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Statistics from the National Association of REALTORSâ show that last year, single women accounted for one-third of all condo sales and 22 percent of overall home sales. That’s an increase of 14 percent over 1995. Meanwhile, the percentage of married couples buying homes has dwindled to 60 percent from 70 percent over the same period.
Women today are better educated and more financially independent than ever before. They understand that investing in a home is a great way to build equity. They also want the economic security and tax benefits that come with home ownership.
As a result, builders and sales agents are beginning to pay close attention to what single women are looking for -- something also worth considering when renovating or getting your home ready for resale.
What are single women home buyers looking for? Real estate agents report they want:
- Smaller, low-maintenance houses or condominiums
- Second bedrooms to use as a home office
- Safe urban neighborhoods
- Close proximity to public transportation
- Move-in condition
- Walking distance to stores and restaurants
- New kitchens with islands for entertaining
- Upgraded cabinetry
- Light-colored walls
- Newly finished hardwood flooring
- Freshly cleaned carpets
- Bathrooms with soaking tubs as well as showers
- Ample drawer and counter space
- Walk-in closets
- Gas fireplaces
- Well-lit parking
- Condos with a front-door guard
- Home security systems
Of course, not all of these items can be changed in an existing home -- and not all existing homes are right for single home buyers. But if you own a home or condo that seems to fit the bill, you may want to factor a few of them into the equation when planning any home renovations. Making your home appeal to this growing market segment will likely make it easier to sell.
Published on March 02, 2007Read full article at realestate.com