Email your list of favourites and saved searches to your mobile device or share with friends!
A wise female financial advisor once explained to me the difference between how her male and female clients view money. “For most men, money is a river: as long as it keeps flowing, everything is fine. For most women, money is a lake and they get nervous if it ever starts to go down,” she said.
I was thinking about that recently when I was working with a young, single woman who was looking to buy her first home, a Mount Pleasant condominium.
Though it would stretch her budget she insisted on a two-bedroom unit. She explained that she would need the extra space for any family visitors and ”if things ever get tight, I can Airbnb the extra room,” she said, adding she was confident the eventual resale value on a two-bedroom would be higher than from a smaller suite.
It was the kind of pragmatic thinking I have seen during an increasing number of transactions involving single women buyers. These ladies are not all young or buying their first home. Some are seasoned investors looking for a second or even third property. Some are mid-age divorcees moving up. Others are older and moving on after the death of spouse.
But they share certain characteristics: they think long term, they think of others; they are earning or have access to sufficient funds; most are willing to buy a home that needs some renovation; and they are not afraid to mix-it-up in multiple-offer, multi-bid situations.
There are few hard statistics on how many homeowners are single woman. U.S. studies say it is around 18% and most Canadian estimates are in the 20% range. In Metro Vancouver, I think it is closer to 30% for single women who have never married, 50% for divorced or separated women and even higher for widows.
I believe the number of single-female buyers is increasing, and this is backed up by a recent mortgage survey by a major Canadian bank. It found that 49% of single women plan to buy a home, compared to 35% of single men. As the study found, women are more cautious than men when shopping for a home, continually weighing costs, affordability and potential appreciation into their decision.
So what do Vancouver women really, really want in a home?
Well, most are buying condominiums, though a number of our older female clients are moving up or laterally into a townhouse or detached house. But there are some desires that all women seem to share: they want a safe yet lively neighbourhood with shopping, dining, entertainment and transit close at hand, and, in strata buildings, they want well-lit and accessible parking.
And, I have found, they like to feel they can take care of themselves, both physically and financially. If they view money as a lake, I believe today’s women see their own home as a ship they can steer to financial security.
Featured Listings
Fawn Bluff,
Bute Inlet
$28,800,000
Four Hearts Ranch,
South Cariboo
$23,800,000
1143 Highway 3,
Okanagan
$8,700,000
Seven Stones Winery – 1143 Hwy 3,
Okanagan
$8,700,000
4235 West 29th Avenue,
Vancouver West
$7,380,000
4572 West 3rd Avenue,
Vancouver West
$6,998,000
Butedale Bay,
Princess Royal Island
$6,200,000
The River House Estate,
Telkwa
$4,998,000
3823 West 11th Avenue,
Vancouver West
$3,788,000
8596 Squilax-Anglemont Road,
North Shuswap
$3,280,000
301 – 2102 West 48th Avenue,
Vancouver West
$3,280,000
498 Ellis Street,
Okanagan
$3,274,800
450 Matheson Road,
Okanagan
$3,195,000
2791 Alamein Avenue,
Vancouver West
$2,998,000
2787 Alamein Avenue,
Vancouver West
$2,688,800
1-1310 W King Edward Avenue,
Vancouver West
$2,669,900
2-1310 W King Edward Avenue,
Vancouver West
$2,629,000
5880 Clarendon Street,
Vancouver East
$2,338,000
5411 Steveston Highway,
Richmond
$2,088,000
2789 Alamein Avenue,
Vancouver West
$1,998,000
9380 Francis Road,
Richmond
$1,799,000
1508 East 3rd Avenue,
Vancouver East
$1,688,000
2006 West 14th Avenue,
Vancouver West
$1,688,000
4111 Hudson Street,
Vancouver West
$1,629,000
2504-6288 Cassie Avenue,
Burnaby South
$1,419,000
4105 Hudson Street,
Vancouver West
$1,229,000
2008 West 14th Avenue,
Vancouver West
$1,198,000
4343 Windsor Street,
Vancouver East
$1,189,000
10216 125 Street,
North Surrey
$1,098,000
58-10199 River Drive,
Richmond
$1,069,000
803-8160 Lansdowne Road,
Richmond
$888,000
Cottage Siavonga,
Africa
$499,900 USD
15-145 Redwing Place,
Okanagan
$325,000
190 Peregrine Place,
Okanagan
$205,000
Our Real Estate Listings
Neighbourhood Profiles
Our Real Estate Blog
Contact Us
Head Office: 1838 West 1st Avenue Vancouver, B.C V6J 1G5 Fax: 604-224-5279 Email: info@faithwilsongroup.com