How homeownership is changing lives of many young people!

Owning a home has always been a symbol of success and stability, but did you know that more and more women are becoming homeowners? That's right! Women aged 27-40 are leading the charge in homeownership, and it's not just about having a place to call their own. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households. Owning a home is a significant financial investment that can change a woman's life in many ways. It can give her the freedom to make decisions about her space, provide a sense of security and control over her environment, and increase her financial stability in the long run.

According to recent statistics single women own 12.9% (10.6M) of the owner occupied homes vs. single men who own about 10.06%.

Why Is Homeownership So Important to Women?

The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal.

On the financial side, housing proves to be the key to building wealth for single women. Ksenia Potapov, Economist at First American, says:

The financial security and independence homeownership provides can be life changing, too. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.

While there are many benefits to homeownership, it's important to note that it's not without its challenges. Homeownership comes with responsibilities, including maintenance and repairs, property taxes, and mortgage payments. However, with careful planning and budgeting, these challenges can be managed effectively.

Bottom Line

Homeownership can be life changing no matter who you are. Work with a local real estate agent today to talk about your goals in the real estate market.