A Look at Women Homebuyers

This month’s Realtor Magazine had an interesting article on the demographics of women homebuyers. These single women make up 21% of all buyers - that’s 1.7 million, making them the second largest home buying category next to married couples. And these women aren’t just single moms or divorcees, but now include a younger crowd of women in their 20s. Some are even buying second properties to rent out as additional income. And the median price that women spend on property is very close to what single men spend - $139,000 vs $142,000.

According to the article, single women are most concerned about safety and being close to family, friends, and work. The article gives a rough profile of the “average” single female homebuyer:

• They’re more specific in terms of how big they want the property to be and how much they can afford.
• They generally look longer than men.
• They tend not to spend as much as lenders are willing to give them.
• They are detail oriented when it comes to negotiations.
• They tend to buy based on emotional connection to the house and form a deeper attachment to it than men.
• And many will buy remodeling projects.

» Read article Growing Niche