Women Wealth & Wisdom
Buying A Home
For many, taking the plunge into real estate is a significant step and is not without stress. For a single woman the worries intensify. Women are, by nature and nurture, more conservative investors than men and tend to spend more time thinking and worrying about money. However, real estate is a solid, practical investment that many women feel positive about. Home buying is most likely the largest purchase you will ever make, and is a wise choice for your financial goals. With some education and tips from financial professionals, women can browse and buy into the real estate market with confidence.
More women than ever before are getting into real estate independently. According to a national study by the California Association of Realtors in 2007, more than one in every five buyers is a single woman – and women are more likely to invest in real estate than men. While men are traditionally more involved in the stock market than women, real estate – perhaps because of it’s practicality – is the choice of many women.
When considering buying a home, the desire for one’s own space, the freedom to choose a location and the security of investing in property are often driving forces. Rather than paying rent, which buys monthly accommodation but doesn’t build one’s own wealth, women can invest in real estate and put their money to work.
There are a few important factors to consider before house hunting. In addition to your mortgage payments, the true cost of home ownership includes taxes, insurance, utilities, maintenance, and strata fees, if you buy into condo developments. Add your potential costs honestly for an accurate look at the expense before making any decisions.
Investing in real estate may be a very practical strategy for many women who are nervous to gamble their savings in the stock market. As with any investment, do your research, and gather advice from experienced financial professionals.