On Her Own - New show builds on trend of single, female buyers
“No man. No dual income. No problem,” is the tag line of the new HGTV show Buy Herself, which documents the increasing trend of women buying homes solo.
According to a 2009 report from Royal Lepage, the majority of single people making their first home purchase were women between the ages of 25 and 30. The new show Buy Herself, from HGTV shows that this trend is only increasing. According to the host, Sandra Rinomato, women are gravitating towards investing in real estate because of the financial security it offers.
The Ottawa Citizen also spoke with Mortgage Broker Leo Maiorino, who has seen a significant difference in this demographic over his 27 years in the field. He points out that the down payment requirement has shifted significantly over the years, making it easy for single women or men to get into the mortgage market. After renting for a long period of time, it becomes apparent that a monthly mortgage payment may not differ vastly from monthly rent. This coupled with the advantage of investing in something permanent makes buying a smart investment.
To read the full article from the Ottawa Citizen, click here.