There has generally been a specific order to the big moments of life. For good or for ill, the “order” of milestone adulthood moments was a part of the fabric of society.
It went a little something like this: Go to college, find the woman or man of your dreams, land a job, get engaged, get married, buy your first home, and of course, have lots of babies as soon as you settle into your new house.
Those mandatory “steps” have been wearing away for decades, aided by major cultural shifts in the U.S., including women entering the workforce in droves in the 1970s. For a number of reasons, waiting for all the other elements to fall into place before buying a home just doesn’t work for a lot of people.
Many young adults, particularly in Western cultures, are thrilled to do away with those outdated traditions of coupledom and replace the prioritization of partnerships with prioritizing individual identity and growth. Even if we all want the same milestones in our lives, a growing number of people are switching up the order and getting their real estate ducks in a row long before they worry about sharing their homes with anyone.
Though it is not an entirely new trend for a single man or woman to purchase a home, over the past few years those numbers have been on the rise.
Women are leading the single home buying charge, edging out single men significantly in the home buying arena. Today, single women make up 17 percent of the homebuyers in the United States, followed by single men who account for 7 percent of the single home purchases. Cities experiencing the big single buyer boom include Boston, Seattle, and San Francisco.
And in some areas of the country, the numbers of single female homebuyers are significantly higher. According to a recent Boston real estate article, women accounted for 70 percent of singles’ home sales. Back in 2009, single women were responsible for 21 percent of all home purchases. All signs point to this real estate pocket rising up, up, up in the coming years.
More than just buying a home of their own, young singles are looking to real estate as a solid investment in their financial future. Whereas real estate was once a bit of a volatile investment, today investing in the real estate market is a no-brainer.
In many areas of the country, like here in Southern Arizona, real estate is one of the best investments to make in the next few years. And those smart, savvy singles are not going to miss the opportunity to scoop up some of this highly sought-after real estate.
Some who invested just a few years ago are already seeing a major return on their investment, giving them the opportunity to buy, renovate, and either rent it out or sell it.
The best part of real estate buying for singles is that it presents them with more opportunities should their situation change down the line. If they need to sell for a bigger home, they have the experience, assets, and financial standing to do so without much hassle. If they need to move, property management services make it easy to rent out your property and move anywhere in the world without losing your investment.
