February 7, 2013

All The Single Ladies: How single women are shaping the Canadian housing market

What do women want in regards to the housing market? More often than not, a gargantuan walk-in closet and endless interior design possibilities would satisfy most women. 

An article titled How single women- and what they want – are shaping the new housing market in The Globe and Mail outline this trend in more detail. What is particularly interesting to note is that on the whole, single women are expecting more features and amenities for their home and approximately one-third of all condo sales in Canadian cities have been made by women in their 20s.

What used to be a niche market is one that is the fastest growing, and according to a Royal Bank of Canada poll that was released last May, women are 49% more likely to purchase their first home home in the next two years compared to men at 35%. According to that same study performed by The Globe and Mail, here is a quick list of what women are looking for in their new home:

• A better location will trump square footage: Neighbourhoods that are more established generally have more amenities, have a great walkability and feel safer. Gyms in particular are of high interest.
• Security present: Closely related to the last point, having a place that is well-lit with a concierge add to the wanted need to feel safer.
• Closet space: An unspoken given. Bigger is better!
• Design options: The home must have a unified theme that looks great over all but does not overlook the finer details.

Book your mover. If you’ve decided to get professional help, make sure to inquire about extra charges such as: moving heavier items like a piano or if travelling time and breaks for staff are bundled into the cost – don’t forget to ask if a minimum of hours is required as many companies need you to book at least 2 hours. Once you’ve chosen the mover, have a clear conversation about what you will be moving so they will be able to know what staff will be needed, the appropriate-sized truck or special materials for extra padding, etc. Don’t forget to budget in a tip ($20 a person is standard). 

Transfer your services. Notify your home services providers on what date you will be requiring a transfer for your accounts – landline, cable or Internet etc. – about one month before the move. If you would like the services in your new condo ready to go, set up an appointment for installation as soon as you have your move-in date. Don’t forget to cancel or switch over other accounts such as utilities in order to avoid crossover charges. 

Check the new condo rules. Some buildings have regulations such as no move-ins on certain days or times or require a deposit for the elevator key. Make sure to find out – you don’t want any unpleasant last minute surprises. Inform the concierge of when you’ll be moving in. They may be able to help facilitate the move; for example, to prop open the main entrance doors.