More and more reports reports and articles are coming out about women and their influence in the real estate market! Recent studies throughout BC and Canada show that first-time buyers are more likely to be female.
Women (49%) are more likely than men (35%) to buy homes within the next two years, according to an RBC Homeownership Poll. Purchasing habits amongst men and women have started to shift due to changes in income levels, demographics and lifestyles.
The RBC Homeownership Poll also showed that women are more cautious when it comes to buying a home. Men are more likely than women to opt for a variable rate mortgage (25% compared to 16% of women), while women are more likely to prefer a combination of fixed and variable rate (44% compared to 31% of men). Fixed rate mortgages are popular amongst both men (44%) and women (40%) in the current marketplace.
Even television shows, like Buy Herself, have recognized this trend in the industry. Buy Herself premiered on HGTV this spring. Each episode follows a single women as she goes through the process of buying her first home. The new show features the tag line "No man. No dual income. No problem.".
As a woman, real estate professional and property owner, I'm thrilled to see women leading the way when it comes to purchasing their own home. There's no longer the assumption that a woman needs to wait for marriage, "Mr. Right", or a male co-signed in order to get a mortgage and a home. It's wonderful that women have the means and the confidence to purchase property on their own and invest in their future. Home ownership provides a sense of security, stability, and indpendence.
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