women buying real estate

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Article about women buying real estate:
Today we're looking into how they're changing the game. How single women are changing the real estate market. Across the country, single women are changing the real estate game.

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It’s commonly thought that to buy a home, you should go in with someone. A spouse or a roommate. And while that may work for some, there are plenty of single women out there who have bought their own home. In a 2020 report from the National Association of Realtors , single women made up 19% of home buyers whereas single men made up 9%. Thinking of joining them? Today we’re looking into why you should take the leap and purchase your first home if you’re single! Background. There’s a growing trend in single women who are buying their own home. According to a report by Lending Tree that took information from a 2017 Census Bureau study, single women are more likely to own their own home than men in America’s 50 largest metro cities. In total, women own about 5.1 million homes. There’s no better time to buy a home. The real estate market is experiencing a boom right now and mortgage rates have record lows . so if you’re a single woman, you should absolutely take advantage of this. Still not convinced yet? We’ve detailed a few reasons why you should take that step into purchasing your first home. Why single women are buying their own homes. There are a number of benefits that come when you purchase your own home alone. It may sound like a scary step to take and while it definitely can be, it’s also hugely beneficial once you do. With that in mind, we’ve outlined a few reasons why we think single women are more inclined to purchase their own homes. No compromise. If you’ve rented before or if you had to share a space with someone, you probably know about compromise. Sharing a space with another person requires that you come together and compromise in order to keep the peace. If you rent, you’re subject to what your landlord may want and this often limits you on choices you’d like to make for your space, such as how you decorate or pets you may have. But buying your own home frees you up from having to compromise. If you’re a single woman, this also frees you up from having to compromise with a partner or roommate on the things they want that you may not want. You can do what you want and decorate your space how you want or incorporate the things you want and make your space your own. Smart investment later in life. Buying a home can set you up for financial success. If you decide to sell later in life, you can build home equity now. As opposed to renting, your monthly payments will pay off in the future. Not only that but owning your own home forces you to save money and make smarter financial choices. If every month you know you have to set money aside for your monthly payment, you’re less likely to spend money on the things you don’t need. Being a homeowner also affords you breaks on taxes. With the Biden administration , there is talk of eliminating the SALT cap, meaning the state and local taxes can be deducted on home mortgages. Privacy. The days of sharing a space with a roommate or dealing with noises in your apartment complex are over. The perks of having your own home are not having to share it with anyone if you don’t want to. To further ramp up privacy and security, you can even look into setting up a fence or an alarm system. Sense of pride and accomplishment. There’s nothing that matches the feeling of pride that comes when you buy your own home. After all, you worked hard for it! Buying a home isn’t easy for anyone. But when you do manage to do it, it’s a big deal and a major accomplishment. And if you buy it alone, that’s an even bigger feat and something you should be proud of! Still on the fence? We also want to highlight a few of our amazing Plum homeowners . These are women who took the plunge into homeownership! At 21, Nikkie works as a therapeutic radiographer and purchased her first home in Yorkshire, England. Her biggest tip to buying your first property? “Don’t rush yourself!” she says. “Continue to have persistence and motivation to achieve your goal & it will happen.” Ashley is a single mom who works as a purchase auditor for a mortgage company. She purchased her first home for herself and her daughter. “Write out all your barriers or things that prevent you from buying a home and then search for the solution for each problem,” she suggests. As a bookkeeper and health and fitness coach, Baylee purchased a ranch style home. At the time of her purchase, she worked full-time while being a full-time student.













women buying real estate