to do in the city, especially for a single person.

My timeline for a house is 4-5 years. Decided it would be best to move back in with the parents to help save money. You gotta do what you gotta do if you want to get a house with only 1 income

You could move to a less expensive state or city. Check state and local taxes for income and property. If you can cut an extra $100 a month than do that too. You can buy but you may not be able to buy in your current state

A single person (assuming no kids) might not need a median priced home. A smaller condo or townhouse might be suitable.

lol, that intro is 100% facts 😂 jokes aside, I tried to do this earlier this month. I only qualified for about 300k and nothing in my area is even close to that… not even a studio lol. I appreciate this video though, really opens my eyes to this situation! I have two people willing to live with me, but I want my own place 😩 I’m currently in the, get more income bracket, lol. My DTI is very frugal, lol. I just have a car loan and my rent is split amongst 2 other people. Will continue to save and watch your videos for more tips!

Trying to buy a home as a single person in NJ is SO hard. I have a good salary. It the cost of home prices and student loans😭 if I move I will have a lower salary…😭

I was able to buy a condo thanks to your BOA grant video. I am single, debt free (excluding my mortgage lol) and tomorrow I am getting a brand new car. What really helped qualify: Good credit and steady income from employment. Also as I single person a house = work (cleaning, upgrading, maintenance). A 2 bedroom condo is perfect for me. Good luck to all, great info in this channel.

New style of video is appreciated

Zero debt, 792 credit score, I have 20% down payment plus extra $ to renovate…. But I refuse to have a escrow account (mortgage/insurance/taxes) more than 25%-30% than my monthly take home pay. Due to home price increase it has been a longer journey than I’d like. But I keep saving till I find my home, which puts me in an even better situation.

Thanks for the tips Kyle as per usual you're wicked smart.

Let's go production value!! I just started in my LO career. Imma try to kill this social media game like you.

Gone are the days where a family can buy a house, car, and survive on one income.

For the single people out there I'm an architecture grad working closely with this field, co owning homes will become the go to in a few years from now not sure how many years but the market is leaning towards making houses more expensive in the reason for people to co own homes.... Some reasons for that is because there is just to much real estate. There are thousands of houses out there that are being used as investment properties and the government does not want that soon enough it will become hard or not allowed to own an investment property because it's taking away from allowing people to buy homes to live in so we have limited houses now. Also, sustainable houses will become more popular in demand making it more difficult to reach the price of a home on its own... Try living with people you can trust and split the mortgage between 2-3 people at most

In addition you may have to relocate to a different area to purchase.

My husband and I got approval for loan but they recommended I drop from the loan so he could qualify for a loan with a grant (first time homeowner). Anyway.., we have just started looking for our forever home and I’d like to punch myself in the face already 😆. Any insight on when this bubble will burst based on passed experience?

I couldn't do it in my hometown. I do have more than one source of income. I bought a great home in another state. Wouldve cost more than double what I paid if I tried to stay where I was. You and Javier helped a lot! I even used Javier realtor referral.

If anyone looking for a 2 bed 2 bath condo under 100k, there are some next to the NRG stadium in houston. 5 mins away from Texas Medical Center, the biggest medical center in the world. Bullet train is coming to houston- Dallas . So much room for growth

I'm in the same boat! I'm debt free and my credit score is great, but there's no way I could justify buying a house in my area at the current prices...I'll just keep saving money until the market stabilizes...hopefully!

There's plenty of homes available under the median home price. Many people just want more than what they can afford and refuse to get realistic and settle for anything less

I just bought a 4/2 pool home in South Florida. Of course it's easier with 2 incomes but it's totally possible to do when you're single. I searched for a home for 5 months constantly being outbid. I finally was able to get one.

Thanks for the suggestions! It does seem almost impossible right now for me in a high cost of living area where I was born and raised, but I really like the house hacking idea.

