During 2010, unmarried women consisted of 20 percent of every home buyer
In a study by the National Association of Realtors. These figures are greater than the 12% of single men that bought homes all through the same period.
It's not exactly clear why there is discrepancy separating single men and single women. Although, some experts maintain that having their own home and a feel of fitting in are two major reasons that trigger single women to concentrate and purchase real estate.
Those real estate experts are right on. The Joint Center for Housing Studies finds that the three chief reasons that drive single women to buying a home today are: relocation for family or job; more space; and just to have
their own home (called nesting).
This new trend toward female home buyers is instigating builders to include some additional features slanted toward attracting more single women. Builders of new homes have begun featuring gourmet kitchens, additional security features, and low maintenance yards .
Naturally, the other undeniable reason for everyone, including women that are single, to purchase a home now, is the historically low rates of interest.
Experts agree that buyers have become more aware than ever before. They're up on the market and in general have a pretty good vision of the kind and style property and neighborhood they desire.
So, just what exactly are single women home buyers seeking? Location is not the sole reason that attracts them. Single women buyers desire a great location, excellent price, a home that's in reasonably good condition, plus a home that could be rentable. The home does not need to be new, although it should have had some TLC by it's previous owner.
They are looking for a good price. They want a price which won't hold them back from having the benefit of their single style of life. Financial experts suggest that a monthly house payment should not be in excess of 28 percent of homeowner's pre-taxable monthly income.
One more interesting observation, is that while single women home buyers come from many diverse age groups and lifr phases. A few are are fresh from college and not yet married, others are now widowed, divorced, or never been married, while others have grown children who've left home (means a downsize).
These things cause this home buying group to pay considerable attention to items such as neighborhood rental properties, proximity to shopping and entertainment, and, of course the all-encompassing concern, the mortgage payment compared to the monthly rental that could be obtained for the property?
Single women home buyers are aware that their circumstances could change so they have a need to stay prepared. Ensuring that the property can be rented is most often a key concern of this group.
Lastly, although single women are purchasing homes for their own account doesn't mean that they shop for one alone. They might visit the home with family, friends, colleagues, and naturally, their real estate agent. It's probable they're very aware, so they might be coming by to see the home, not just once, but most likely a number of times and during different times during the day to grasp a feeling for the sun's exposure on the home.
As single women zoom in on owning real estate, it's probable we'll see more home builders and home sellers accommodating the particular requirements of this home buying group which is all about obtaining precisely what they want.