Do you know who is buying real estate in Canada right now? Women.
Specifically, All the Single Ladies.
Opting to get married later in life, and a high national divorce rate has given women the opportunity to purchase their primary residences and then some. According to a recent article from the Globe and Mail, 61% of new homebuyers at Vancouver’s MC2 were female first time homebuyers. Developers are taking note and catering to the female ‘must haves:’ good location, safety and the coveted walk-in closet. It’s not just starter apartments women are buying, but they are embracing the market as a whole buying investment properties or houses they can renovate and get a decent return on.
In a study that looked at behavioral economics by Barclay Wealth Management in cooperation with Ledbury Research, women were found to show better discipline in financial management in comparison to their male counterparts. The study also found, women are better able to manage stressful situations such as flipping houses or making difficult decisions. This women’s intuition and innate female characteristics provides us with …
The Top 5 Reasons Women Make Great Real Estate Investors:
1. Risk Averse: Men love to take risks. Yes, with risk can come reward; however, risk management is essential in successful investing. Women take their time, work closely with qualified professionals, and analyze every aspect of the market before taking the leap. They are naturally less impulsive.
2. Self Control: Women are less likely to panic and sell out of desperation. When it comes to making a profit on a real estate purchase, women are more likely to beat the average and successfully ride the ups and downs of a volatile market. Essentially they will buy and hold.
3. Seeing the big picture: Real Estate is a long-term investment. Women are willing to make the sacrifices necessary for the long-term payout that real estate can provide. They understand that purchasing a one bedroom condo will allow them to move up the property ladder, and can provide financial independence.
4. Not afraid to ask for help and see the value in professionals: This I can attest to. Women will grill you. In meetings with clients, it is the female voice that will ask the tough questions. Most likely, women will interview several industry professionals before deciding whom to work with.
5. Desire: A combination of not putting a ring on it and a 50 plus percent divorce rate has women seeking financial independence. They do not have to, nor want to, rely on their husbands as past generations have. They have the savings to invest and real estate appears to be the investment of choice.