Why Buying Your First Home as a Single Person Feels Impossible and the Smart Move That Can Change That

Trying to buy your first home as a single person right now? You’re not imagining it it is incredibly hard. Prices in the area have pushed even modest starter homes out of reach for many. A basic single family home often starts around $345,000 or more while even townhomes are hitting the $300,000 plus mark.

Unless you’re walking in with a 20 percent down payment (which is nearly $70,000 on a $345,000 home), your monthly expenses including mortgage, taxes, insurance, and maintenance can easily land around $2,000 or more. That is a huge commitment for one person to shoulder alone especially when it’s not dramatically cheaper than renting a comparable home. And unlike years past fewer people are willing to buy a home with roommates just to make the math work. Most buyers want privacy and independence not to continue the college housemate lifestyle into homeownership.

It’s easy to feel demoralized like renting forever is the only path forward. But there is a creative workaround that can open the door to ownership without compromising your space or sanity.

Buy a Duplex

Hear me out. Buying a duplex is like house hacking without the awkwardness of sharing a kitchen. You live in one unit and rent out the other. That rent can offset a significant portion of your mortgage sometimes enough to cut your payment in half or more.

In fact many lenders count the projected rental income when calculating how much they will loan you which means buying a duplex can actually increase your buying power. So while a $345,000 single family home may feel out of reach you might qualify for a $400,000 plus duplex because part of the cost is essentially being covered by someone else.

Sure being a landlord is not for everyone. But if the idea of dealing with tenants stresses you out you can hire a property manager to handle everything from tenant screening to rent collection and repairs. You stay hands off while still benefiting from the extra income.

The Bottom Line

If you’re single and trying to break into homeownership don’t let the traditional single family path box you out. A duplex can offer the financial relief of a shared expense without the shared living space. It is an investment in your future that gives you stability, equity, and a shot at building wealth without compromising your independence.

You don’t have to settle for being a lifelong renter. You just might need to take a smarter route to get your foot in the door.