Single Women More Likely To Purchase Homes Than Single Men
3:00 pm, July 11th | by Grace Rasmus
According to the National Association of Realtors’ 2012 Profile of Home Buyers and Sellers, single women make up 18 percent of homeowners, compared to only 10 percent of single men. The report notes that single women have been buying homes at almost twice the rate of single men since the mid-1990s.
There are several possible reasons for this large discrepancy. Childless, single women are actually on track to outearn their male counterparts in many metro areas, allowing greater numbers of women in this demographic to make major purchases such as property. The population of single women with children has also been increasing over the years, and those types of families would probably seek out more living space than an apartment rental could provide.
A blogpost by Redfin reveals that women buying a home are more focused on immediate emotional response: 46 percent of women first evaluate a home based on whether they love it or not, compared to 24 percent of men. Fifty-four percent of women and 76 percent of men evaluate a property based on cost and value.
Although women are more fixated on the “love” factor, they’re not opposed to taking on a fixer-uper in order to have their “dream home,” according to Karen Krupsaw, Vice President of Real Estate Operations at Redfin.
“[Single women] are a very discriminating buyer,” she 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.”
We’re glad that all the single ladies are eager to purchase homes solo, as the rental market is grim and it might make more financial sense to do so anyway. As women start joining the workforce with higher degrees of education in greater numbers than ever before, we’re psyched to see them wield their purchasing power and take the plunge.
(Side note: The only images of solo ladies buying homes I could find involved teeny tiny dollhouses. Get with the times, Shutterstock!)