A 2012 report by the National
Association of REALTORS® revealed that unmarried women make up 18
percent of those shopping for homes, compared to just 10 percent of
single men. The report also noted that single women have been buying
homes at almost twice the rate of single men for about two decades now.
Considering that it was only 45 years ago when the Fair Housing Act of
1968 was passed, making it possible for single women to finally get
approved for a mortgage without a man’s signature attached, women have
come a long way in the home-buying game.
Perhaps that’s why real estate agents often direct their clients to make a home more appealing to women—especially homes that are on the smaller side, as they typically attract this burgeoning demographic. Other features that go a long way toward catching the eye of single women who are ready to purchase a home include gourmet kitchens, security features and yards that require little or no maintenance.
When it comes to looking for homes, housing experts say there are numerous reasons why single women may be in the market to make a purchase. Single women often look to buy a place of their own in order to be closer to family and friends, to change jobs, or simply because they desire to own their own space. While some women look for a house right out of college, the greatest percentage of those buying homes fall in the 42-52 age range.
One of the most important things to a single woman looking to purchase a home is the safety of the home and the neighborhood itself. While sellers may not want to spend the money and invest in an alarm system or new windows, these home improvements may just be the icing on the cake when it comes to attracting this demographic.
Single house hunters also generally like to be in close proximity to retail, dining and entertainment venues, as they’re looking to meet others who are of similar age and lifestyle. Therefore, it’s a good idea for sellers to put together a list of some of the top hot spots in the area and leave it for prospective buyers who come to look at the house.
As with any other buyer, single women are looking for a good price, one that won’t stop them from enjoying their single lifestyle. Experts recommend that a monthly mortgage should not exceed 28 percent of a borrower’s pre-tax monthly income, and it’s important for house hunters to keep that figure in mind when determining what they can afford.
And since many single women may be looking to tie the knot at some point down the line, many are often on the lookout for a space that can be rented out in the future should their romantic circumstances change.
To learn more about this growing demographic, and how to appeal to their tastes, contact our office today.
Perhaps that’s why real estate agents often direct their clients to make a home more appealing to women—especially homes that are on the smaller side, as they typically attract this burgeoning demographic. Other features that go a long way toward catching the eye of single women who are ready to purchase a home include gourmet kitchens, security features and yards that require little or no maintenance.
When it comes to looking for homes, housing experts say there are numerous reasons why single women may be in the market to make a purchase. Single women often look to buy a place of their own in order to be closer to family and friends, to change jobs, or simply because they desire to own their own space. While some women look for a house right out of college, the greatest percentage of those buying homes fall in the 42-52 age range.
One of the most important things to a single woman looking to purchase a home is the safety of the home and the neighborhood itself. While sellers may not want to spend the money and invest in an alarm system or new windows, these home improvements may just be the icing on the cake when it comes to attracting this demographic.
Single house hunters also generally like to be in close proximity to retail, dining and entertainment venues, as they’re looking to meet others who are of similar age and lifestyle. Therefore, it’s a good idea for sellers to put together a list of some of the top hot spots in the area and leave it for prospective buyers who come to look at the house.
As with any other buyer, single women are looking for a good price, one that won’t stop them from enjoying their single lifestyle. Experts recommend that a monthly mortgage should not exceed 28 percent of a borrower’s pre-tax monthly income, and it’s important for house hunters to keep that figure in mind when determining what they can afford.
And since many single women may be looking to tie the knot at some point down the line, many are often on the lookout for a space that can be rented out in the future should their romantic circumstances change.
To learn more about this growing demographic, and how to appeal to their tastes, contact our office today.
Reprinted with permission from RISMedia. ©2013. All rights reserved.
