How to Buy a House as a Single Mother

Posted on Jul 11 2011 - 5:58am by admin

It might seem daunting, even to the point of being impossible, but there are housing resources for single mothers with even just one income. The dream of owning a home in which a single mom may raise a family can be realized by her following some simple guidelines. These include:

Determining the purchase price of the desired house

This can be done by –

  • Not exceeding 26 percent of monthly gross income for house payments, taxes, and insurance,
  • Not exceeding 38 percent of monthly gross income for debt payments,
  • Securing the value of two or three months’ pay checks in an emergency fund.
  • Knowing her cash flow

This involves having ready funds for the monthly house payments, child care, children’s education, and her own retirement.


This involves thinking long term and investing funds over a period of five years, for example.

Having alternatives

These include combining her income with that of a trusted family member and dividing all the various costs involved. Another avenue is getting the IRS to pay her by giving tax credits for every one of her children under age 17, thereby resulting in savings which could add up to thousands of dollars.

Thinking about funding the retirement plan by setting up a good one as soon as possible.

Hiring a Good Contractor

If a single mother is desirous of building, repairing, or remodeling her home, she will require the services of a good, honest contractor who is likely to make the best use of the funds she has acquired. Submitting the lowest bid for the job is not a guarantee of cost savings. If the contractor does a shoddy job the costs may be more than originally bargained. The following are some tips for hiring a good contractor that are worth considering:

  • Look at his experience – this should be at least five years of good quality work, including good habits and performance.
  • Check for a license – to ensure he has a valid one, and also that there are no complaints against him.
  • Check for a bank account – to see whether he is likely to complete your project and can pay his bills.
  • Does he have insurance – relating to workers’ compensation and general liability insurance in order to remove injury liabilities from her.
  • Quality of workmanship – this is best judged on site by visiting similar projects completed by the contractor.
  • Teamwork ability – relating to the amount of self involvement desired by the mother.
  • Good advice!  With the economy the way it is, you would think the market slowdown would make it easier.  Unfortunately, the banks are shutting many of us out!

  • i am a single mom that when had husband did not work out i have a home and no with just my income i can afford to have my roof fix my roof is falling in and can not afford home insurance i need help fast and fast we are in my home and do not make much money i had a home modication loan did that help but now roof is fallingin day by day i need help very bad credit no good air condition went out kids and i had to move in with my mother help me someone please iam trying very hard to do any thing but can not get nothing come to me as a god sent person and put a roof on my house,i live at 622 pennwood ln. charlotte n.c. i have tryed to get homemake over because if i do not get help amost see thought the floor help help  i am her mother and she is so depress that she crys every day   i can not help her i am on disabilty lord i have gave them beds to see on no heat cause of air condition brok please send this to any help so that it is liveablle for her and daughters i am just sick i can not do more please someone come and help her she just has enough to pain mortagedthen next pay day has to paid lights water and no heat their and she want come back here to stay she says mom alli need is help we will stay in here and wrap   up in blankets can not let my kids know i can no do anything about look up you see the day and nite and rains in like ou outside help someone thank you her moher linda smith 704-717-3399

  • any can help my daughterthis is emerg.

  • Kvaikeli

    I am a single mother of 5, we are living off welfare every month n thank God for the love n support of my boyfriend we have a roof over our heads. I am not looking for any handouts, just some advice on how I can go to school for Criminal Justice n still be able to raise my children. I have a 16, 14, 8, 7, n 4 yr old. I am 40 yrs old n was laid off 2yrs ago from a job I loved n looked forward to goin to every day. I worked for youth treatment centers for troubled teens 4 a good 5 to 6 yrs of my life and need  a degree in order to get back into it again. I would love any advice or even a hook up on a job would be very blessed upon me right now. I am willing to work for what my children and I need, and God knows its alot more then what we can pitch in now…still I thank my Heavenly Father for the many blessings that my children and I have received n still are receiving each day of our lives…THANK YOU, DESPERADO:-}