“A Woman’s Place is in Her Own Home”
A lot has been said about first time homebuyers, but did you know that single women account for more than 20% of homebuyers and over 40% of first time home sales? Women are a force to be reckoned with in the real estate market! So what drives the female buyer?
Women, more than their male counterparts, see homeownership as a means to financial security. Why pay rent to build someone else’s equity when they can build their own wealth? Homeownership gives women tax benefits that renting can’t, and with interest rates at ridiculously low rates, women buyers believe buying a home gives them long-term stability, while they work and after they retire.
While men look at where they can relax in their new homes, women look at how the various parts of the house will make the family’s life better. A well-functioning kitchen is the backbone of our home. We want lots of useable storage space and modern amenities. Many women buyers want new construction, and builders who cater to what women want and need, have done well, even in a down housing market.
Where do women buy? Condos offer an environment where women can maintain the interior, while someone else takes care of the grounds. We like to live in urban areas where shopping, dining, and activities are easily accessible. While our male counterparts are satisfied with 1 bedroom apartments, women buy 2 bedroom properties, maybe because we see them as a place our grown children can come home to visit.
Women usually spend less than men, partly because we traditionally earn less. We’ll compromise on the size of the home to get the neighborhood that makes us feel comfortable and safe.
Women want an agent that’s accessible, with great communication skills, and the patience to look at as many properties as it takes to find the right one. Like women doctors, women agents can give the female buyer a commonality not always achieved with a male agent.
Single Women Homebuyers Online Community of Women Home Owners
What Women Homebuyers Want by Theresa Burney
Wanted Single Women Homebuyers by Alyssa Abkowitz
Single Women Are Homebuyers by DoItYourself Staff