Great advice. I bought my first home which needed some rehab in a great area with a low credit score. Fixed it up and started climbing the ladder. Then I was single again at 50 with an income close to 60k. I am in the process of buying a 300k home. So far what I have learned and applied from all these videos is that it's flat out DTI, Credit Score, and Down Payment, in that exact order. And, show the lender on top of a down payment, you have at least 10k in your checking account. Edited to add that if you are worried about your student loans, IBR them right now. Don't wait until May. They will provide you with a future statement which lenders will use as part of your DTI. Don't let them getcha with the 0.5 or 1% of the balance.

I just decided to do Home Partners while solidifying my credit and moving up in my company this year instead of renting an apartment for even more a month and not getting anything in the end. Just gotta worry about securing financing at the end of it all instead of competing with other buyers for my dream house.

1. Budget better 2. Make more money (no, not easy, but a lot easier than you believe) 3. Move somewhere where the cost of living is affordable

What even... Marriage is one of, if not THE worst financial decisions a person can make, period. Nevermind when buying a home. Not even counting the risk of divorce, (which might as well be looked at as a financial STD that can be fatal in some cases.) unless one of the spouses would qualify alone, having two spouses that couldn't otherwise qualify isn't going to help. With all the 1st time home buyer programs in existence the only things keeping people out of homes is credit, down payment, and availability. Being married isn't going to fix your credit, it's actually more likely to hurt it. Especially if you're a woman. Being married might help with the down payment, but only if both spouses are relatively equal earners. And of course being married won't do jack for housing availability.

I've purchased a home before and I just pre-qualified for a new home yesterday. It just boils down to your qualifications. I'm in Houston.

Yeah, YNAB (You need a budget) software is fantastic!

I live with my parents I just got a long term full time job after 4 years after highschool I have basically no expenses And I will not be able to afford a house for at least another year

My family recently sold a house here in LA and the buyer was a single guy who made a six figure income as a software engineer. I wondered if aside from investors, a bachelor with a high income is the target buyer, in some cases? A two income household has all of the expenses of raising a family.

I’m in a similar position. Not only am I not married, but I’m also thinking about moving.

I bought my first condo in my early 20s and now I own three houses and I have never been married or ever been in a relationship where I was going to merry the person I was dating. If you want to own a nice middle class house in your 30s buy that tiny condo in your early 20s.

Single people will be in a great position when the housing market corrects or crashes, assuming they have enough money saved. Also the thing with relying on a double income in a marriage is the divorce rate is 40-50%. I don't know many divorced people, what do they usually do after they only have half the income they had before? Sell and split the profits, rent out the house, refinance?

Sadly these days people have to save much more for 20% down that is the only way they’re going to afford to buy these expensive homes. Just save like crazy pay off all your debts until you can put a massive amount down so you can afford/qualify for the mortgage. Being house poor is never worth homeownership.

Very informative, I’m going to look into these options. Thank you. I love your voice ☺️ btw.

Location location location, if you are flexible to move to a cheaper place maintain a good financial background you just may be a future investor. There is so many land in USA it’s amazing if you are flexible to live in different states. With these remote opportunities it changed the way we think we have to live. I’m speaking as a single parent. I work as a analyst and remotely 100%.

I'm single and recently bought a house. Financially it was not difficult, as I save a lot of my income and chose a moderately sized home. But I had to let go of some nice houses because those communities are more suited for couples and are a lot of work to maintain for a single person.

I was 19 when I bought my first property

This is an excellent video. Thank you so much!

Thank you for this video. It has helped more than you know I’m subbed and hit that bell

If you live in the US you have so many opportunities to move to somewhere cheaper and do house hack on multi-unit property. If you pick the right property you don't have to pay a dime for living expenses.

Weird. I was single and single income when I purchased my home and everything went just fine. Also, during the time I was purchasing my home I was told that single women are the biggest group of homebuyers now.

