Toronto Condos

Investing in a Property - Single Females

A Few years or decades ago the idea of a (single) woman purchasing a house herself would have been absolutely unimaginable. Today there are many women out there that can now afford to purchase their own property by themselves Looking at the statistics, there is a steady growth and increase in popularity for single professional women to invest in their house.

The difference over the years has moved women away from the stereotype, uneducated, stay at home wife and mother. There may always be more men than women that go to university and have lucrative professional jobs, but the gap is slowly closing.

Rather than just take my word for it, let's have a look at a few recent polls. There were 44% of women who think that financial security and house ownership go hand in hand, subject to the 3rd annual TD Canada Trust Women and Home Ownership Poll, at the end of 2009. Since 2008 that signifies a 21% jump. Not paying rent to live in a house was the 2nd most popular answer to the question about benefits of property ownership. 38 percent of females voted for this option. With a rise from 13 to 38% this is quite a telling change amongst the women asked.

The general age of a first time property buyer is said to be 29, of which over 80% are single women, according to the IPSOS-Reid poll. Looking at the figures in more detail, we also see that 80% of those women have no children and half have got university degrees.

As a (female) Toronto realtor I see This will probably be positive, but there is unsatisfactory news as well. In spite of this very amiable trend, men, even in the same jobs usually earn slightly more than women, no matter whether they are better or worse. Statistics still show that women buying properties by themselves have more chance of running into problems, such as paying off a mortgage, than their male counterparts or if they were part of a married couple.

picture by Tizzie

Transform Your House

Imagine you have bought a house. It is all yours now. Its condition, however, is not great. It may be a little old with numerous faults which should be taken care of. Shortly, a refurb is essential. This article aims to offer some (useful, I hope) tips that could be used when purchasing a home which really should go through a refurb. 

Exterior should be checked at first. Do you have a big garden with over grown trees and grass? Take proper care of it, so the exterior will look nice. You could do whatever you want: new plants, trees, a pool or perhaps something for kids. It is your decision only, as it is you who should like the way your garden looks. 

When you are finished outside, you can start with the interior of the home. The walls should be painted if necessary. Also, the floors, carpets, ceilings, windows or doors should be in a good state. Throw away and change everything that does not seem like it is going to be very long-lasting. Eventually, it might cost you less than repairing it again and again. 

From all the rooms in the house, kitchens and bathrooms are usually the most complicated and need more time than the rest - as some of them really only need furniture and paint. In case you have bought a house but not living there right from the start, it is better to start repairing these rooms at first. When you finish them, the hardest part of your work should be done. Of course, in some homes these rooms may be in much better condition than the rest of the house, so they will not need too much time spent on them. 

Be careful, if you are buying a home just because it is very cheap, but in a terrible state. it may cost you a lot more than a nice home that requires less work. Before purchasing a home for refurb, calculate the approximate cost of the transformation, so there are no horrible surprises at the end when get all the bills. 

I wish you the best of luck with possible future refurb of your home. Please, share your thought in case you have experiences home refurb before.