Fierce and sassy, well equipped with confidence and a pay cheque to back it, single woman home buyers are taking the real estate world by storm. According to the most recent (2007)stats from the National Association of REALTORS®, single women accounted for 22% of all home purchases with single men trailing behind at just 9%. One in five single women are taking the bull by the horns and plunging into home ownership!
So what are the driving forces behind this growing trend? Here are my thoughts:
1. Women are more organized. Face it guys, we have you beat here ; ) and with all that organization comes the discipline needed to scrape together a down payment. It's also that organization that helps us keep our bills paid on time protecting that much needed credit score that's so very important at mortgage time!
2. Women are making more money and are feeling the independence that comes with a bigger pay cheque. No more waiting for Price Charming or Mr. Right to make our real estate dreams come true. Our focus instead, has shifted to "The Mortgage Guy", the REALTOR® and perhaps the cute guy at Home Depot!
3. Women are (generally) more likely to "do their homework" before embarking on a big purchase. In the home purchase process, that can mean anything from getting pre-approved for a mortgage, to interviewing REALTORS®, to checking into the cost of renovations before viewing that "fixer-upper". Knowledge is power and familiarity with things such as the steps to buying a home or how much home you can afford makes the transaction smoother and less stressful for everyone!
I bought my first home (with the help of my parents) as a single 23 year old girl. It's where I lived when I met my future husband (now my current beloved!) and we said our wedding vows in that very back yard. We've since moved on together to our second home, but I got to take with me some wonderful memories not to mention a few extra greenbacks from that sweet little starter that I had the courage to go it alone on!
For more information on how to get the ball rolling have a look at First Time Home Buyers in Lethbridge - 3 Great Reasons to Buy Now and The Steps to Buying a Home. Or you can check out a great little book by Brenda Bouw called Home Girl - The Single Woman's Guide to Buying Real Estate in Canada.
You can also visit us at Lethbridge Real Estate for more tips on home ownership and how to make it happen!