There is an interesting trend that I have noticed in my business, ?the number of single women buying homes, let?s call it ?Mortgage before marriage.? Based on studies done in the United States, in the past 25 years, the percentage of single female homebuyers has nearly doubled, making unmarried women the second largest group of buyers behind married couples.
According to a Homebuyers report conducted by Maritz Research in Canada in 2004 they see that women are an increasingly significant part of the market. Among the potential buyers surveyed ? over half the women & men believed it is important to be in a long term relationship before they buy ? however a full 30% of women intend to buy their first home alone with their name as the sole one on the deed.
Women are using their purchasing power to invest in real estate and have little concern about doing it alone.
I know in my business that the number of single women buying a home is increasing, and the statistics confirm this trend. Women are highly educated, have excellent jobs, make good money and have realized there is no reason to wait for Mr. Right to make the right financial decision. ?Buying a home is one of the best, long term investments you can make.
Put very simply, you either pay your own mortgage or you pay someone else?s. Everyone needs a place to live, but a home is so much more than that. It?s a place of comfort that you come home to at night, it?s where you celebrate holidays, enjoy meals with friends and family and put down your roots. Isn?t it nice to know that while you are enjoying your home, it?s quietly going up in value, on average 5% per year, and through your mortgage payments your equity in the home is increasing as well. You can?t live in an RRSP or a 401K.
Now, of course I realize that not all real estate increases in value all the time, and with the recent housing crash in the States, one could argue that you could end up on the wrong side of a real estate investment. ?In Canada we?ve enjoyed very healthy appreciation in house values over an extended period of time. It?s not a straight line of increases, and corrections do happen from time to time, but our banking system and conservative lending practices have helped to keep speculation out of the market and steady, predictable returns in real estate have prevailed.
Smart Women buy real estate to build financial wealth and secure their future. Don?t wait to buy real estate, buy real estate and wait.
Helga Teitsson represents both home buyers and sellers in the most desirable and vibrant neighborhoods in Toronto. Whether you are looking to buy or sell a condominium, a single family home or income property, Helga is there to direct and guide the process every step of the way.
Twitter: @helgashomes
Facebook: Helga?s Homes
Linkedin: Helga Teitsson
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