Single women are taking courageous steps to dive into the real estate market with confidence. According to the National Association of Realtors (NAR), about 15 percent of recent homebuyers were single females, which makes them the second-largest recent home buying demographic after married couples.
So what has contributed to the market shift? Simply put, single women are educated, earning and saving more money. Women are fast becoming our most educated workers – they are attending school at higher rates, and they are entering a wide range of careers and deepening their work experience. They are breaking the barrier of the glass ceiling and confidently securing corporate level positions and operating small businesses. They are also embracing entry level positions through dedication and hard work.
Single woman are exercising their courageous abilities by capitalizing on the opportunity of home ownership. They are attending homebuyer seminars and taking courses at the Housing Counseling Agencies. They are interviewing qualified loan officers who can pre-approve them for a loan and securing a real estate agent that has experience and strong area market knowledge. Taking these preliminary steps has contributed to the success of homeownership.
Jessica Lautz, director of survey research for the NAR, pointed to surveys that demonstrate that women place a higher priority on home ownership and have a willingness to give up more in order to attain that goal. They make many sacrifices like cutting spending on entertainment, on luxury items they don’t necessarily need, on clothing, even getting a second job. And consistently, single female buyers are making those sacrifices more than other buyers.
Karen Krupsaw, vice president of real estate operations at Redfin, a real estate company, said women home buyers take into account more than location when looking at a possible purchase. “[Single women] are a very discriminating buyer,” Ms. Krupsaw told the New York Daily News. “I don’t think they’re unrealistic. They can see beyond the way [a property] may show as well as how they can fix it up and how it can be a dream home.”
Still, many women may believe that their life circumstances will not allow them the ability to purchase a home. This perception leads to missed opportunities. There are many sources that will help you bring your dream of homeownership to reality.
For more real estate information you may contact Yvette C. Page, President of Callum Page Realty Group directly at (213) 256-6363 or [email protected]