Women Arent Waiting For A Man Or A Marriage Before They Buy A Home Nowadays

Women Arent Waiting For A Man Or A Marriage Before They Buy A Home Nowadays

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Single women may not have as much buying power as single men, but they aren't letting that stop them from achieving homeownership. While a 2018 Zillow study indicates single women can only afford to purchase 39 percent of U.S. homes on the market, they are buying them at a rate that far exceeds that of single men, who are able to purchase more than half of the homes currently for sale.

Eighteen percent of homebuyers in 2017 were single women, according to the National Association of Realtors. Meanwhile, only 7 percent of single men bought a home last year. The association notes the percentage of homebuyers who are single women has risen for the last three years and is up from 11 percent in 1981.

As for why women are buying homes in greater numbers, professionals in the real estate and finance industries point to delayed marriages, higher incomes and personal satisfaction as main catalysts.

Reasons single women buy homes. Shant Banosian, a branch manager with Guaranteed Rate in Waltham, Massachusetts, and one of the company's top loan officers, says his experience mimics that of the NAR findings. "My second-biggest class of homebuyers is single women," he says, adding that they account for about 20 percent of his buyers. Banosian says he has a significant share of women buyers who earn six-digit incomes and find it makes more sense financially to buy a home that will gain value rather than rent.

However, it isn't only working women who want to buy a house. "At least once each month, one of our 60-something, single female clients schedules a meeting with us to discuss the best way for them to buy a home," says Drew Kellerman, founder of Phase 2 Wealth Advisors in Gig Harbor, Washington. "In most cases, these successful ladies are retired," he explains. Many times, the single women are looking to downsize after retirement, the death of a spouse or a divorce.

Maria Daou, an agent with Warburg Realty in New York City, notes parenthood is what spurs some women to buy a home on their own. "More women are choosing to remain single and have a child or children on their own and want to own a home to raise their kids in," she says. The Pew Research Center found 53 percent of unmarried parents in 2017 were solo moms. COURTESY OF  Maryalene LaPonsie, Contributorhttps://realestate.usnews.com/real-estate/articles/the-rise-of-the-single-female-homeowner 

Jeff Watts Headshot
Phone: 931-980-5348
Dated: July 26th 2018
Views: 234
About Jeff: Jeff Watts has been part of the Clarksville and Fort Campbell community since 2002. He retired from ...

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