In honor of Women’s History Month, let’s talk about one of real estates biggest buyers: The Single Woman
Although women are earning just 83 cents to every dollar a man earns, in 2023 19% of all homebuyers were single women. This compared to single men at just 10%. According to Howard Hanna Mortgage, almost 25% of closed loans in 2024 had all-female borrowers.
Considering women have only had the ability to obtain credit and mortgages on their own since 1974, they have made huge strides ever since. By 1981, single women made up 11% of homebuyers, which was the second largest group after married couples. Women are obtaining higher education, earning more, and thus creating financial independence for themselves. They have realized they don’t need a man to have everything they want in life.
Instead of worrying about finding the man they want, they became the man they want.
Income aside, it makes sense that women are buying and creating homes on their own. Historically, and some would say biologically, women are the homemakers and the nurturers. It’s only been in the last 50 years that this has been attainable without a man. Women also tend to outlive men, which makes homeownership a solid long term investment.
Because of women’s ability for financial independence, they are creating lives on their own terms. Maybe they didn’t meet their perfect partner at 25, or 30, or 40.They have careers, they travel, they have children if they want to, and they don’t if they don’t want to. They have cats, they have goals, they have designer clothes, and killer apartments. They have houses with gardens, they own businesses, and they run companies. They have the ability to build any life they want.
But don’t think you have to be an extremely high earner or have a huge downpayment to be a homeowner. There are low down payment loans, down payment assistance programs, and grants. As women we sometimes doubt ourselves, and second guess our capabilities. There are options out there for us, and there is no better investment a woman can make for her life than owning a home and building wealth.
Single women of the 2020’s are proving that you can be healthy, fit, successful, independent, authentic, financially secure, and fulfilled. Watch out bachelors of the 20th century, there’s a new bachelor in town.
(Original content published by Allen Tate Companies)
Are you a single woman looking to buy your first place on your own? Lets have a coffee and a yap!
Dara Tannenbaum Realtor®
Email: [email protected] | Instagram: @daratannenbaum | Website: daratannenbaum.allentate.com
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