A recent report from the Harvard Joint Center for Housing Studies revealed that single women are buying houses in record numbers, and twice as likely to purchase a home on their own than a single man.
Just think, it was only 51 years ago when the Fair Housing Act of 1968 was passed, making it possible for single women to get approved for a mortgage without a man’s signature for the first time, setting the stage for women homeowners.
That’s a big reason why when putting your home up for sale—especially those with smaller homes—you should probably consider making it more appealing to women, taking the single homebuyer into consideration.
While some single women look for a starter home right after graduating college, it’s more likely that the single-woman buyer will be in the 42-52 age range according to the data. Reasons for homeownership usually have to do with wanting to be close to friends and family or simply to be nearby a new job.
Not surprisingly, one of the biggest things single women look for when shopping for a home on their own is the safety of the neighborhood and house itself. That means homes with alarms and good exterior lighting are more attractive.
Single women often like to be nearby retail, dining and entertainment venues, in order to meet those who are of similar age and lifestyle. A good idea for a home seller is to make a list of some of the top hot spots in the area and leave it for those who will be coming to look at the house.
Like most homebuyers, single women are looking for a good price, one that won’t stop them from enjoying their single lifestyle. Also, single women may be looking to tie the knot sometime down the line, so they may have more interest in the rental or resale value of the home should their relationship status change in the future.
So don’t always market your home to a family or couple—a single-woman buyer may be your best prospect.
