You heard right! All the single ladies are surpassing unmarried men when it comes to owning a home. Since 1999, according to the National Association of Realtors (NAR), bachelorettes have been snatching mortgages at twice the rate of their male counterparts, USA Today reports.
Why should buying a home just be reserved for those joined in holy matrimony? Katie Abbott, a 36-year-old lawyer from Portland, Ore., recently purchased a two-bedroom dwelling and is proud to be a single homeowner. “There’s no reason that [homebuying] should be limited to only if you’re married,” she says.
NAR found that 18 percent of homeowners last year were unmarried women — only 10 percent of single men were willing to make such a daunting financial commitment. These numbers are a reflection of the nation’s cultural shift; more women are receptive to learning about mortgages and building equity. Also, over the past few decades, women are assuming more leadership roles in the workplace. In turn, unmarried women have the wherewithal to invest in a home.
You might be considering riding along this trend, too — but wait! Before you even think about becoming a homeowner, there are a couple factors — including your monetary security and financial savvy — that you’ll need to evaluate before you purchase your dream bachelorette pad.