The demographics of first time homebuyers has noticed a considerable change in the past few years. Specifically, more single ladies are able to obtain property by building up their own personal equity and with significantly less focus on holding out to find a life companion. This means that, more single ladies are stepping into homeownership than have been in earlier years.
In reality, one quarter of homebuyers are actually individual women. As being a sign of this, marketing and advertising approaches in the housing community are starting to concentrate increasingly more on unmarried women. In particular this is correct for properties with scaled-down, much easier to manage outside spaces. As young women begin acquiring houses, and possess the commitment of paying their mortgages and the additional responsibilities of homeownership, these singles females are looking for houses with smaller sized yards and little to no outside routine maintenance.
Condominium Living
Condos, with regards to their minimal backyard servicing have since become fashionable with this first time homebuyer group. Generally, in the event the condominium comes with a yard, outdoor patio, fencing, or driveway with snow to shovel, those jobs are looked after as an element of the condos home ownership association charges. The same goes for some other routine maintenance in condominiums. Several condo operations teams have on call plumbers, electricians, and cooling and heating professionals to assist and manage issues for condominium owners, making these types of places popular places for unmarried women who still lead active lifestyles, as well as other first-time homebuyers.
Pertaining to individual females who head to homeownership, safety is another common concern. Condominium living typically delivers security measures including hired security staff, or perhaps controlled entrance buildings and communities. In condo buildings, even vehicle parking is frequently secure.
For ladies that do favor more traditional properties as first time homeowners, the appeal of outside spaces such as back yards and decks are usually the most appealing items, as opposed to the remainder of this particular group. Individual family homes are more private as well as for single ladies having domestic pets, often offer more opportunities for dogs and cats to be outside safely and securely. Actually, owning a pet is certainly one item that should be reviewed with condominium homeowners in advance of purchase, as some buildings and even communities have limitations.
The demographics of first-time housebuyers have changed. Based on your way of life and private needs, you’ll have many selections ahead to get your perfect first home. Once you do make the choice, FamilyLending.ca is here to help with your mortgage brokerage needs.