WASHINGTON – July 14, 2011 – Unmarried women accounted for 20 percent of homebuyers in 2010, and single guys made up 12 percent, according to the National Association of Realtors®.

The Joint Center for Housing Studies says most single women make home purchases because of a desire to nest, a need for more space, and to move closer to a job or family. Builders recognize the buying power of single women and responding with security features, gourmet kitchens and low-maintenance landscaping.

Experts say favorable interest rates are encouraging singles to buy homes, and Northern California Realtor Jan Gray says women are savvy clients who have done research and know what they want in a house.

“When women shop for a home with a man, I always see them deferring to him: his need for a garage, or a work space, or a man cave,” Gray says. “When women buy for themselves, they’re excited about turning this place into something that reflects them and who they are – they know they could even paint the bathroom pink if they wanted to!”

Experts say unmarried homebuyers should choose a location that fits their budget, passions and hobbies; look for a home in good condition; view the home as shelter and not an investment, taking care that their mortgage payment does not surpass 28 percent of their pre-tax monthly income; and consider that they could get married and have children one day.

Single buyers should also make sure the property would make a good rental and does not require more upkeep than they can handle – and they should take their time in making a decision about what to buy.

Source: MSNBC (07/12/11) Ganahl, Jane

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