ENGAGING THE SINGLE FEMALE BUYER

ENGAGING THE SINGLE FEMALE BUYER

Single women have different buying considerations than those of other buyers, a Harvard University study found.

NEW YORK – Real estate professionals should understand female buyers to be successful, including the preference for safe neighborhoods and gated communities.

The Joint Center for Housing Research at Harvard University found that women prefer condominiums, townhomes or single-family homes within a gated or structured HOA development and a focus on unchangeable safety features within each home.

They avoid homes in dark areas, near parks or alleys or those with doors hidden away from the street and prefer homes with drive-in garages with inside access, well-lit entrance paths, and built-in alarm systems.

Women buyers also want to see crime statistic research, speak with the local police department, visit neighborhoods at different times of the day and speak with potential neighbors. Women also are willing to compromise on home size for a location near amenities, with many younger professionals preferring to live near the “city center.” Internet quality and infrastructure are also important, as are the availability and reliability of delivery services.

Across all ages, women seek low-maintenance homes with modern conveniences, including newer residences that need fewer repairs, less maintenance and minimal yard upkeep. Women also tend to look for useful smart home features that positively impact convenience, energy efficiency, and safety.

Homes also should have a flex area for fitness or hobbies or a dedicated office, which can be useful during the resale process or as part of home’s long-term investment and resale value.

Source: Inman (01/03/24) Wasserman, Bobbie

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