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Single Females Drive Housing Demand

Women Real Estate Buyers - Toronto Real Estate

With a chequebook firmly in one hand and a hammer confidently in the other, single female
homebuyers of all ages continue to knock down barriers by purchasing real estate and tackling
home repairs.
Currently, 30 per cent of single, never-before married women own their own home, while 45 per
cent of divorced or separated women and 64 per cent of widowed women are homeowners,
according to the Royal LePage Female Buyers Report.
When current female homeowners and renters who intend to purchase in the next three years
were asked, “When searching for your home, which type of home would you be looking for?” 25
per cent said that they are looking for a “fixer-upper” and plan to do the work themselves, while
only nine per cent will hire a contractor.
“The notable upswing in real estate activity among females is not surprising given that women
are earning higher salaries than ever before,” said Lisa da Rocha, vice president, marketing,
Royal LePage Real Estate Services. “Single women now play a significant role in the housing
market. Eager to experience the pride of ownership and exercise their independence, we are
seeing growing numbers of women buying their first home on their own, trading-up homes as
they progress professionally and taking on home renovations,” added da Rocha. “Today’s
woman is much more financially astute than her counterpart a decade ago, and is well versed in
real estate as a solid long-term investment.”
Additional Poll Findings:
– Among those who own and rent and intend to purchase a home/condo in the next three years,
men and women both rank equally (81%) taking out a mortgage from a bank, however, nine per
cent of men said they would rely on their family to pay for their entire home, in comparison to
only three per cent of women.
– Of women who own, who don’t intend to purchase in the next three years, when asked, “Which
one of the following motivations most influenced your decision to purchase your home?” the top
three responses included: it makes more sense than renting (36%), want to put my money into a
good investment (22%) and pride of ownership (13%).
– Among women who are intending to purchase in the next three years, when asked, “Which
methods will you use to educate yourself about home purchasing?” the top three responses
cited were speaking with a real estate agent (83%), speaking with friends and relatives (78%)
and using real estate and financial websites (64%).

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