About Me

As a professional mortgage consultant with Complete Mortgage Services, I am passionate about helping my clients achieve their financing goals while maximizing their value. This means lower rates, the best terms and paying off your mortgage as fast as possible. I have the knowledge, expertise and relationships to ensure that you get the best mortgage product at the lowest possible rates

Thursday, February 2, 2012

A Shift in First Time Homebuyer Demographic

The demographics of the typical first-time homebuyer are changing these days.

More and more women today can afford to purchase a property on their own to

build up valuable equity and are no longer waiting to find a life partner before

they pursue the financial and lifestyle benefits of home ownership.

One in four buyers these days is a single female, and new home marketing is

actually starting to reflect that. Women may be ready to jump into the

commitment of home ownership but not all are willing to give up their valuable

free time to do outdoor chores. Thus, single women tend to look for homes

that require little or no maintenance with an option to plant container gardens.

Sound familiar ladies?

The easiest and most popular way to hold on to a maintenance free lifestyle is

to purchase a condominium. Its problem-free upkeep and unencumbered

lifestyle is an obvious benefit to people who don’t want to be tied up every

weekend with chores – there are no lawns to water and mow, and no leaves to

rake. No yard means there’s no fence or deck to repair, and no driveway to

shovel in the winter. Choose a condo and you’ll never have to worry about this

stuff. Condominium members are charged a flat monthly fee to cover

maintenance of the common areas as well as provide prompt service by

reliable tradespersons if there are maintenance problems in your individual

unit. Heating, air conditioning, plumbing and electrical problems are handled

by maintenance staff or service agreements set up by the condo association,

so good help is available at a moment’s notice.

Security is also an important consideration for single women living alone, and

the condo lifestyle can offer such measures as restricted access, a concierge on

duty screening visitors, closed circuit TV monitors, patrolling security guards

and panic buttons in garages to add peace of mind.

Some single women still prefer a more traditional home as their first property.

The appeal of having an outdoor space of your own to entertain, putter about

in a garden and relax can be inviting. A single family home usually offers more

privacy and is also better suited to larger pets. (If you have a pet and decide

to purchase a condo, make sure to check if your pet will be warmly received by

the condo board first – they uphold the rules that the condo owners have set in

place.)

In the end, the style of home you choose (e.g. condo or single family home)

will depend on your lifestyle and your needs. Identifying your needs and

requirements from the very start will help make the process of searching for

your first home easier.

(Article by Sandra Rinomato - hgtv.ca)

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