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A place of her own

What do women want? After generations of discussion, it would appear that more than anything else, it’s a place to call home.

Women increasingly represent a key market group and they’re becoming a major force in the housing market. Canada Mortgage and Housing Corporation research indicates:

• single women are now twice as likely to buy a home as a single man;
• women are buying at a faster rate than the general population;
• there are 32,765 single women in Vancouver;
• in total, women (single, married, divorced, widowed) control a whopping 85 per cent of all home purchase decisions.

Why is this? During the period from 1995 to 2000, males earning more than $75,000 increased 25 per cent. But the number of women earning more than $75,000 increased 52 per cent in this same period.

Women now have more purchasing power than ever. And for the same reasons couples buy homes, women want to get the best possible investment. They want to build equity instead of paying rent and a landlord’s mortgage, they want a good credit rating, they want the freedom to paint their walls whatever color they choose and they want the joys of pet ownership without having to ask permission.

What are women looking for? It depends on the woman. Diana McMeekin, president of Artemis Marketing Group, says rarely is there a single type of purchaser. And it pays to recognize this.

It’s not just low-cost condominiums and town homes. Women want location, security and a home that’s well-designed and well priced. And they’re no longer intimidated by repair and maintenance, as Home Depot knows. Fully 50 per cent of purchases there are made by women.

REALTORS® who sell to this new generation know that developing partnerships is the best approach. They do this by always being respectful, accessible and approachable. And they listen so they understand exactly what women want.