Mortgage Blog

Top 3 Reasons More Single Women are Purchasing Real Estate

September 17, 2019 | Posted by: Brandi Pierik and Matthew Pierik - Red Deer and Calgary Mortgage Brokers

3 Top Reasons More Single Women are Purchasing Real Estate

One of the most influential and growing segments of real estate buyers across Canada is single women. That’s right, the traditional homebuying demographic has definitely been shifting in recent years.

Women are no longer waiting to get married and/or start a family before getting into the housing market. Self-sufficient and financially savvy, many women are confidently embracing homeownership like never before and enjoying the pride, satisfaction and sense of accomplishment that comes along with buying property.

There are three primary factors driving this trend:

1. Affordability
Thanks to many women attaining higher education and being more career-focused than ever before, today’s job market includes a better mix of women than at any other time in our history.

This has, in turn, led to better positions and higher earnings, which is providing women with more financial independence and buying power, enabling them to enter the housing market on their own. Saving for down payment as a first time home buyer has become more accessible.

2. Independence
Marriage was a prerequisite to buying a home for women not too many years ago. Fortunately, homeownership is no longer dependent on relationship status or having a family.

More single women are either choosing not to get married, or delaying it to pursue their education and career – and they aren’t waiting for a relationship before buying a home.

Other circumstances such as the death of a spouse, or starting out as a single person following a divorce also explain why more single women are buying a home solo.

3. Investment
Many of today’s single women are financially astute and taking charge of their own money, and understand the long-term value of owning real estate.

With monthly rents on the rise, single women realize that homeownership represents a significant step towards building wealth, equity and long-term financial security – and they’re doing it independently.

As always, it’s important to work with a qualified mortgage broker who will ensure the entire process is seamless from start to finish and sets you up well for buying future properties in Red Deer if you so desire.

Do you have questions about your home loan options? Answers are just a call or email away! Contact Brand Pierik, Red Deer Mortgage Broker with Dominion Lending Centres

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