| This rise of single-women homeowners is part of a | | | | women with stable jobs and upwardly mobile careers. |
| greater social and economic shift that is reshaping | | | | Single women now play a significant role in the |
| Canadian life. Women are tired of waiting for Mr. | | | | housing market. They feel there is no stigma to |
| Right to come along and start their homeownership | | | | buying alone and are more confident than their |
| dream. For the first time in history, women have | | | | counterparts a decade ago: |
| access to the same resources men have always had. | | | | -Currently, 30 per cent of single, never-before |
| Women today make more money, assume leadership | | | | married women own their own home, while 45 per |
| roles in business, are financially independent, and | | | | cent of divorced or separated women and 64 per |
| control their own financial decisions far more than in | | | | cent of widowed women are homeowners. |
| decades past. Women can acquire homes on their | | | | -Another category of single women is the growing |
| own rather than searching for a mate to provide | | | | number of single mothers. Single mothers make up |
| them. It's symbolic of success - of getting out there | | | | almost 30% of all unmarried women buyers. |
| and doing it on their own. Single women snapped up | | | | -25% of women searching for a home are looking |
| one of every five homes sold, more than twice as | | | | for a 'fixer-upper' and plan to do the work |
| many as single men bought | | | | themselves. |
| Women are motivated to purchase homes by a | | | | -And more single minority women are buying homes |
| desire for financial security and the sound investment | | | | than married minorities. |
| of home ownership, as real estate has steadily | | | | Some of the most critical demographic changes that |
| appreciated in recent years. Women live longer, think | | | | have opened up the real estate market to women |
| about financial security in their retirement, and | | | | include: |
| recognize the benefits that home ownership provides | | | | -Women (and men) are marrying later. On average, |
| more so than ever before. Building equity and taking | | | | women now wait until they're nearly 26 to walk |
| advantage of tax deductions appeals to women, as | | | | down the aisle, about six years later than in 1960, |
| to most buyers. Low interestrates, first-time | | | | according to Census data. On average, men today |
| homebuyer programs, high divorce rates and the fact | | | | marry at age 27, an increase of five years in that |
| that child support payments are considered income | | | | same period. |
| to single parents, have helped contribute to the | | | | -Divorce. A Census study showed that 73% of |
| trend. Also on the rise is the number of single women | | | | women who married between 1980 and 1984 |
| buying older homes, renovating them, and selling for | | | | reached their 10th anniversary, compared with 90% |
| a profit. | | | | of women who married between 1945 and 1949. Still, |
| Why are so many single women buying homes? The | | | | as many as half of new marriages end in divorce. |
| top reasons are: | | | | -Women tend to live longer than men. The average |
| - Not having to rely on a man to shelter them | | | | man will die at 74, giving the average widow (who |
| - Security, financial and safety reasons | | | | will die at 79) five more years to buy a home on her |
| - Sense of independence and self worth | | | | own. |
| - As an investment | | | | Houses are a great source of wealth, and as women |
| Not as important, is a home to raise children in. This | | | | are buying and holding onto them, they will gain |
| may be somewhat indicative of the fact that most | | | | greater equity and become less dependent on male |
| of the single women buying homes are professional | | | | partners for material assets and protection. |