Women- Majority of 1st Time Home Buyers

The deadline for the First Time Home Buyer $8,000 Tax Credit is approaching (November 30th) and prospective buyers of Boston condos should keep that mind when on their search…especially women.

65% of first time home buyers are women and today more than ever and single women make up more than 1/3 growth in real estate ownership since 1994. In 2006, a study at Harvard University found that 1 in 5 buyers of real estate were women. There are twice as many unmarried women buying homes than single men, which has lead to a new trend in real estate construction where more features are catered to appeal to female first time home buyers.

Here are a few examples of what women buying real estate are looking for:

-prefer two bedrooms or more
-tend to buy in city areas over suburban areas
-will compromise size & cost to get other amenities
-will not compromise on location or quality of neighborhood
-walking distance to stores & restaurants
-newly finished hardwood flooring
-light-colored walls
-ample drawer & counter space
-walk-in closets
-well-lit parking
-condos with front door guard
-home security systems
-like to engage with neighborhoods/community feel

Women home buyers come in a wide variety of age ranges, income levels, and marital status. Motivation for more women first time home buyers comes from the strong desire to own her own home, to relocate close to a job or family, and the need for more space. With incentives such as the First Time Homebuyer Tax Credit and some of the deals available on some real estate inventory due to the economy, women are opting to buy real estate more than men to save money and gain their own sense of ownership.

Here’s some reminders about the First Time Home Buyer $8,000 tax credit:

-expires December 1, 2009
-tax credit does not have to be repaid
-equal to 10% of the home’s purchase price up to a maximum of $8,000
-single taxpayers with incomes up to $75,00 and married couples with incomes up to $150,00 qualify for the full tax credit

Learn more specifics on the First Time Homebuyer $8,000 Tax Credit

Interested in buying a new Boston condo? Contact us today and learn how you can save EVEN MORE on our cash back on commission! In addition to the $8,000 tax credit you can save $$$ when you purchase your new Boston condo through CondoDomain – 617.314.7704

Tags →
A Real Estate Blog by
A Real Estate Blog by CondoDomain