It should surprise no one that homeownership is a top priority for women. According to a Bank of America Homebuyer Insights report, 73% of women rank owning a home higher than getting married (41%) and having children (31%). In comparison, only 65% of men consider homeownership as a top priority.
A recent survey by the Pew Research Center found that 58% of the nearly 35.2 million homes owned by unmarried Americans are owned by single women, compared to 42% by single men. Several factors contribute to this trend:
- Longer Lifespan: Women typically live longer than men, increasing the likelihood that they will outlive their partners and become single homeowners.
- Caregiving Roles: Women often take on more caregiving duties, creating a greater need for stable housing.
- Financial Independence: Despite the gender pay gap, more women are achieving financial independence and can purchase homes on their own.
- Historical Progress: Unlike sixty years ago, when women needed a male cosigner for a mortgage, they are now more empowered to make independent financial decisions.
What Do Women Want?
The acronym SINK (single income, no kids) has been used to describe unmarried women who decide to buy their own homes. SINKs consist of women of all ages, races, and income levels, including those who have never married, widows, and divorcees. So, the question becomes – what are single living women looking for in a new home? Glad you asked!
- Location: Solo women buyers want convenient homes, with proximity to work, amenities, and good schools (even if they don’t have kids, they might consider future resale value). Creekshaw is such a community. It is a picturesque master-planned community in Royse City, halfway between Garland and Dallas. Red Hot Rockwall County has been recognized as one of the best places to live in Texas. It’s close to all that Dallas has to offer – such as employment opportunities, entertainment, and professional sports – but far enough away for its residents to enjoy the best of both worlds.
- Size and Layout: Single women want enough space, with a preference for open floor plans and multiple bedrooms for potential guests or future needs. The builders chosen for Creekshaw have been recognized as some of the best in the Southwest. They’ve won awards for excellence in engineering, craftsmanship, and contemporary design.
- Security: SINKs want safe neighborhoods with good security measures. Master-planned communities are designed with an emphasis on safety, featuring well-lit streets, sidewalks, and parks.
- Maintenance: Solo women buyers want low-maintenance homes, with newer appliances and finishes, to reduce upkeep time and costs. At Creekshaw homes are built with state-of-the-art engineering, construction, design, and appliances – all covered by warranty –working together to save hundreds of dollars each month on utilities and with little need for maintenance.
- Outdoor Space: A SINK homebuyer wants a yard or outdoor area for relaxation and entertainment. At Creekshaw green spaces extend beyond a spacious backyard to include walking and hiking trails, an upscale swimming complex, and a community amenity center.
- Modern Features: Single women homebuyers want an updated kitchen and bathroom, smart home technology, and energy-efficient systems. The premier builders at Creekshaw construct eco-friendly homes with energy-efficient designs and sustainable materials to ensure the highest quality energy performance.
- Community: An independent homebuyer wants what we all want – a sense of community and a neighborhood vibe that aligns with their lifestyle. Living at Creekshaw helps solo buyers build a network of friends and neighbors who can offer help, share experiences, and create a supportive environment.
Empowerment
Homeownership is a wise choice for single women, providing financial benefits, personal satisfaction, and a sense of stability. Plus, owning a home provides significant financial advantages. As solo buyers pay off their mortgages, they build valuable equity that can be used for future investments or emergencies.
Homeownership allows for personalization of living space, encouraging a sense of pride and belonging. It also strengthens community connections, promoting involvement in local activities and relationships with neighbors. Additionally, a home can serve as a legacy by benefiting future generations or supporting retirement plans.
Properties in master-planned communities like Creekshaw generally maintain their value well. The combination of desirable amenities, safety features, and well-maintained common areas makes them attractive to potential buyers, ensuring the investment in a home remains strong.
Solo homeownership gives a woman full control over all property decisions and the ability to have it her way without compromise. A single woman has the flexibility to make changes and improvements at any time, without needing approval from a partner.
Owning a home offers greater stability and control, which reduces stress and boosts overall life satisfaction. Additionally, achieving homeownership alone brings a sense of pride and accomplishment. These advantages make solo homeownership an empowering and rewarding experience.
Sisters Are Doin’ It for Themselves
As more women achieve financial stability and embrace independence, the trend toward SINK homeowners is likely to continue growing. Remember the song “Sisters Are Doin’ It for Themselves” by Annie Lenox and Aretha Franklin? The song is an upbeat anthem about women’s empowerment and independence, celebrating them for standing up for themselves and taking control of their lives, careers, and futures. And yes, that includes buying the home of their dreams!
Take a listen and then click the link to schedule a visit to Creekshaw today!See new townhomes by Impression Homes that are selling now and new model home now open. A New Phase is now selling at Creekshaw! There will be plenty of home designs that can work with any kind of budget.