We all need a place to live and call our home. It could be a beautiful hillside mansion just outside of Hollywood, a cabana in some tropical destination, or a lovely and quaint home right here in Germantown. At Faith Management & Realty Group, we might not be able to help you find that cabana, but we can certainly help you find your next property!

There are simply tons of property options in the Germantown area for you to consider, and it can be overwhelming to decide on which would fit your needs best. Our real estate agents are here to guide you in sorting through your options. Read on to learn more, and contact Faith Management & Realty Group to work with Germantown’s best realtors!

Living Alone

Families tend to buy houses, newly married couples are usually in the same boat. But what about if you plan on living by yourself? Is buying a house too crazy and overzealous? Are you doomed to rent a studio or one-bedroom apartment until the end of your days? Do you have to be living with someone to get the kitchen you’ve always dreamed of and the backyard you’ve always wanted?

The answer to each of these questions is the same: absolutely not! The world is practically your oyster when you’re thinking of living alone! Don’t let society tell you otherwise—see what your options are, and how they might impact your decision.

Buying a House

Many shy away from getting their own house if they’re living alone, but this shouldn’t necessarily be the case. Some of the key things to keep in mind are aspects we’ve mentioned in past blog posts, but in summary, you need the following: a good credit score, a solid savings account, and the ability to pay for both a down payment and make your monthly mortgage payments on time. For the best ROI, you should plan on living in your house for at least five years.

Don’t forget: owning a house is a lot of work—and this increases with the size of your home. In order to do a great job with owning a house, remember that you’ll need to independently shoulder these responsibilities, as well as the costs associated with them. But if you meet all these requirements and have always dreamed of having a yard with a garden to call your own, buying a house is absolutely possible! Contact our real estate team to learn more.

Buying a Condo

All of the previously mentioned things for buying a house are true, but the difference with purchasing a condo usually boils down to price. It’s likely that you’ll pay less (and subsequently, get less space), but it might be more manageable to keep up and maintain.

Many people opt for buying a condo when living on their own, because it provides the sense of ownership and financial assets without requiring near-constant work. As nice as that huge backyard is, it’s a little less nice when you have to weed it, mow it, and make sure it’s up to HOA code. But if things like space and a yard are top priority for you, a step above a condo might be in your better interests.

Renting

Renting is one of the most common living solutions for people living alone. The advantage to renting is that you have someone to take care of things that go awry, as well as an added sense of flexibility. New job opportunities, moving to a new city or state—these things are far easier to do when you don’t have to worry about selling a house.

On the downside, renting means you’re spending—not investing—money. It’s less expensive now, but over time, you won’t get anything back for the money you put into it. Regardless, renting can be a great temporary solution if you’re trying to build your career or get a bit more established in life as a whole.

No matter where you’re at in the real estate world, our realtors can help. Get your next property with faith that everything will work out beautifully—start with Faith Management & Realty Group today!