Single women are finding their match in new homes. Today, 1 out of every 5 homebuyers is a single woman. Single men account for only 1/2 that many home sales, according to the National Association of Realtors (NAR).
So, what’s the driving force behind this trend?
Many women who choose to become homeowners say that the decision makes them feel empowered. It’s the idea of doing something for themselves – not to please a boss, a parent, or mate.
Remember, it wasn’t that long ago that it was difficult for a woman to get approval for a credit card — much less a mortgage loan — without a signature from her husband or father.
Financially speaking, many women are earning more money these days, making loan approval more likely and making the buyer more confident about taking on that monthly mortgage payment. Add to that the fact that interest rates are still relatively low, and you’ve got a good foundation for buying a home.
For most single women, owning their own home signifies strength and feelings of accomplishment; when house hunting it allows her the freedom to choose the size, location, style and price.
There are many reasons why single women buy homes, many of the same reasons couples decide to buy; to relocate closer to a job, school or family or the desire to own a home and lay down roots, boosting their credit scores, etc.
So remember, single women home buyers come in all sizes, shapes and ages. They are divorced, never married, separated, widowed; some have children, others live with friends or partners and many live alone.
Whether you’re male, female, single or married, home buying is a rite of passage unlike any other. A home of your own provides a feeling of stability — and offers an unmatched sense of pride.