3 Tips for Women during the Home Buying Process
*Updated January 2018
Looking back, I have had the pleasure of working with women throughout most of my professional life. In my first career as an Esthetician, 
I worked in a Day Spa, where day after day a vast majority of our clientele was women. That’s not to say I never saw men – some guys do love their facial treatments! Fast forward to the present and my Real Estate career. Over the past 13+ years in this industry, I’ve worked with both men and women, and I can honestly say there is a difference between the two. While both are treated equally at the table, they show up with a different view on the Real Estate transaction, and their approaches and needs can be very different as well.
True or False?
Single women make up 23% of first time home buyers.
According to the National Association of Realtors – it’s true! Most women would tell you that there is a huge sense of independence in owing their own home, and it often helps them feel they are in charge of their future and financial goals. Regardless of whether they are single or not, women have a tendency to want to settle in and put down roots. Buying a home can give them the opportunity to do just that, while gaining a great sense of community and belonging. Here are the top 3 things Women need to know when buying Real Estate.
Know Your Budget
First and foremost, what can you comfortably afford? This is key, as no one wants to be “house poor”. Getting in touch with the right professionals is going to be critical, so finding a great Realtor should be at the top of your to-do list. Realtors are a great resource when it comes to buying a home. Not only do they know home buying and selling inside and out, but a great agent is going to know all the key players needed during the transaction – including a great lender.
Once you have contacted your Realtor, request the names of several Lenders they recommend. Contact the Lenders to get pre-qualified for a loan. Fully understanding how much you can comfortably afford and still maintain the lifestyle you enjoy, is going to make or break your buying experience. For example, you may be able to afford $2,500.00 per month for your PITI payment (principal, interest, taxes, insurance), but do you really want to spend that much? If you spend that much can you reasonably maintain your lifestyle or are you going to have to cut back (less Starbucks, wardrobe adjustments, less travel, etc.)? If you are not willing to cut back then you have to know what comfortable means to you, and what that equates to in a purchase price. Women tend to look at Buying as an investment into their future, and will often proceed with caution. Take a hard look at the short term and the long term goals. You may even want to get in touch with a financial advisor to understand the big picture.
Know Your Home Style
Understanding what type of home you can afford, and what other expenses may be involved in owning this style of home is very important. If you can afford a single family home, you need to know ahead of time what the monthly, yearly, and even next 5 years will cost just for maintenance. And maintenance on a single family home may include simple things like the lawn and interior touch ups. It could also be potentially large expenses such as roof repairs or new windows.
If you have a clearer idea of what style home you want, whether it is a single family home where you can plant a garden, a townhome with a smaller backyard, or a condo where the gardens are maintained for you, this can be a real time saver. Consulting with your Realtor about this is extremely helpful. They will ask the right questions to help you understand more about what type of home is right for your lifestyle in the market you are located in.
Know Your Team
Last but not least, surround yourself with a great team – Realtor, Lender, financial advisor, home inspector, etc. Starting out with the right team can make all the difference in the home buying experience. Women often rely on and trust other professionals, so forming a team you can trust will provide a level of comfort along the way. Most likely you will only buy a few homes over the course of your lifetime. Take your time, do your research and make sure you feel comfortable with making the right decision. Buying a home is a wonderful experience, but it is not something to rush.
We love helping our clients find the right home! Whether this is your first home or your fourth, we are happy to help you through the home buying and selling experience. We believe in transparency and our experience and commitment to helping you find your dream home leads you to a wonderful real estate experience. Contact us today to find out more about the programs we offer – like cash back to our home buyers and our cutting edge, enhanced listing service.
With over $500 million dollars in closed real estate transactions you can be sure the JS Realty Team knows how to get deals done! Our clients are happy to refer us to their friends and family, and you can read some of our reviews here. We are the expert Real Estate Agents you’ve been looking for!
Enjoy cooking meals in the spacious and bright gourmet kitchen that was recently upgraded and boasts a huge granite island with a breakfast bar. The kitchen also features tons of cabinet space, farm-style sink, stainless steel appliances, recessed lighting, a pantry, and access to the deck and large backyard.
Separate Dining Room off the kitchen has a gorgeous chandelier, large window, and french doors that lead to the office. The office has a 2nd set of french doors that lead to the foyer, 2 large windows and built-in bookcase and shelving.
Pride of ownership shows in this beautiful 3 bedroom, 2.5 bath townhouse! Located at 
Many windows fill this home with natural light. The living room features a new fireplace with wood mantle and marble surround. Granite counters, crown molding, and a custom backsplash can be found in the kitchen. A formal dining room showcases crown molding and a designer light fixture. Sliding glass doors lead from the living room to the patio, which is perfect for entertaining! The powder room was recently upgraded with a new vanity and flooring.
Upstairs, a light-filled master bedroom has dual closets and features an attached, recently upgraded master bathroom! 2 additional bedrooms both have large closets and can easily access a separate full bathroom.
Upstairs, the Master bedroom features vaulted ceilings, a ceiling fan, 2 walk in closets, and new carpeting. An over-sized vanity with 2 sinks and separate shower and soaking tub can be found in the attached Master bathroom. Bedroom #2 is spacious and has 2 walk-in closets and new carpeting. A full bathroom is also attached to this bedroom. In the hallway, a laundry closet boasts a new, top-of-the-line front loadingwashing machine and dryer. A second set of stairs lead up to a 3rd bedroom with a walk in closet, ceiling fan, new carpet, and attached full bathroom.
The type of lifestyle you and your family enjoy is a key component on where to buy a home. Do you like a more Urban setting where shops, restaurants and amenities are close by? Maybe even within walking distance? Or would your family prefer a more tranquil Rural setting with a little more privacy? The “stage” your family is in plays a large part in this decision. Younger couples, and singles just starting out tend to want a more urban/city location. Couples that are ready to start a family might want a more suburban/neighborhood kind of feel to raise their children. Before finalizing your decision on location, it’s a very good idea to take a look around the areas in the daytime and at night. This will give the buyer a more comprehensive idea of the neighborhoods they are considering.
Where are your family and friends located? Is it important for you to be close to grandma? Or are you looking for that happy balance between close enough to visit, but not right next door.
Commuting to your work place is another major factor, especially in our area! Northern Virginia is a growing, busy place to live. Some people are more tolerant of a longer commute than others. Do you want to be within walking distance of public transportation? We have an extensive public transportation system that includes bus services, metro, VRE, carpools, commuter buses, and more. These options can help with commuting to work. Most people still like to drive themselves to work, so knowing how long your commute will be is useful information when deciding on the location of where to buy a home.
Families with school age children will want to consider school districts. Although our area has very strong school systems, the curriculum, teaching methods, and educational options available to the students can vary greatly. Buyers should definitely factor in the educational needs of their children and compare the different school options before deciding on where to buy.