Nearly one-quarter of first-time buyers are single females who purchased their first home on a median income of $47,400.
Women are not waiting around for their soul mate to show up to buy a home, they are going out and getting it on their own. According to The National Association of Realtors 2008 Profile of Home Buyers and Sellers, women are becoming the second largest group as homebuyers. In 2008, 2.0 million (23%) of single women were homebuyers due to higher divorce rates, delayed marriages and longer life expectancies. Women are also making more money giving them the income necessary to purchase a home.
Becoming more educated and financially stable has given single women the confidence to procure a home. They make sure to research and read every single line of an application or contract before purchasing a home. Females understand that homeownership will bring them tax benefits. They realized that buying a home is an investment that will benefit them in the future. Purchasing a home gives them a sense of security, economically, and a place to live when they retire. Since women understand that a good home investment brings equity, many of them are investing into buying a second home.
-Single females accounted for 13% of all second/vacation homebuyers in 2001/2003, according to the Realtors Profile.
-Single women purchased approximately one in five homes in 2003, while men purchased more than in 10.
-More women (15.5 million) than men (11.8 million) lived alone. Among these, women were more likely than men to own their homes (56% vs. 47%).
-In 2001, the total homeownership rate was 67.8% overall, 49% for single mothers, 51.9% for single women without kids, 69% for single men with children; for racial and ethnic minority women overall, homeownership rate is only 35.5%. (2001 Census)
-Fannie Mae predicts that by 2010, women headed households are to increase to nearly 31 million-close to 28% of all households in the country.
If you would like more info on buying a home please contact Linda Wieczorek
Azhomes4u@gmail.com
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