4 Tips to Help Independent Women Afford a Home

Looking for a new pad? Women today will no longer settle for being a homemaker and would rather pursue a big career and build big for the future. These women only have two things in mind, and that is to watch over themselves and prepare for a future family – should the right man come along.
Moving home

First things first, you need to get your finances in order and adopt money management skills to save up. If you’re looking for a new pad, there are also a few practices that can help you look for the best home loan and make the most out of your hard-earned cash.

As an independent career woman, here are ten tips that can help you afford your dream home and ideal life:

Improve Your Credit Score

Shopping is a pleasure that most working women enjoy. Unfortunately, it is a costly habit that can endanger your hopes of achieving your big dreams. Remember that when looking for home loans, you need to look attractive to lenders and have a nice credit profile.

Your first priority is to pay off your debts, including your credit card and personal debts. There are two advantages of settling these liabilities beforehand. First, this will make your credit profile more attractive to lenders. Two, this will help you keep your future budget focused on paying off your mortgage. Make sure you start paying on time before you even consider borrowing money. Improvements with your payment habits will only reflect in your history after 30-60 days.

There are also a few things you can do to improve your creditworthiness fast. First, you can try negotiating with the credit card company to list your next settlement as “Paid as Agreed”. You should also try going below your credit limit or just about 30% to have a better Credit Utilization Ratio. Also make it a habit to check your credit card bills and verify if there are no billing errors.

Manage Your Spending Habits

To help you save up for your first down payment, you should adapt to better spending habits. Limiting your credit card use is a step in the right direction. However, you also need to start practicing frugality in your other expenses. For example, do you really need that new designer bag? How about that new makeup kit?

Remember that there is beauty in being frugal. It helps you gain the sense of taking charge for your future. You can learn a lot of habits that will help you attain this, from coupon shopping to adopting a natural skincare routine. All these will help you save a lot of money in the long run.

Even better, you should try selling the things that you already own, but no longer need. Let’s face it – it’s impractical for a person to have that too many clothes or shoes. If you haven’t tried selling online before, then you should know that you can make thousands of dollars by selling your old stuff – from clothes to jewellery.

Get Preapproved

Before you start looking around for a new pad, it’s better to be preapproved for a suitable loan amount. This can help you save time from looking at houses you can’t afford. It will also help you close your deal faster.

The first checklist to being preapproved is to prepare your financial documents. This includes your tax returns, W-2 forms, 1099 forms, banking statements, student loans, and all the other documents that affect your financial background. A lender will go over all these information before writing a statement that basically approves you for a specific amount.

Remember that your preapproval is only likely to last for 30-60 days. Fortunately, it is a lot easier to find and close a home purchase once you’re preapproved. The next step is to truly develop your financial intelligence to secure a stable life for your future.

Get Financially Educated

Getting educated financially should be a priority in every working woman’s checklist. In the future, it’s best not to rely on someone – be it your husband or parents – when it comes to your finances. You worked hard for your money, so you should be in charge on how to manage it, specifically how to make your cash grow.

The key here is to learn how to invest and make your money work for you. Fortunately, there is never a short supply on books and learning resources that can help you educate yourself financially. Websites like Forbes and Investopedia also offer a great deal of information that can help you learn and grow financially.


The final step is to start setting new financial goals for yourself and your future family. Once you accomplish the milestone of buying your own home, it will be unforgettable. It will make you feel like you can achieve just about anything. This should motivate you to aim higher and achieve far greater than what you already have.

About the Author:

Steve Caddick is a digital marketing consultant with five years experience and loves to share knowledge and information with readers. Loves doing anything with smile