Why More Women are Buying Boca Raton Homes Without Partners

Women Homeowners Love the Boca Raton Housing Market for Luxury, Fashion and a Fun Vibe
Many of today’s news sources are reporting an increase in women buying homes without partners. Boca Raton is experiencing the same demographics investing because our housing market offers luxury, fashion and a fun vibe. In this week’s article we examine a closer look into why more women are buying Boca Raton homes for inspiration. 

More Women are Living in Boca Raton than Men
The American Community Survey shows more women than men living in the area. Statistics are showing 52.4% of Boca Raton are female and 47.6% are male. While there are more women living in the area, you can’t help but think how many are taking the steps toward homeownership. 

Who are these women buying homes in Boca Raton?
The demographics show many of the ladies buying properties in our South Florida town hold high educations and are financially stable to qualify for a mortgage. Also, rather than waiting to start a family, many single women are deciding to buy their first home without a partner. They also seem to seek locations such as Boca Raton for fashionable neighborhoods, safety and a fun place to live. Our Palm Beach County city meets all their needs, assuming these are what our female residents are seeking. 

More Women Seeking to Downsize
There’s also a jump in buying for a single, divorce or widows who are looking to downsize after retiring or a death of a spouse.  Regardless of the circumstances, women are making up around 20% of the buying power for real estate. Things like age and lifestyle may play a role, but women are taking precautions to protect themselves financially and buying has more perks than rent. Women want to feel secure and being a homeowner rather than a tenant does just that and more. 

Safety Plays and a Role with the Female Home Buyer
Safety would be a big reason for women wanting to buy a Boca Raton condominium. For instance, crime rate shows the area to be 18% safer than most United States cities, Miami coming in at 7% causing more single ladies to opt into homeownership in our city versus others. Comparing to the Miami/Dade counties, Palm Beach County includes less tourism and leads to less criminal activity. Women aren’t looking to live in higher crime areas and want to buy in a place where they can protect themselves. Not to mention, many of our high-rise communities offer security and on location parking. These are a few other elements making sense for women looking to invest in properties here. 

More Women are Seeking Financial Stability and Wealth
Women are also seeking financial stability and a way to build wealth. Homeownership in Boca Raton empowers female homebuyers with tax deductions and fair savings, two items rent won’t allow. (While many of you might contemplate investing in a property, your future will be more rewarding when paying to own and not be a tenant.) Building wealth with a mortgage is practical because your payments lead toward ownership and not throwing money into your landlord’s pockets. 
Women are Dominating the Men with Home Buying
On a flip side, negotiating skills might cause women to pay more for a condo, the gap is 17% females over 9% males became homebuyers in 2019. On the contrary, to women having fewer negotiation skills, they dominate the men when it comes to buying. A good realtor can help with negotiating a fair deal; therefore, bartering isn’t an issue. Nonetheless, a single woman can buy before settling down and seem to be jumping on that freedom while jumping through the hoops. 

Median Rent Prices Could Be Driving More Women to Homeownership
Homeownership is ranking high comparing to renting in the area. Sometimes, a home loan may be less per month than average median rent for the area. The median rent for 2019 is over $2,000 per month. With a mortgage stretched out to 30-year fix and depending on the cash down, you could look to pay less. This is yet another reason so many women are leaning into buying instead of rent. Also, although, there are other cities with less rent, women are considering median prices as their option to buy rather than rent. The average home price in Boca Raton is around $433,600 whereas Miami is around $324,783. While the homes are more in Palm Beach County, there’s also less population and apartments are at an all-time high. Supply and demand would be the leading cause and effect here.

Less Crowding Plays a Key Factor
The crowds are smaller in the city of Boca and caters to a more upscale clientele who want to settle down rather than looking for the nearest nightclub. News articles are showing individuals wanting to pay more to avoid crowds. Location also plays a key role in the prices. Boca Raton is a trendy town where people love to live, play and visit without parking issues and over population making this an attractive location for any real estate investor, man or woman. 

Boca Raton Offers Attractions Women Are Wanting
Boca Raton is attractive to women investors for so many reasons. Fashionable neighborhoods are one thing making women favor the location. Mizner Park, Town Center and some of the best restaurants fill the streets and communities of our city and are frequent areas for women to meet. Any of these venues provide chic architecture and designing. In addition, there’s plenty of activities keeping everyone content. Not to mention, big brands like Lord and Taylor, Mercedes, Tesla and Ruth Chris Steakhouse are integrated into favorite visiting spots. Besides the high-art communities and shopping, there are many walkable neighborhoods providing even more convenience for debutants and business ladies alike and who live in our city. 

Boca Raton is Economically Fit
Also, considering the city of Boca Raton is economically fit, it would only make sense to want to build equity in the area. Even though women still make less income, these gals are more likely to be homeowners with their efforts and believe in transitioning to single homeowners has far more value than throwing money away.

Newer Programs Such as Zero-Down are Affordable
Despite of all the perks of being a homeowner, many women are also holding back because they feel they haven’t saved enough for the down payment or they might not be able to swing the mortgage. However, there are programs offering zero-down (O.A.C.) And payments stretching past 30-years to making monthly payments more affordable. Be sure to speak with an agent to discuss options. 

Credit Scores and Making More Money
How are women qualifying for home loans on their own? They are making more money than in previous years. Many men and women care about their credit ratings and other financial securities than ever before. Because so many of these individuals realize the value in homeownership, they protect qualifying scores. 
It only makes more sense to see why women are becoming homeowners in Boca Raton. Our city offers lower crime, and plenty of resources for safety. In addition, the prices are higher but include a fashionable city, both with architecture and amenities. And you’ll be paying less than rent with all the tax breaks. But you’ll also be in an area of financial wealth, which is the biggest reason a woman would want to become a home buyer. 
Contact our professionals and discuss the best properties fitting your needs.