I just read an interesting article and I thought I would share it.
An article in the March issue of Vancouver Sun had an interesting article about how the majority of individual Canadian women buying homes are single and financially savvy.
In fact, Ipsos-Reid conducted a survey focused on women between the ages of 20 to 45 who bought a home as an individual rather than jointly with a spouse or common-law partner. In the polled group, the average age of first-time buyers was 29, 82 per cent was single, four in five had no children and almost 50 per cent had a university degree.
Women seem to want to get into the market while they can. It provides them with a sense of financial independence and a feeling of confidence.
“Young, single, professional women are gutsy, much focused, savvy home buyers. The majority of these women tend to favor living in an urban environment that is safe and secure and close to work.”
Women understand the difference between renting and owning. A one bedroom apartment in a newer building rents for about $1400-$1500 a month. For a few hundred dollars more, you are able to own your own one bedroom. Any mortgage broker can tell you how easy it is to get a mortgage even without a large down payment. And being a home owner myself, it is such a great feeling when you know that the money you are putting into your apartment is for your own mortgage and not someone else.
