A married couple searching for their first house is a classic real estate tale, but that’s far from a guarantee that this is the type of client you or your team will work with each and every time. Millennials have shown less history of or inclination to get married compared to previous generations, and even coupled millennial buyers are less likely to be married today.
Unmarried couple buyers come with their own considerations, as do totally single homebuyers. To keep up with changing homebuyer demographics, this tip list from the National Association of REALTORS® (NAR) will ensure that you and the members of your team are well-versed in the single homebuyer niche.
The most likely single buyers are women
Relevant data shows that, demographically, single women are much more likely to be homebuyers than single men. For example, NAR’s 2023 Profile of Homebuyers and Sellers found that 19% of then-recent buyers were single women. This trend is expected to grow in 2025.
One cited reason for this is that the gender pay gap, which disadvantages women compared to men, has been decreasing. Thus, women have greater independent purchasing power.
What this means for your team is the importance of paying attention to what women want (or don’t want) when buying a home. Since single buyers have no partner they must compromise with, their tastes and concerns will completely drive their preference.
You can read online trend reports, but the best research is conducted firsthand on the job. This is also an area where you can consult female team members: ask what they would want as a first-time homebuyer and what they think other women would prioritize. Then, without generalizing, apply those takeaways.
Less income means less space?
It’s an easy assumption that a single buyer will have less assets or money to spare than a married couple would. Afterall, a single buyer isn’t pooling two incomes together. But keep in mind the proportionality: A single buyer likely needs a smaller (and less expensive) listing than a married couple or family would.
For now, they may only need one bedroom, for instance. But then the question becomes if your client intends to stay single. That’s when the more personal questions must be answered—practice how to phrase these questions most politely and least invasively. “Do you see yourself wanting to upgrade in the future?” Are they buying the house as a starter home or planning to keep their roots planted? If they ever plan to upgrade, be sure to check back in with them every so often so that, when the day they become a buyer again, they think to call you.
Keep in mind that a single buyer doesn’t always mean less space needed. A single mom, for instance, is probably going to need a two-bedroom home at least.
Consider different mortgage costs
NAR’s advice sheet for single buyers weighs different pros and cons of how they should be approved for a mortgage. One path listed is seeking a mortgage through the Federal Housing Administration (FHA). This comes with potential cost, not just due to possibly uncompetitive rates, but also the need to pay mortgage insurance premiums.
Another possibility is the mortgage buydown, or lowering your interest rate through an upfront fee. There’s always the refinancing option later down the road if the buyer doesn’t want to pay that fee.
As a REALTOR®, you should encourage your buyer to shop around if needed for the best deal. At the same time, be aware of which options are most likely to net them that deal so the search doesn’t drag on longer than needed or wanted.
Single first-time buyer doesn’t automatically mean “young”
The growing prevalence of single buyers has been cited as a generational change, so it’s not a leap to think that a single buyer is probably going to be on the younger side and/or a first-time homebuyer. Yet another statistic that plays an important role in this story is the fact that the age of homebuyers has increased. In fact, NAR found that, in 2024, the median age of a first-time homebuyer was 38.
A single buyer could be a middle-aged renter who has saved carefully and now wants to finally become a homeowner. If your team primarily deals with luxury buyers, there’s a good chance that a young single buyer won’t be a first-time homebuyer either.
There’s no one-size-fits-all dream home that will please every single buyer out there, nor do clients ever come with identical wishlists. Single homebuyers are no different in this regard.
