NASHVILLE, Tenn. (WKRN) — New data shows more single women than single men are buying homes. Nationally, the stats are almost double.
Meanwhile, local real estate agents are reportedly seeing women jumping head first into homeownership in Middle Tennessee, as well.
“I do have more single women buyers than I have single men buyers,” said Amanda Peterson, a real estate agent with The Ashton Real Estate Group of RE/MAX Advantage.
When making the leap into home ownership, Peterson said her single female clients have told her this: “‘I’ve worked really hard to make this money, so I want to make it count, and I want to make it count only for myself, not for a landlord or for someone who can benefit from the money.'”
This year, single women make up 17% of all homebuyers nationwide, while single men make up only 9%, according to the National Association of Realtors.
Although Peterson said she sees more men buying investment properties, women are also becoming a more dominant force in that arena.
“I am seeing a lot more women investors buying properties to rent out or to Airbnb so that they can get a little bit more finance coming in,” she added.
According to Peterson, the power of the female homebuyer is important because it wasn’t until 1974 that women were even allowed to get a mortgage without a male co-signer.
Nowadays, the top reason women cite for buying a home is to be near close friends and family. Whatever the motivation may be, though, Peterson said owning is a better financial decision than renting for many women.
“The people that I know who rented for 40 years and now own a house all tell me, ‘I wish I would have bought a house. It was so silly. I could have bought this whole block if I would have bought when I was 20 instead of waiting until I was 45 to purchase a house,'” Peterson explained.
Peterson’s advice to female homebuyers is to find both a great agent and a wonderful lender. If poor credit appears to be an obstacle, these professionals can explain your homeownership options.