The Changing First Time Homebuyer Demographics
The demographics of first time homebuyers has observed a considerable change in the previous few years. Specifically, more single women are obtaining property by building up their own individual equity.
Single women account for 25% of home owners. Marketing and advertising methods in the real estate neighborhood are starting to focus significantly more on unmarried women.
Condominiums, with their very little yard maintenance, have become stylish with this first time home buyer group. Normally, if the condominium features a lawn, outdoor patio area, fencing, or driveway with snow to shovel, those jobs are looked after as an element of the condominium’s association fees. The same goes for some other regular upkeep in condominiums. Numerous condo operation groups have on-call plumbings, electrical contractors, and cooling and heating professionals to assist and manage problems for condo owners, making these kinds of places popular locations for single ladies who still lead active way of lives, in addition to other first-time homebuyers.
Security is another common concern. Condominium living generally provides security steps including worked with security staff, or perhaps controlled entrance buildings and neighborhoods. In condominium structures, even vehicle parking is often secure..
Single family homes are more private and provide more opportunities for pets to be outside. Owning an animal is certainly one item that must be reviewed with condominium owners in advance of purchase, as some buildings as well as communities have limitations.
The demographics of first-time property buyers have altered. Based upon your way of living and personal requirements, you’ll have lots of choices ahead to obtain your perfect first home. FamilyLending.ca is here to assist with your mortgage brokerage needs.