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Singles flock to suburbs

Coldwell Banker survey finds singles chasing bargains

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While young Millennials seem to have a preference for suburbs, they're not the only ones. Singles of all ages are more likely to buy a home in the burbs, according to the results of a survey by national brokerage company Coldwell Banker Real Estate. The company conducted a national online survey of 1,050 single homeowners in April. It found that 52 percent of singles chose to buy in suburbia rather than getting "bachelor or bachelorette pads" in urban or rural areas. The reasons behind that preference may have a lot to do with finances -- 53 percent of respondents said they bought a home because it was more cost effective than renting in their area, the company said.Diann Patton, Coldwell Banker Real Estate's consumer specialist, said in a statement that singles and first-time buyers, among others, "can afford much more house for their money than they may have been able to in previous years. Many are recognizing that a mortgage payment on a house can actually be t...