In today’s real estate market, more and more single women are becoming homeowners. According to the National Association of Realtors (NAR), 19% of all home buyers are single women, compared to just 10% of single men. If you’re a single woman looking to buy a home for the first time, this can be encouraging. This means other people are living their dreams too. You can do the same.
Why is home ownership important to many women?
For many single women, buying a home isn’t just about owning a home, it’s also a smart way to invest in your future. Homes typically increase in value over time, making them a great way to build equity and net worth. Ksenia Potapov, economist at First American says :
“. . . single women are increasingly pursuing homeownership and reaping its wealth creation benefits.”
The financial security and independence that home ownership provides can be life-changing. And this effect is even more pronounced when personal motivations for buying a home are taken into account. The same NAR report lists the top reasons single women are buying homes today, but in reality they’re not all financial (see chart below).
If any of these reasons appeal to you, it’s time to shop.
Work with a real estate agent you can trust
If a single woman wants to buy a house, it is possible in the current housing market. You want to make sure you have the perfect real estate agent on your side.
Talk about your goals and why being an owner is important to you. This allows the agent to guide you through the buying process and highlight the most important points. They will help you find a home that suits your needs and protect you during negotiations. Together, we can make your dream of owning your own home a reality.