Should You Buy a House as a Single Person? (Des Moines Homebuyer Guide)
If you’ve ever thought, “I should probably wait until I’m married to buy a home,” you’re not alone.
That belief is everywhere, and it’s flat-out wrong.
In a recent episode of The Lofty Lender, I sat down with Charlie Chedester to break down one of the most common misconceptions in real estate: whether buying a home as a single person is a smart move.
Let’s simplify the conversation and give you the real answer.
The Biggest Myth: “You Should Wait Until You’re Not Single”
A lot of people assume buying a home alone is risky.
Charlie put it simply:
It doesn’t matter if you’re single, married, or somewhere in between, what matters is stability and readiness.
Think about it this way:
You’re already paying rent
You’re already managing your own budget
You’re already responsible for your housing costs
So the real question isn’t “Should I wait?”
It’s “Does this make sense for my situation right now?”
Renting vs. Owning: The Real Risk Conversation
One of the biggest fears people have is:
“What if I lose my job and can’t afford the mortgage?”
That’s a fair concern, but here’s the reality:
If you lose your job → you can’t pay rent either
If you lose your job → you can’t pay a mortgage either
The difference? Planning.
This is where preparation separates smart buyers from stressed buyers.
Step One: Build Your Safety Net First
Before anything else, you need reserves.
We recommend:
3–6 months of expenses saved
Emergency funds for repairs (water heater, HVAC, etc.)
A realistic monthly budget
As Charlie said, savings and reserves are step one, whether you rent or own.
This is especially important when you’re a single-income household.
Why Buying Solo Can Actually Be an Advantage
Most people only see the downside. But there are some serious upsides:
1. You Control Everything
Your timeline
Your budget
Your decisions
No compromise. No waiting on someone else.
2. You Keep 100% of the Equity
When you buy alone:
Every payment builds your wealth
Every dollar of appreciation is yours
There’s no splitting equity if life changes.
3. You Can Start Smaller (and Smarter)
One of the biggest mistakes buyers make today?
Trying to skip their “starter home.”
Instead:
Buy a modest home
Build equity
Upgrade later
That first home is a launchpad, not a forever home.
A Smart Strategy Most People Overlook
Here’s a simple but powerful idea we discussed:
👉 Get in early, even if it’s small
Why?
Because:
Home values tend to rise over time
Your loan balance goes down
You build equity you can use later
I shared a real-life example of a couple who each bought homes while single. Later, they combined their equity to buy a much larger home much sooner than expected.
That’s how wealth builds.
Creative Ways to Make It Easier
Buying solo doesn’t mean doing it alone financially.
One underrated strategy:
👉 Get a roommate
Charlie did this early on, and his roommate paid more than half the mortgage, helping him:
Reduce his monthly burden
Fund home improvements
Build equity faster
That’s leverage most people ignore.
What Actually Matters When You Get Approved
Let’s clear this up:
Lenders do NOT care if you’re single.
We look at:
Credit score
Debt-to-income ratio
Income stability
Assets and reserves
That’s it.
It’s math, not relationship status.
One Critical Tip for Single Buyers
This is where I get a little more firm with solo buyers:
👉 Don’t overextend yourself
Example we discussed:
A 15-year loan might look great on paper
But it can stretch your budget too thin
Instead:
Use a 30-year loan for flexibility
Make extra payments when you can
This gives you:
Lower required payments
More breathing room
Protection when life happens
3 Actionable Takeaways
If you’re thinking about buying a home on your own, start here:
1. Know Your Numbers
Get fully pre-approved, not just pre-qualified.
Understand your comfort zone, not just your max.
2. Build a Solo Safety Net
Have reserves ready before you buy.
Confidence comes from preparation.
3. Think Strategy, Not Status
Your first home is not your forever home.
It’s your first step into equity and wealth-building.
Final Thought: It’s Not Risky, It’s Empowering
Buying a home as a single person isn’t a mistake.
When done right, it’s one of the most powerful financial moves you can make.
You don’t need to wait for:
Marriage
A life event
“The perfect time”
You just need:
A plan
The right guidance
A clear understanding of your numbers
Want to Learn More?
If you found this helpful, there’s a lot more where this came from.
👉 Search for The Lofty Lender with #TallMoneyMan wherever fine podcasts are downloaded and listen to the full episode.
And if you’ve got questions about your situation, reach out anytime, happy to help you build a smart plan.
