Single women over 45 make up huge buyer segment
Single women make up the second largest segment of home purchases, with one out of every five homes purchases by a single woman, according to the National Association of Realtors.
With more than 25 million single women over the age of 45 – whether never married, divorced, or widowed – it is making up a growing demographic.
“Single women see homes as more than just a place to live, it’s a symbol of success, and provides roots and security,” says author Jan Cullinance, author of the AARP book The Single Woman’s Guide to Retirement.
These single buyers tend to look for a home that is low-maintenance, with a sizable kitchen, walk-in closets, laundry near the master bedroom, and universal design principles to allow aging in place, Cullinance said.
Some builders are reportedly adding two master bedrooms to help accommodate the 40 percent of single women who choose to have non-romantic roommates, according to AARP.
Some single boomer women are also choosing cohousing communities, which are known as CCRCs or continuing care retirement communities. These communities allow a resident to progress from independent living to assisted living to skilled nursing care on the same campus, Cullinance said.