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Own It! The Ups and Downs of Homebuying for Women Who Go It Alone by Jennifer Musselman. $15.95; Seal Press / Perseus Books Group
 
Guide for single woman buyers
November 16, 2008

Twenty percent of homebuyers are single women, according to the National Association of Realtors. Reasons as to why the percentage of single women homebuyers has increased over the years include delaying plans for marriage, improved education, better jobs, better financial know-how and higher divorce rates.

A new book offers some tips to this underrated category of homebuyers.

The notion of buying a home alone was intimidating, writes Jennifer Musselman, author of Own It! The Ups and Downs of Homebuying for Women Who Go It Alone. "Information about loans, down payments, taxes and contractual obligations was dizzying and confusing," she writes.

"But beneath my anxiety, the anticipation of really purchasing a property all on my own pulsated throughout my body. This was a chance to grow and prove to myself that I was capable of anything I set my mind to."

It's so important to get as much info as you can, she says. "Throughout the homebuying process, keep up with events in the newspaper or online that might affect the housing market in the region in which you intend to buy.

"You also will want to consistently monitor interest rates and loan options available to you. Depending on how long your hunt takes, these variables will likely change."

The "Dirty Little Costs of Homebuying" chapter provides tips for down payments, property taxes and insurance. Musselman also laments funky adjustable rate loans, 100 percent financing and ridiculous lender fees. Like everybody else, she hopes lenders and homebuyers have learned their lesson and set more realistic expectations.

The "Hipster or Homebody?" chapter covers where to look for a home. "The Strong, Silent Type" takes on safety concerns. Prequalification, preapproval and credit are noted in "Your One Shot to Make a Lasting Impression." The feeling of "buyer's remorse" is detailed in "Can You Get An Annulment?"

Own It is loaded with personal anecdotes. For example, a boyfriend seems hurt that Musselman was considering making the huge homebuying decision without consulting him.

Trials and tribulations of her friends and colleagues are detailed, too. Maria and Matt decided to buy a home before getting married.

"Living together made us realize we weren't right for each other after all," Maria says. "Our breakup was painful. But in reflection, I can honestly say that had Matt and I not initially bought the house together, I don't know if I'd have considered doing it by myself."

Musselman bought her first home in Santa Monica, Calif., in 2006. But she says her dog, Leo, is actually the boss of the household.

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