Buying Delray Beach real estate is part of the American dream, or at least homeownership is. Somewhere in our upbringing most of us are infused with the idea that when we grow up we will buy and own our own home, including Delray Beach real estate. However, the dynamics of when to buy and who is buying are shifting.

Cultural Shift in American Families and Homebuyers

In the past, homeownership has gone hand-in-hand with marriage and a growing family. Whether it was buying a home as a couple or investing in a larger property to accommodate the growing needs of a family, property purchases of Delray Beach real estate used to coincide with these traditional trends. Today, the traditional family does not always look the same and many homebuyers are forging into a more modern household.

Just examine the differences in the median ages for men and women who have been getting married for the first time.

  • 1960: Men 22.8 years                 Women 20.3 years
  • 1970: Men 23.2 years                 Women: 20.8 years
  • 1980: Men 24.7 years                 Women: 22.0 years
  • 1990: Men 26.1 years                 Women: 23.9 years
  • 2000: Men 26.8 years                 Women: 25.1 years
  • 2010: Men 28.2 years                 Women: 26.1 years
  • 2015: Men 29 years                     Women: 27 years

Since more women are not getting married straight out of high school or college as they once did, they are becoming much more financially independent. Women who marry later and invest in a college education are benefiting the most. According to the U.S. Census, women who marry later make more money per year than their counterparts who choose to marry young.

With this financial stability, it seems that many women today have the stability and desire to buy and own their own Delray Beach real estate homes as they are not.

Women Versus Men in Home Purchases

Since the mid-1990s, the National Association of REALTORS® finds single women are more likely than single men to make a home buy. In fact, single women are nearly twice as likely to invest in Delray Beach real estate than their male equivalents.

In 2015, 15% of homebuyers purchasing property were single women, while just 9% of these purchases were accounted for by single men. Of course, the bulk of home buying purchases were made by couples.

The widest percentage gap between the shares of single women buying homes and single men is widest among those aged 51 to 60. In this age group, single women buying Delray Beach real estate came in at 20% versus 10% of single men. In the next generation up, single women and men aged 61 to 69 showed women buying homes for sale in Delray Beach and other real estate markets across the country were 19% versus 9% of single men.

Women in this older age group may have lost spouses and are now downsizing or moving to more maintenance-free homes, which could account for the higher numbers. Women seem to be more confident and ready to purchase than older single men.

Why Single Women Buy Delray Beach Homes for Sale

The motivating factor to actually dive in and buy a home varies. Obviously, the thrill and satisfaction of owning a home are one of the most cited factors for almost a third of buyers.

Another motivator and benefit many single women mention are the investment. Once someone looks at the amount of money they spend on rent and do a comparative for a home loan, most see that a mortgage is a much better way to spend their money and earn equity than putting it into rent that is gone.

For some recent homebuyers, the bottom line desire was to move up. This may mean purchasing a larger property listed in the Delray Beach homes for sale or one that was in a better area, neighborhood, or community. That was the primary reason for 10% of surveyed homebuyers.

Florida Realty News
Florida Realty News
Berkshire Hathaway HomeServices Florida Realty, a wholly-owned subsidiary of WCI Communities, has over 39 locations and more than 1,650 real estate sales professionals and team members serving 17 counties throughout Florida.
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