I just love working with first time home buyers and the fastest growing demographic of first time buyers is one that I can really relate to– single young women. Purchasers are realizing that in most areas it is 66% cheaper to buy a home than to continue to rent. With interest rates still low now is the perfect time to start looking for a house and women are realizing that. One in five purchasers is a single woman. In fact, twice as many single women are buying homes than men. Since 1994, single women have generated 1/3 of real estate sales.
As a single female homeowner, I can tell you that the reward of having a place that is truly your own is wonderful. I walk in my door and I get such a sense of pride and elation (except for right now, it’s kind of a mess so I get a sense of anxiety). I had a great time picking out decor, fixtures, and paint. I have really created a home that I love. It’s a wonderful place for gatherings and not a week goes by that I don’t have people over for a meal.
Female homeowners are more likely to compromise on size and cost to get other amenities, but will not compromise on location or quality of neighborhood. Single women are looking for close proximity to stores, shopping, and fitness centers. They also want to engage in social interaction with their neighbors. I absolutely love that my neighbors, though much older than me, host things like ice cream socials for the neighborhood. Three out of four women will spend less than $200,000. In our local market this can get a lot of bang for your buck.
Most prefer a home with two or more bedrooms, but are okay with smaller spaces. One thing to remember is that while you may be single when you purchase your home that might not always be the case, so a home with room for growth is most desirable. I think one thing that all women look for is closet space. Many want new or newly renovated homes without a lot of maintenance. My home was completely redone before I moved in, so even though it looks old on the outside, it is brand new on the inside. It has all new systems and is really well insulated to keep my monthly utility bills manageable. And, even though it’s practically brand new it still doesn’t have enough closet space.
There are so many advantages to being a home owner. I love being a resource for all home buyers, first time or otherwise. Feel free to reach out via email or phone for any questions that you might have or to schedule a showing to find your perfect home today!