Single Women Twice as Likely as Single Men to Buy a Home – LV Luxury Condos
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ICYMI: Single Women Twice as Likely as Single Men to Buy a Home

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In case you missed it, single women are twice as likely as single men to buy a home, according to a recently published story in The Street. 

The real estate firm Orchard of Americans recently surveyed singles and unmarried couples in romantic partnerships and here are the fascinating results: 

  • 58 percent of unmarried couples would consider buying a house prior to getting married
  • 30 percent of men say they would not feel comfortable buying real estate with a partner before marriage, while only 15 percent of women are opposed to the idea 
  • 25 percent of Americans would begin looking at real estate with someone they’ve been dating for six months
  • Single women are twice as likely as single men to buy a home
  • 75 percent of women hoping to buy a home have saved 20K or more for a down payment
  • 69 percent of men hoping to buy a home have saved 20K or more. 
  • Single, divorced, or widowed women are 2.5 times as likely to have started saving for a down payment compared to men at a similar life stage

These are impressive results considering that 50 years ago, if a single woman managed to pull off buying a new home, the mortgage papers referred to her as “spinster.” 

woman tapes moving box closed

Here are some homebuying tips from real estate experts for single Americans:

Buying a home as a one-person household generally means that you have less buying power since you don’t have a second person’s income. Taking a closer look at some starter homes may cut costs and get more single buyers and unmarried couples into home ownership.

“Many single buyers are opting for the condominium lifestyle,” said Shahn Douglas, chief marketing officer for DK Las Vegas, which owns Juhl, the modern, loft-style high-rise condominium community in downtown Las Vegas. “Condos are both an excellent investment and practical lifestyle choice for singles. Resort-style, low-maintenance condo communities like Juhl with amenities such as a state-of-the-art fitness center, luxurious pool, 24/7 concierge and electric car charging stations are ideal for singles of any age.”

Above all, experts advise: know your budget, stick to it and have a cushion – be sure to have a six-month rainy-day reserve for your mortgage payment. Plus, do your due diligence so you know what you’re getting into and to ensure you’re prepared for potential future costs.

For more information on the Las Vegas condominium lifestyle, visit the Juhl website or call 702.825.7129.