Single Women Home Buyers

Chicago real estate and single women

: Image via Wikipedia

Growing pains—well, changing pains. I’m happily settled in my new digs in the busy Lakeview area of Chicago, learning even more about why people love this city.

My condo in Logan Square is on the market. I bought it from a single woman. I owned it as a single woman. And there are two other single-woman-owned units in our beautifully rehabbed building. Chicago—as is the case with most large cities—is a great place to be a single woman. So many job opportunities. So many things to do and places to go and people to meet. Full of adventure, yet not overwhelming. I’ve met and made friends with more single women in the few years since I returned to Chicago than I did in my 33 years in Cleveland.

My granddaughter (she was 3 in July) and I are spending more time together lately while her single-mom Perri is busy working for her real estate customers. How’s the market in your neck of the woods? Perri says it’s still pretty slow in Chicago, except for some precisely circumscribed areas known as “the” hot areas of the city—Lincoln Park and Bucktown being two of them. But even a block or more outside the boundaries of those neighborhoods, she says, sales are still slow.

For more tips about the market, single-mom ideas, fun stuff to do, and ways to make your home more beautiful, subscribe to Perri’s blog, ChicagoLifeandStyleBlog.

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Barbara Payne, September 1st 2010 | Posted in single lifestyles, single mom, single moms, single women home buyers, sweltering heat, Uncategorized

Single women buying homes–in droves

If we ever needed further evidence of the trend toward remaining single in America, this is it. Look at these stats:

More than one in five home buyers (20+%) is a single woman. The myth of a guy coming along and buying you a house is disappearing almost as fast as the percentage of life-long marriages.
Twice as many unmarried women are buying homes as single men. Of course! The guys don’t have a woman to take care of it! ” )
Single women make up more than one-third of the growth in real estate ownership since 1994. Yeah, we are a growing demographic with increasing economic clout!

More single women want to own their own home… either they want more space or they want less home to take care of. Or they’re moving to be closer to a job, to school, or to family. Heck, that’s why I bought in Chicago. After a few decades away, I was ready to come back and be closer to my siblings. Funny how perspectives can change as you grow older.

Another younger single woman bought because she had decided to become a single mom. Others are tired of fighting the constantly rising rents in big cities. Here’s what Elizabeth Weintraub, of About.com’s homebuying section, says about single women and home buying:

Trends for Single Women Home Buyers

3 out of 4 women spend less than $200,000.
Prefer 2 bedrooms or more.
Less likely to choose new construction.
Buy in city over suburban areas.
Will compromise size & cost to get other amenities.
Will not compromise on location or quality of neighborhood.
Prefer condominiums with well run homeowner associations over single family homes.
Smaller spaces are acceptable.
Desire security and / or gated access.
Like to engage in social interaction with neighbors.
Want close proximity to stores, shopping and fitness centers.

Sound familiar? I didn’t even realize when I moved here how incredibly convenient my location is to public transportation–I actually have 3 completely different ways to access the multitude of routes and options in the city. I’m only the second stop away from Union Station on the train line–that’s a mere 15 minutes from downtown Chicago. There’s a grocery store half a block from my home–I can walk there, pick out my items, and be back in 20 minutes. The CVS on the corner carries drugs, cosmetics and wine. What more could a single working woman want?

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