Saturday, March 22, 2014

Older Women Control Over 90% of New Home Purchases

The over 50 woman is solidly in charge of the purchase of new home buying in America. In years past, the “man of the house” chose where they were going to live after he retired but today, with more women working and in many cases earning significantly more of the household income, the decision making has rotated 180 degrees.

First you have to look at who is buying a new home. 30% of ALL home purchases are made by single women. When you add in the 59% of homes bought by married couples, that only leaves 11% for single men.

According to a discussion featuring women in the housing industry, women 50-plus years old are choosing to live in communities that emphasize social interaction and convenience. The experience of community is a key driver for women as well as proximity to jobs and public transportation.

Women who are 55 or older are cyber savvy and use their computers for ordering and correspondence. Modular home builders and factories need to rethink how to attract this new home buyer to modular.

Women at this age have more time to relax, engage in social activities and explore hobbies, making special-interest rooms an essential feature in new-home marketing. Don’t overlook the importance of asking if they would like a “Grandkids” room added to their new home.

Builders and factories who hope to succeed in selling to this major home buying demographic need to learn how to build their trust first. Older women over 50 are especially perceptive and will know instinctively if you appreciate them or not.

So take a very hard and objective look at the way you work to attract these important segments of new home buyers, the over 50 woman and the single woman, and go after them on social networks and print media.

And this special notice to professional women. If you are looking to get into a challenging line of business, look at becoming a modular home builder. With a factory’s help, you will find that it could be both a personal and monetarily rewarding experience. 

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