15 Dec How Are Builders Catering to the Single Woman Buyer?
Single women continue to be a major force in the real estate market, according to MSNBC and the National Association of Realtors. The demographic accounted for 20 percent of all homebuyers in the past year, whereas single men only made up 12 percent of the total.
Realtors and builders are taking notice of this trend. In new home construction, builders are putting in extras such as security features, gourmet kitchens and yards with little to no maintenance required.
What else is important to this demographic?
Safety. Industry experts also say a building’s proximity to public transit and parking factor into this equation. Late working professional women would take notice of a parking garage and controlled building entrance.
Socializing opportunities and luxury touches. Events, areas for entertaining, spa, massage room and fitness centers with all the bells and whistles are a huge draw for the savvy woman buyer.
Respect. There’s unfortunately still a perception that single women are gullible—that they can be suckered by a wily contractor. In today’s market, that’s an unfair characterization: they’re smart. They’ve done their research. They probably know more about a building’s floorplans than the salesperson.
When women buy for themselves, they are excited about turning the home into something that reflects them and who they are—this is a continuing trend that should not be ignored by builders and developers.