Anecdotally, many Free Sale Appraisal have known that when couples buy houses, the woman usually makes the buying decision. But now, numbers are showing up which indicate that not only do women have more control over the buying process, but more women are buying houses than men, and more have paid off their mortgages earlier than men.
When Directors of 25 of Australia’s largest real estate firms were asked who has the biggest say in the buying decision when a couple buys a house, every single director answered that women have more say in the buying decision. In addition, Sadhana Smiles, CEO of Harcourts Victoria, says that research indicates that the woman makes the decision in close to 90% of home purchases.
According to the 2011 Census, 61% of women own their own home as opposed to 58% of men. In addition, 48% of single female households have paid off their mortgages as opposed to 55% of households consisting of single males. Approximately 43% of real estate sales agents are female.
What Women Want in Properties
On 24 October, 1929, an author named Virginia Woolf published a book called “A Room of One’s Own.” In 1992, Dr John Gray would write a book called “Men are from Mars, Women are from Venus,” and turn it into a multi-million dollar empire.
Sixty three years apart, both authors agreed: Men buy with their business sense, women tend to buy with their emotions.
So what does this mean to property investments in Perth? It means that property investors should stop paying so much attention to men when trying to sell or rent a property, and start paying attention to what women want in a house.
Men just want a place to hang their hats, while women want a place that they can turn into a home. Women will pay more attention to “minor details,” especially visual and aesthetic ones than men will. They will want everything to be in great repair and to work perfectly. New appliances can often be a determining factor, as can great looking furniture and floor coverings.
The bottom line here: If you want to be successful real estate agents and property managers in Perth, make your properties more female-friendly. Call 1300 472 427 to find out more.