Can you recommended a video about the processes of buying a resale house vs new construction

It's funny how life is hard for people with families but when it comes to people that choose to wait and be responsible. Shit is even harder lmao

Dude...your videos just keep better and better. :)

I’m 28 years old single two houses 🏘 rented now but I live in a student apartment. I’m praying for a nice girl

If I want to stay single. Best option with income being a limiting factor to get me into a $350-425k home with plan to house hack (where banks don’t factor rental income while it’s also my primary residence). I most likely figure I’ll have my parents co-borrow then refinance them off loan in a few years. Granted I’m in SoCal (20 mins north of Long beach) but want to try out Central AZ

The cold hard truth is, buying a home on a single income is basically impossible for most people. With the exception being homes in midwest/south with an abundance of sub $250K homes.

Not married yet. But Have 2 boys and a baby girl on the way. Looking for a house now. Past two weeks been to open houses and schedule appointments. Nothing yet. But all off my income/credit. 830 score, down payment ready, extra savings ready, closing cost cash available. 450k my max purchase in NY.

A 2 bedroom apt in my area now rents for higher amount than my mortgage payment for 3000 sq/ft house

I had more money when I was single. My boyfriend is a spender and it has rubbed off on me so much. I own my own house and I had a roommate before my boyfriend moved in. Now I get less money in rent and my boyfriends bad spending habits have rubbed off on me. We were originally planning on purchasing a new house together about a year after he moved in. But now he’s already spent the money he made from the sale of his house on a truck and we aren’t saving as much as we planned, so it’s probably gonna be like 5 years before we can move lol

I make 70K a year and only got approved for a house up to 235K. You know what that gets you today? A cardboard box in the hood. I can't even afford to buy in my neighborhood they want 300K for rowhomes. Philly isn't even a good place to live but i can't afford to live here and i just feel worthless at the moment. Why should I have to quit my job, find another one, and then find a house before that job starts just to be able to live somewhere

Single people always get the shaft financially. I bought my condo 20 years ago and I’ve had men and jobs come and go ever since. I paid less than I would for rent in my mortgage payments and have a great place to live plus equity. I suggest buying as soon as you’re financially able whether it’s a tiny little condo, or Co Op, anything you can earn some equity. It only goes up from here so hop on it!,

can you do a video on on buying a 2-4 unit home? does it make it easier to qualify for a bigger loan?

Yep, this idea of being a homeowner just won't be happening for me any time soon. Sigh. But being an apartment dweller means less housecleaning . . . so I have that going for me!

It may be hard to purchase a home as a single person but it is possible. I purchased my first home at 23 during the times quarantine. You just need to save your money and spend less. Currently I have a 2002 Toyota I bought in cash from an elderly woman. Just don’t spend much and save a good chunk of your money. Save money by reading books on real estate and buying a home on your own is easy, real estate agents are a waste of money in my opinion. I purchased a 190k home and put in an extra 48k just in renovations at the age of 23.

Ah, yes. This explains everything. I'm a stay at home mom who homeschools. We're wondering if we're ever going to get into a home, even with looking at cheap states.

Honestly a man should a house himself and allow the wife to be able to stay at home and work

Great topic

Houses are too big, like say I'm single and plan to stay that way. It's not that I have anything against people, but when it comes to a place where I have to live, a roof over my head, I don't want to have to trust that we are always going to get along. Most people smoke and I can't stand to be around that, even a non smoker might have friends who smoke and invite them in, now I have smoking in my home. That brings me back to houses being too big. Those tiny houses are too small and cheaply built. I'm thinking the perfect house for just me, 15ft x 30ft, 3 level. With a basement, a main floor and upstairs loft/attic for the one bedroom. The main floor would be without a bedroom so it's officially a one bedroom home. But there's no houses like that, they all are huge and look like 3 or 4 houses smashed into each other. I go to Google maps on street view in different places and it's like that everywhere. It's like discrimination against singles. They want to put a large family into one home and have them argue and fight each other to keep the cops employed and the jails filled. I buy land, but now I'm paying taxes on something I can't afford to build on. But would they even let me build the house I want, or would they say it doesn't meet code and make me build a much larger house?

lol that dating app intro! 🤣

Can you also start including homestead exemptions when purchasing a home?

Kyle no way you're struggling in the dating process!!! Lol 😄😉