The first house for single women is able to be purchased for these seven reasons.
Singles account for nearly half of the American population and single people have more purchasing power than ever before today. However, when it comes to real estate, single women are buying homes more than single men. Single women are making the most of their rise in careers and putting their money towards getting a house. These are seven reasons why single women are purchasing a new home compared to single men and the criteria of a first house for single women.
First House For Single Women Buying Real Estate
Single women are graduating from college at a higher rate than men which means that they are able to get more stable jobs that pay more compared to their non-college educated single counterparts. This has resulted in the rise of the single career oriented women who has financial freedom and does not need to rely on a spouse when it comes to making large purchases. Single women are able to make those purchases on their own. A first home is normally one of the large purchases that someone makes in life.
Women save more than men. This puts single women in a better position to save up for their first large purchase and to have the monetary resources to purchase a home. It has been found that single women spend on average $200,000 on their first home purchase.
It has been found that women are better investors than men. This is an asset to single women to increase the value of their money to prepare for the purchase of a first home. Investing and saving work together to prepare anyone to purchase a first home, but single women are better at it compared to their single male counterparts.
Location. Location. Location. This mantra drives the real estate market. Single women are willing to spend more money to get a smaller house in a more desirable part of a city. The location of a first house for single women are often close to fitness centers, shopping centers, and stores. Single women prefer to be in the city compared to being in the suburbs. They will compromise on square footage to be in the city, especially a hot neighborhood. The house for single women needs to be in a good part of a city where they can access a range of activities to fit their lifestyle.
Single women place a premium on security in the house that they purchase. The common types of security that single women desire are to be in a gated community, gated access, or to know that the house and neighborhood have security in place for residents. Single women can add additional home security with smart security devices for twenty-four hour surveillance that can immediately call the police if something happens to them or to their house.
Single women prefer purchasing condos over traditional houses. Condos usually do not have yards that single women need to take care of and are more often centrally located in cities compared to houses that are in the suburbs. For this reason, the first house for single women will most often be a condo.
The first house for single women often has two or more bedrooms. This allows them to have guests to come over and to stay with them or to start a family with the extra rooms. If an extra room is not being used, it can be used as their personal office for their work or their home business. Single women recognize that there are benefits to having more than one bedroom when purchasing their first house or condo.
Single women are making the move to purchase a home or condo because they want to own their own home instead of paying rent each month. The first home for single women will often have more space or be a smaller home, depending upon the location of the home and what the woman real estate shopping is willing to compromise on. The first home for single women is often purchased in order to be closer to their family, work, or school. Single women are a growing force in the real estate market and they show no sign of slowing down.