New Visitors Privacy Policy Sponsorship Contact Us Media
Baby Boomers Family Green Home and Auto In Critical Condition Just Starting Out Lifestyle Money
- advertisement -
News & Advice Compare Rates Calculators
Rate Alerts  |  Glossary  |  Help
Mortgage Home
Auto CDs &
Retirement Checking &
Taxes Personal

Single women have come a long way in real estate
Page | 1 | 2 | 3 |

But it's not just younger women who are doing the buying -- women of all ages are taking the homeownership plunge solo.

- advertisement -

"It used to be younger professional women doing the buying," says Phipps, who says he's now seeing more middle-aged women and seniors buying homes on their own. "We're kind of seeing that become more common."

But, often they are not looking at the same homes, says Drew. Older women are likely to buy homes that are newer and more expensive. "They are more likely to have reserves from wealth accumulation," she says.

And that shows up in how they pay for the home, says Drew. Twenty-eight percent of women are able to buy a home without a mortgage, she says. (For single men the figure is 27 percent and for couples, 20 percent.)

But for most women, mortgages are a must. And 40 percent put down less than 5 percent for a down payment.

What do women want?
While it's hard to generalize, real estate professionals have noticed that women, on the whole, seem to be looking for a home that is secure and free of maintenance worries.

Condos and town houses, in particular, seem to be a very popular solution. For solo female buyers, "condos and townhomes are definitely more popular," Stevens says.

Looking at buying habits from 2000 to 2003, Drew found that condos made up 15 percent of the home purchases for single females, as opposed to 12 percent for single men and just 5 percent for couples.

Single women also are looking for smaller homes than their married counterparts, she says. One-third of single women purchased two-bedroom homes. By contrast, 84 percent of married couples purchase homes with three or more bedrooms.

"They are also more likely to own older homes," Drew says. "Part of it is price; part of it is location." Single women are more likely to buy near a city center where housing stock tends to be older.

Next: Your house: a home and nest egg all in one
Page | 1 | 2 | 3 |
Get our free mortgage newsletter
Protect yourself from credit discrimination
Money and the single mom
How to lower your property taxes
Forged signature puts kibosh on home sale
Will mortgage assumption solve crisis?

Compare today's rates
30 yr fixed mtg 3.73%
15 yr fixed mtg 2.93%
5/1 ARM 3.02%
Rates may include points
  Calculate your monthly payment  
  How much house can you afford?  
  Fixed or adjustable rate: Which is right for you?  
Rev up your portfolio
with these tips and tricks.
- advertisement -
- advertisement -

About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here. ®, Copyright © 2015 Bankrate, Inc., All Rights Reserved, Terms of Use.