From the time she graduated from college in 1993, Annie McDonnell dreamed of owning her own home. She liked the idea of building equity rather than ''throwing away money on rent'' and living without landlord restrictions on her cat and dog. To save for a downpayment, McDonnell lived rent-free with her parents on Long Island, N.Y., and commuted to Scholastic Publishers in Manhattan, where she is a production editor. It feels great to own my own home and do whatever I want to it,'' she says. If you're a single woman and have thought about buying your own home, you're not alone.
Single women are the second-largest segment of home buyers, behind married couples.
And, reports the U.S. Census Bureau, more single women owned single-family homes than rented them. In addition, the sociological and financial barriers that once kept unmarried females from buying homes are crumbling. Government programs that encourage home buying have made it easier for single women and single mothers to qualify. I asked myself if I really had to live in a one-bedroom apartment just because I'm single,'' she says. Tax benefits motivated Cabaniss, but she had some concerns about the commitment before she made it.