Imagine this scenario: June Cleaver realizes she is unhappy with
her life as a housewife and now that the kids are grown decides
to get a job at a restaurant. Once she has saved some money of
her own she gives Ward the old “heave ho” and makes plans to buy
her own home. Fifty years ago this type of situation was unheard
of. In fact, fifty years ago if June had decided to leave Ward
she would have ended up with a bad reputation and probably been
turned away by a majority of real estate professionals. Even
though women were legally allowed to own property, American
culture has taken many years to accept the idea of women buying,
owning and selling their own homes. In 2005 single, retired,
widowed, married and divorced women are all a part of changing
the face of the real estate market.
First Considerations: Safety, Community and Convenience
A practical woman looks for a home that suits all of her needs.
Safety and convenience are two of the most important
considerations. Make a list of the most important attributes
your new home and neighborhood must have. Be sure to prioritize
carefully and honestly. You may want to consider the proximity
of schools and daycare. You may choose a location close to your
job or a university where you plan to further your education.
Even the location of the local grocery stores or drug stores can
affect your decision. Many women also choose their neighborhood
in search of community and security. As a single woman you may
not want to live in a suburban neighborhood where the population
consists of mostly married couples and their children. It may be
more beneficial to purchase in an area that has a demographic
more suited to your lifestyle. Condominiums and townhouses are
great options for female retirees looking for less maintenance
responsibilities or a single woman looking for added safety.
Buying a home located above street level with neighbors in close
proximity creates stronger security. Currently, single women
account for at least a third of all condominium and townhouse
sales according to the National Association of REALTORS‚ (NAR).
When making this type of purchase be sure to research the fees
and amenities included in your purchase. Know what your
responsibilities are and be sure you can fulfill them.
First Comes Love, Then Comes Marriage….NOT!
In 2004 single women made up eighteen percent of America’s
home-buying population. The increase of home sales to unmarried
women in the last ten years has caused even the Federal Housing
Administration (FHA) to take notice. During the 1990′s the FHA
began to allow women to report child support as income in order
to qualify for a mortgage. Another factor in this trend,
according to the Joint Center for Housing Studies at Harvard
University, is that women no longer think of marriage as a first
step and buying a home as the second, women are generally
marrying later in life. In 1970 the US Census reported the
median marrying age as 20.8 years and in 2000 reported the
median marrying age as 25.1 years. An increase in the number of
women in executive jobs, as well as an increase in the number of
dual-earner married households, has also changed homebuyer
trends. These changes have inspired the mortgage and real estate
industry to create various programs for nontraditional buyers
like unmarried women.
It Ain’t Over Till The Female Homebuyer Sings
In 2005 a new version of the role of women continues to emerge.
Not only are women buying homes across America, but they are
also renovating, upgrading, selling and investing. Learn more
about these subjects in my next article “I Am Woman Hear Me Roar
Part 2″. Always remember to explore all of your options when
finding a mortgage. Be certain you express yourself clearly to
your real estate agent or mortgage broker, let them know exactly
what you want and don’t settle for less. To read more
educational articles on topics such as “I Want To Hold Your
Hand: First Time Homebuyers”, “Buy Now Retire Later: An
Investment In Your Dreams”, and “More Bang For Your Buck With
Mortgages” please visit my web site, VoncannonRealEstate.com.