It can seem daunting, but with planning and the right advice buying a home alone can be a smart move.
Not only do more women own their own homes than men, they’re also more likely to be active in the housing market in the near future, according to data from Westpac’s home ownership report, released today.
The data – based on a survey of more than 1000 home owners and first home buyers in Australia – shows 71 per cent of women are considering either buying a home or investment property, renovating or selling in the next five years, compared with 61 per cent of men.
“Our research suggests women are becoming savvier and feeling more confident in the property market. They understand that home ownership can lead to greater financial security and adding this was particularly important to women who face income inequality and unpaid maternity leave.
- Set Goals
Book a meeting with a mortgage broker
Work out what I can afford to pay back
Create a household budget
- Make a list of the must have and the wish list in a property
- Research the property prices by
Number of bedrooms. bathrooms, secure parking
Units, houses, apartment
It’s important to keep this into perspective and ensure you buy smartly, but also that you purchase a property you can see yourself calling home.
During the decision making process, you should be looking for the following:
- A property within your budget
- A suburb that suits your lifestyle and goals
- A property close to all amenities