Posted on 03/29/2005 11:21:03 AM PST by qam1
Fewer single women are waiting for Prince Charming to sweep them off their feet before they buy their first home.
The Wall Street Journal reports single women are buying homes in record numbers.
"It's like a dream,” said MiMi. “You are just not really there yet. It takes a few weeks to settle in, and say, ‘OK, this is my house!’”
MiMi, 29, isn't wasting anytime securing her future. She recently bought her first home.
Mimi is a part of a growing segment of single women, armed with buying power, that are unwilling to wait around for Mr. Right before investing in a house.
“If you keep waiting around and you keep renting, you're throwing away thousands of dollars each year that could be going towards equity,” MiMi continued. “So I wanted to make sure I was building something rather than throwing money into someone else's pockets."
The National Retail Association reports in 2003 single women bought one in five homes. That's close to two million homes.
The share of homes bought by single women has increased about 33 percent over the past decade, making single women the fastest growing segment of the home buying population.
"When I was a little girl we used to sing, ‘First comes love, then comes marriage, then comes whoever your friend is with a baby carriage.” I don't think kids are singing that song anymore,” said Triangle Realtor Linda Craft.
Craft says over the past ten years she's seen more and more single women wanting to buy a home. She says part of the reason is more women are thinking like business professionals nowadays.
“And the business professional says, ‘I don't want to waste money on rent, I want to own my own home. I want to start having a leveraged investment that is going to grow and protect my future,'" she explained.
Craft doesn't see the trend slowing down anytime soon. “I’ve been in business 20 years. I think 20 years from now, and I will still be in business, we will see more and more women, who are not only buying real estate, but own the majority of real estate."
Meantime, MiMi is enjoying her newfound independence, but is still open to meeting her knight in shining armor when the time is right. “Absolutely! You just have to take your time and do the responsible thing. The responsible thing is to watch out after your retirement and, like I said, investing in homes. Realty is one of the best ways to have a retirement or fixed income in the end."
Mortgage giant Fannie Mae expects single women to head 28 percent of all households by the end of the decade.
You can meet the fellas at the Home Depot or Lowe's while getting materials for home improvement ;)
If she has a huge down to bring with her, it's OK.
We've seen the market crash over 30% at least twice in the last 25 years.
In this case, people went to RE like they did the stock market, so prices are way to high for what the properties are worth.
California gets further exasperated by wealthy immigrants dumping money they left their country with here.
It is going to be a very interesting ride soon "I think".
Keep an eye on your condos and townhouses. They are the last to benefit and go up and the first to drop. They will be a small warning that the rest of the market will follow quickly.
Or worse yet, if you are approaching 50 and alone (OK, so toasters tend to fall in bathtubs 'round here). The assumption is that you must be nearly insane with loneliness and the need for a man just to have, well, a man in the house. It is almost a given that you are desperate beyond reason.
I kid you not, I have two requests for dates and a marriage proposal that started with "Well, since you're alone and I'm alone.....".
The first house I bought, when I was single, had 4 bedrooms and 2 baths.....but it was a townhouse on a small lot.
But you are right - this is MY (well, our) house.
Because I am almost 30 and getting tired of paying my landlord's mortgage.
A large percentage, a few by choice and the rest by the choice of others....
Evidence, please ...?
That's SUPER!!!!
My first mortgage was actually more than $100 a month less than what my rent was at the time.
Wow, that's a project! Mine was only about 1000 s.f on the second floor. Brings back memories I'd rather not revisit. Sort of a best of times - worst of times thing I'm sure you're familiar with.
Hat's off to you!
Oh man!
I do love room service!
My favorite part of traveling...hot bath, big fluffy bathrobe, 4 hanky movie on and the worlds biggest, most overpriced hamburger with an equally over priced beer brought right to my door.
Heaven.
You are talking about my upstairs neighbor. I swear I hear that cow rattling around up there every night and sometimes during the day.
Charming!
Thank you!
As of this week I estimate that I have carried and laid 2 tons of flooring in my house. Double that when you consider I have moved boxes from room to room and back again as I worked.
When I stared, I was REALLY anal about the grout lines, alignment etc.
But now,
HA! Looks like it was done by a blind chimpanzee on crack.
A very tired, sore and cranky chimpanzee.
It does depend on the location. Here in FLorida all homes have more than doubled in price in the last 4 years. A $100,000 home bot in 1999 is now going for $275,000.
yeah and there are a lot of married women still waiting for Mr. Right too eh? could be some of your own spouses by the way some of y'all are snarky
"Hello room service, I'd like another half dozen of those large towels that I can use and just drop on the floor and have them magically replaced by the next day. Yes, that's right and about a dozen of those tiny shampoos and soaps that I can throw into my suitcase to use in emergencies when I get home...uh, and when the bed is turned down tomorrow, could you arrange for four or five of those little chocolates on the pillow? That's great, thanks."
More jealousy, than snarkiness, I'd say.
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