A new article published on Yahoo Finance Canada suggests that there’s a heavily growing trend in single women buying their own homes, according to real estate insiders.
A report by Royal LePage in 2007 found that 30 per cent of single women owned their own home compared to 45 per cent of separated or divorced women. The report also found that 34 per cent of women who intended to buy a home within the next 36 months would skip having a wedding reception in order to make a higher down payment on their home, while women also have different requirements when purchasing a home compared to single men. These include wanting more security and more low-maintenance homes, while also being more budget-conscious.
A report out of the United States also found that in 2014, women made up 16 per cent of repeat buyers and 23 per cent of first-time buyers, while men made up eight per cent of repeat buyers and 15 per cent of first-time buyers.
For more, check out the Yahoo Finance Canada article here.