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Women Buyers – The Center of Attraction in Housing Industry

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Women Buyers – The Center of Attraction in Housing Industry

Evidently times have changed - builders, realtors as well as developers are beginning to finally understand. They started to be well aware that women make a majority of the decisions in the home-buying process. Since the 1960s, the percentage of men entering the workforce has diminished while the percentage of working women has increased substantially. Today, women are independent, empowered, educated and employed and often single.

However single women accounted for the second-largest segment of home buyers, accounting for 21% of transactions, after married couples who bought 59% of homes. NAR estimates 47% of condominium owners are single women though.

It seems that when it comes to women in the housing industry, women 50-plus years old are choosing to live in communities that emphasize social interaction and convenience. The experience of community is a key driver for women as well as being close to the workplace and public transportation.

As far as home amenities go, women are fixating on security. They are attracted to high-tech home-security systems as well as automated home-lighting systems. Convenience, in terms of location, saving time and effort, are a big plus with female home buyers. Women are quicker to look at having amenities that play into the needs of children. Shared areas are critical to community life as well as nearby stores, parks and recreational areas.

As it turns out women control 80% of consumer purchases, direct 91% of housing decisions and guide 94% of home-furnishing choices.

Women buyers look for strong character in home design, such as cottages with a crisp and clean look, urban enclaves with rich colors and textures, and calming and contemporary Asian influences.

Women who are 55 or older are cyber savvy and use their computers for ordering and correspondence. Women at this age have more time to relax, engage in social activities and explore hobbies, making special-interest rooms an essential feature in new-home marketing.

Also, women tend to shop with peripheral vision and they notice everything.

What are you interested in when buying a home?

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