While traditionally buying a home was something a woman did with her partner, more are entering the market on their own as they become financially independent. Sisters are doing it for themselves. Or rather, I like to call these vivacious ladies “Independent Women”, who are seeking security in bricks and mortar. I think millennials would be shocked to know that only a few decades ago women needed a male guarantor to take out a loan. So, who would have guessed that 50 years on it seems that women are leading the charge in property ownership.
For me, my constant stream of referrals are “Independent Women”, who for various reason are now single and have never gone through the process of either buying or selling ‘Solo’. They want to set up a stable base to feel secure in their new path through life. A place to make their own decisions, dream about holidays and share some laughter with friends. It seems women are continuing to enter the property market at a faster rate than men and according to Westpac’s Homeownership report in 2018, Australian women are significantly more likely than men to be planning some sort of real estate action in the next five years. This included buying a home (28 per cent of women versus 20 per cent of men), buying an investment (16 per cent versus 13 per cent of men), selling a property (17 per cent versus 14 per cent) and renovating (29 per cent versus 27 per cent), according to the survey of more than 1,000 Australians.
I also have a large number of clientele who find themselves alone, after losing their long-time partner. If losing a husband wasn’t traumatic enough, they are now left with the process of selling the family home, decluttering, downsizing and looking for something that requires less maintenance. The exact scenario for my mother, who couldn’t keep up with the lawns, gardens and maintenance on an older home. I can quote her as often saying that “It was the best thing she has done”.
To the women taking control of their financial futures and making the largest financial decision of their lives, to these Independent Women; I salute you.
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