In 2004, diamond producer, DeBeers, launched a national campaign encouraging women to splurge on a ring for themselves to be worn on their right hand in order to celebrate their power and independence. The campaign dismissed the notion that women needed to wait to become engaged in order to acquire such a beautiful and expensive piece of jewelry. Flash forward ten years to the present day where the National Association of Realtors has recently released a study identifying single women as the second largest segment of home buyers after married couples. It goes without saying that girl power and buying power go hand-in-hand. Looking to capitalize on this growing market with the sale of your home? We’ve got a few pointers for you!
Space to Entertain: Whether it’s having a wine & cheese night, hosting their book club, or throwing a backyard barbecue, female home buyers favor homes that allow them to place hostess. During showings or open houses, have your real estate agent highlight items such as your home’s multi-room audio system, built in wine rack, or backyard gazebo.
Low Maintenance Living: While single women, with fast paced lifestyles, are certainly capable of household chores, the fewer they have to do, the better! Suggested maintenance free features include: clog-free gutters, composite decking and vinyl windows.
Closet Space: Shoes, purses, sweaters and leggings…oh my! Never have we heard a woman complain that her closet was too big. For this one, bigger is better…PERIOD!
Security: Female home buyers rate this towards the top of their priority list. After all, if you can’t feel safe in your own home, where can you feel safe? Amenities you can add to your home in order to attract female home buyers include a home security system, an attached garage, fencing, adequate outdoor lighting and window treatments that prohibit outsiders from being able to see in.
Natural Light: Women appreciate natural light because of its aesthetics and energy efficiency. In short, the more windows the better! Don’t fret if you have an older home and the amount of natural light is minimal. Skylights and sun tunnels are an easy workaround to this issue. They provide the natural light within a home without sacrificing privacy. Popular areas to add them include bathrooms and walk-in closets, since natural lighting works best for grooming and makeup application.
Upgraded Bathrooms: Single females looking to buy a home appreciate spa-inspired bathrooms. Desirable features include a soaking or jetted tub, premium or multiple shower heads, lots of storage and ample outlets. Bonus points if the home’s largest bathroom is connected to the master bedroom.
Move-In Ready: When given a choice, over a fixer upper with more space or a smaller move-in ready property, today’s single female home buyer will chose move-in ready. Why? More space requires significantly more maintenance, something they aren’t interested in doing.
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