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The Question of Singles and Home Buying

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Although not directly related to investment properties, An interesting trend revealed in the shadow of the housing crisis is that of single adults investing in homes. Studies show that for the first time in history, more homes today are owned by unmarried adults than by families. Of this, a staggering 28% are owned by single adults, who are buying property in an effort to feel more ‘settled’.

Studies show that single women are outstripping single men in the desire to own a home. As of 2006, there were 22% single women homebuyers compared to a mere 10% single male homebuyers.  While some may consider this figure a powerful representation of growing female independence, others believe it may be a sign of the times. With more and more people in the current generation choosing to marry late, or not marry at all, an investment in a home could simply be an alternative means of ‘settling down’.

Whatever the associated symbolism may be, the question at hand is whether this is the wisest economic decision for the parties involved. While owning property is often considered an excellent investment, buying a home generally comes with riders like limited mobility, opportunity cost of the investment, and sizable annual expenses in property taxes and maintenance. Given this scenario, might not several of these singles fare better in alternative means of housing?

For a more detailed exploration of this matter, continue reading by clicking here.

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