According to the National Association of Realtors, while married couple still bought the largest share of the real estate market, it is single women whose who are increasingly buying homes. Single men, on the other hand, were last of the list.
What is the new change in trend and why and how are these women able to invest in real estate?
Reasons for the changing trends
There are several reasons for women to turn to real estate as a prime investment. Firstly, despite the disparity in wages, women are earning more than ever in the present times. This greater financial freedom gives them a choice to invest in something substantial and long-lasting.
Another major reason is the rising rental costs. In fact, according to a report in Washington Post, 23 % of women have cited rising rentals as the sole reason for purchasing a place of their own.
What is significant is that several older women are also buying properties now more than ever. It was estimated that most of the home buyers were in the age group of 51 to 60.
Older women might be investing in houses as a part of downsizing the family either after a divorce or after the death of a spouse. They have the money and they are not hesitating to spend it. In addition to that, they want to be able to control the monthly expenses and have some stability in their lives which an own house can provide. Many of them are buying houses close to the residence of their children and friends.
How do single women purchase property?
Unlike men, for women buying a property is a very emotional decision and they put a great deal of thought into buying a property. They take the opinion of their friends and family before they take the plunge. They want their advice on the plumbing, the electrical wiring and other repairs in a house. They also consider safety before they purchase their own home.
Sometimes down payment may prove to be a hurdle for single women who want a place of their own. They can either choose help from the Federal Housing Administration loan or the USDA loan to meet their down payment requirement. They can also try their hand at stock market with trading robots like the QProfit System which have been designed to help investors gain a foothold in the trading world with the promise of decent profits.