Added: Jeniffer Stults - Date: 26.12.2021 08:56 - Views: 14638 - Clicks: 9850
For years Sarah Wilsona personal finance expert and author at the financial website Budget Girl, has dreamed of owning her own home. Now, she's seeing that dream through, shopping for a duplex in the Bryan-College Station area of Texas.
Wilson isn't well off, nor is she getting a loan with a co-er or a guarantor. She's doing this completely on her own as an investment in her independence and financial security. That means budgetingsaving, investing and building my own personal wealth.Women Home Buyer in INDIA - First Time Home Buyer benefits - CARPET AREA - RERA ACT
Beatrice de Jonga Los Angeles-based Realtor and consumer trends expert at the home-selling site Opendoor, is noticing more career-minded single women in the market to buy a home. Keosha Burnsvice president of public relations at Chase Home Lending, adds that "across the country, we are seeing women take the housing market by storm. Over the last several decades, we have observed that women are excelling in their careers, getting married and having children later and are determined and driven to reach their goals — qualities that can breed success when it comes to home buying.
A new report from LendingTreewhich culled data from the Census Bureau, found that single women own more than 1.
Cities with the highest ratios of single female home owners are Tampa, Florida where single women own Although some cities tout more single women owners than others, the data demonstrate that in all of the 50 largest metropolitan areas surveyed, single women own more homes than single men do, making for a kind of reverse gender gap.
The obvious question here is how do women, who still earn less than men on average, manage to own more property than single men? One fairly unexciting reason at least from the perspective of women's advancement is that in divorces between men and women, the woman is more likely to get the family home over her ex-husband. Divorce outcomes certainly play a part, but that doesn't seem to be what's driving the trend of single women homeownership. Tendayi Kapfidzechief economist at LendingTree, suspects that the answer is partly tied to women's steady rise in the labor force.
According to the latest job report from the Bureau of Labor Statisticswomen out men in the workforce, holding The State of Women-Owned Businesses Reportcommissioned by American Express, found that the of women-owned businesses increased 21 percent from to When zooming in on the data, you'll Single woman buying a house that companies owned by women of color actually grew at double that rate 43 percent in total. For many business owners especially those who work from homeowning a house or condo unit can be an added benefit come tax time.
Research has long shown that women are generally more risk-averse than men, a fact that strongly points toward the way women are typically raised and socialized as a recent study published in the journal Proceedings of the National Academy of Sciences exploresalthough some research as considered in this study suggests that evolution, and not just the way one is brought up in society, may also be at work. Whatever the reasoning, risk-aversion likely also plays a big part in why there are more single women homeowners than single male homeowners. If you're thinking about buying a home on your own, consider these pointers both from experts and from single women who've gone through the process on how to make it happen.
Although you can possibly arrange for a much lower down payment, aiming to put down 20 percent is advisable so you can avoid having to pay for private mortgage insurance PMI. This is extra money each month that is leaving your pocket — try to save for a larger down payment or take the time to raise your credit score if you can.
If you have to go for the PMI, know the limitations on when and how you can get it removed. Don't let them block your light. Some friends and family were rooting her on, but then there were the naysayers insisting she was making the wrong choice.Women Home Buyer in INDIA - First Time Home Buyer benefits - CARPET AREA - RERA ACT
I firmly believe that the security of homeownership has afforded me the comfort to advance our lives in other ways. Without the security of knowing my family would always have a place to stay, I likely would not have applied to or attended law school in my 40s. Want more tips like these? IE 11 is not supported. For an optimal experience visit our site on another browser. Share this —. Follow better.
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Here's what you need to know.Single woman buying a house
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Single And Interested In Purchasing A Home? This Guide Is For You