Girls Just wanna have fun? or Security?

Home is where her heart is: 3rd annual TD Canada Trust Women and Home Ownership Poll reveals the growing importance of having a place to call your own

Although financial security continues to top the list of home ownership benefits, the comforts of home are increasingly important to Canadian women. According to the third annual TD Canada Trust Women and Home Ownership Poll, which surveyed women who have purchased a home independently, key features of home ownership, including being able to renovate to suit individual tastes and having a garden, are now more essential to Canadian women than they were in 2008.

When asked to describe the best things about home ownership, Canadian women said it is about making a house a home. Having a place of their own (34%), being able to decorate or renovate the way they want (34%) and having a backyard or garden (32%) were some of the responses that increased dramatically from the first survey conducted in 2008. Women had cited having a place of their own at 22%, being able to decorate or renovate the way they want at 14%, and having a backyard or garden at only 5% back in 2008.

"Even though the comforts of home have become increasingly important to women, the financial reasons for home ownership have also increased in importance," says Chris Wisniewski, Group Product Manager, Real Estate Secured Lending, TD Canada Trust. This year 44% of women ranked financial security as the best thing about home ownership compared to 23% of a similar sample of women in 2008. Second on the list of best things about owning a home was not having to pay rent or pay other people (38% versus 13% in 2008).

"It's not surprising that the financial reasons for ownership have increased in importance for people. People are looking for ways to feel financially stable again and see home ownership as a way to build equity and invest in their future."

The financial commitment of owning a home can be a double-edged sword; for many women home ownership offers a sense of financial security yet the financial responsibility can be a headache for others. Twenty-nine per cent of women say that the additional expenses and financial responsibility related to owning a home are their least favourite things about home ownership.

"With interests rates still fairly low, there are affordable financing options available for women considering purchasing a home," says Wisniewski. "However, as interest rates are expected to rise in the near future, it's important that home buyers consider their financial options carefully. We know home buyers have questions, especially those purchasing for the first time so we hope they will come to a branch for some great advice about the options available. For even greater convenience TD has mobile mortgage specialists who can work around their schedule to meet them anytime, anywhere."

In fact, getting more advice when talking to experts and asking even more questions is something most women surveyed wished they had considered when buying their first home. When asked which topics they wish they knew more about when they purchased their home, 40% of women wished they had more knowledge about the fees and costs associated with purchasing a home, 32% wanted more information about the expected annual expense of owning a property and 30% wanted more information about mortgage options.

To discuss financial options for buying, selling or renovating a home, including things like expected costs, Canadians can visit any TD Canada Trust branch or arrange to meet with its mobile mortgage specialists at a time and place that's convenient for them. For more information about mortgages and home equity lines of credit or TD Canada Trust Mobile Mortgage Specialists, visit www.tdcanadatrust.com/mortgages or call 416 629 5363 Denise Pisani.

About the TD Canada Trust Women and Home Ownership Poll

The TD Canada Trust Women and Home Ownership Poll surveyed women 18 years of age and older from across the country, to explore home ownership behaviour among women. The survey was conducted by Angus Reid Strategies with English and French speaking Canadians using the Angus Reid Forum. The sample size includes 1,000 women who have purchased a home independently. The answers from 361 women aged 20 to 45 were used to compare to the 2008 poll which surveyed this age group exclusively.

Why is buying women's shoes like Home Buying?

Gave this topic some thought, tongue and cheek, and then considered that it indeed home buying could be considered very similar to shopping for women's shoes. Sometimes they are on sale, we always seem to want the most expensive ones and there are literally hundreds to chose from.

Top Ten list for why House hunting is like shoe shopping

1) Looked great in the store but was unsuitable when I brought them home.

2) Was a snug fit I would grow into, but resulted in gross overcrowding when used all day.

3) Always needs maintenence for colour touch ups and repairs.

4) Buying emotionally results in unusable shoes.

5) The heel was very attractive but ultimately impractical.

6) The most expensive have limited time because they are always hidden.

7) The most comfortable ones you want all day long.

8) Sometimes the best fit is not the most attractive.

9) We stare for months at the shoes we want through the window.

10) hundreds of hours can be consumed shopping, trying on shoes without ever making a purchase.

11) Add yours here!

We need a few more to round out the choices. Could you suggest an analogy or one line remark about why shopping for a home is like shopping for women's shoes. Add a comment.

Female Buyers better risk than Men?

Female Buyers in Toronto west Real estate

Not every home owner is married or independantly wealthy. Some are single women, some are older women who are divorced and wanting to find a way back into home ownership. You could be their guide.

Are Realtors Marketing to This Growing Segment of the Market?

More and more single females are signing up for Memberships on sites like http://www.buyingintoronto.ca/ to get monthly newsletters about real estate market updates and trends, and Googling phrases like “homes for sale, mls listings” and other similar searches.
More of these women are buying homes on their own and 25% of these prospective buyers said they would prefer to buy a 'fixer-upper's". David Pylyp of Toronto west Homes.

This is not surprising given that women are earning higher salaries than previous generations of women and many are enjoying incomes disproportionate to what their parents earned. Single women now play a significant role in the housing market. Divorced or widowed and wishing to get back into home ownership after having to step out of their home for financial reasons or young, single women who have not owned a home before are eager to experience the pride of ownership and exercise their independence. We are seeing growing numbers of women buying their first home on their own.

Today's woman is much more financially astute than her counterpart was a decade ago, and is well versed in real estate as a solid long-term investment.

David Pylyp of DavidPylyp.com says, “I have to think that all of the new TV programs like 'Property Ladder' and 'Flip That House' have contributed to women feeling more capable of doing the renovations to a home, or at the very least, feel more comfortable about not being taken advantage of by a contractor. These shows have done a terrific job of eliminating the fear of the unknown and the fear of ‘really screwing things up' for women and for more than just a few men.”