Females Drive Housing Demand and Hammer Away at Renovations
Royal LePage survey finds 25% of women searching for a home are looking for a 'fixer-upper' and plan to do the work themselves
TORONTO, April 17, 2007 – With a chequebook firmly in one hand and a hammer confidently in the other single female homebuyers of all ages continue to knock down barriers by purchasing real estate and tackling home repairs. Currently, 30 per cent of single, never-before married women own their own home, while 45 per cent of divorced or separated women and 64 per cent of widowed women are homeowners, according to the Royal LePage Female Buyers Report released today.
Poll results found that of the single, never-before married women who are not yet homeowners, 31 per cent say they will potentially purchase their next home within three years. While more than half (56%) of women who own and rent who intend to purchase in the next three years are shopping for a property in the $150,000 to $350,000 price range, 10 per cent have slightly fatter pocket books and are looking for a property priced from $350,000.
"The notable upswing in real estate activity among females is not surprising given that women are earning higher salaries than ever before," said Lisa da Rocha, vice president, marketing, Royal LePage Real Estate Services. "There has been a shift in mindset whereby women have distanced themselves from the traditional notion that you must first find Mr. Right and then together you buy a home. Our findings reveal that 66 per cent of women who intend to purchase would not find the process of buying a home on their own intimidating."
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