You know the saying. You go Girl. It is kind of like the female version of that jump in the air high five thingy? Whatever you guys call it?!! It is something that we say to women when they show us their strengths and that they have overcome or accomplished something major in their lives. We all know that we are stronger than we realize, just sometimes we need a little nudge. So this story will be about women and their strengths when it comes to home ownership.
I work with many first time homebuyers. I love them, they are eager to learn the process from start to finish and they are so proud at the sucess of their first home. It is so cool when that happens. Not to pick on the guys, but I think some women are not sure about this subject.
For single women though, I think some of you don’t think you can’t do it. I think many women still think they need to wait for their Knight in Shinning Armour to show up and that is when these types of life decisions start to take place. Not so I say. As a former single female first time home buyer, I say go for it. You can do it.
Did you know, as a single home buyer you make up about 18% of the home sales across the country?
Here’s how strong you are;
Statistics on women and home ownership
|The single female segment of the home buyer population accounted for 18% of all home buyers in 2004. Single women purchased approximately one in five homes in 2003, while more than one in ten were purchased by single men.
More women (15.5 million) than men (11.8 million) lived alone. Among these, women were more likely than men to own their homes (56% vs. 47%).
About one-quarter of the nation’s nearly eight million single mothers spend more than half of their incomes on housing, compared with one-tenth of households headed by single fathers.
Over the time period of 1994-2002, the number of unmarried females owning homes climbed from 13.9 million to 17.5 million.
Sources: 2007 NAR Profile of Home Buyers and Sellers, (Chicago, IL: National Association of REALTORS®, 2006).
2000 census delivers insights on homeownership, (Community Banker, Mar. 2002).
Many of us are waiting to marry or cohabit later in life, but there is no need to put your life on hold in regard to making a home buying decision. I remember about 5 years ago I had a buyer, a Single woman around 30 who said to me “I don’t know why I put this on hold? I think I have been waiting to be rescued and now I have missed out on buying a home at a lower price waiting for prince charming.” That just smacked me right across the head as an “Ah ha moment”. What are we thinking? We can do it.
Right now, my buyer pool has 3 single, never been married woman, on the hunt for a new home in the Gaithersburg/Germantown area. I am so proud of them and their strength. You should find yourself a REALTOR(R) and a lender that you know and trust to guide you through the transaction. It is not as difficult as you may think. It will be one of the magic moments in your life, owning your first home.
You Go girl, you are stronger than you think!!