The recent analysis of real estate industry has demonstrated higher sales in the home buying industry. According to that, women home buyers have taken a great leap (22 percent approximately) in purchasing properties as compared to 2017. Interestingly, this percentage is increasing on continuous basis.
What does all this percentage increase mean in terms of future home buying? Realtor.com- one of the reliable real estate networks, indicated that the trend of female home buyers is on the rise. Seven out of ten home buyers are commonly millennial females (that hit the peak, especially between 1980 and 1998).
That is to say, single-women have become fastest-growing home buying cohorts over the past few years. The Millennial have reached their prime homeownership year. This finding is not a surprise as the National Association of Realtors also showed that women accounted for the large share of home buying in 2017. They made up approximately 36% of the home sales.
So what are the reasons? Or what is it that women look for when buying a home? And how can real estate agent appeal to these potential buyers?
If you’re looking for the answers to these questions, we have you covered here.
Power of Women Home Buyers
With $6 trillion expenditure power, women make a great force when it comes to buying homes. A recent survey reveals that when couples buy homes, 91% of the decisions are taken by the women. In the past few decades, more and more single women or females have opted for a mortgage.
Whether women are single or married, they are one of the powerful forces in the marketplace and real estate business. Not only this, when they look for their dream home, they tend to do lots of research. From scouring the internet to researching communities, to reading data and reaching out to real estate agents, they do everything that can help them find their dream home.
What Women Look for in a House?
No doubt women have a slightly different approach when it comes to picturing a dream house. Most of them look for a home that has a warm and bright interior, bigger bedrooms, mudrooms, open floors, a backyard, a good storage space, and luxurious finishes.
In addition to that, they do consider safety in terms of how close the house is to their workplace, fitness center, and shopping malls. Many women prefer buying a home that is not only low maintenance but also a place where they can socialize with their neighbors.
How Real Estate Agents Can Appeal Women Homebuyers
Since women are comparatively more concerned when it comes to buying a home, they want a real estate agent who listens to them and understands their interests, likes, and dislikes, and most importantly, their lifestyles. Details matter a lot for women, so it is vital to highlight even the small conveniences of the property. Women want to know how their new home will help them improve their lifestyle.
Final Thoughts
Women are a great force as potential home buyers and they value home ownership. They invest money in buying homes even if it requires financial sacrifices.
Sources
https://www.ahs.com/home-matters/real-estate/power-of-the-woman-homebuyer
https://www.nawrb.com/community/statistics-on-women-and-home-ownership/