Women increasingly charting their own course toward home ownership

Colleen McCormick has moved around quite a bit in her career in the medical field: Michigan, Tennessee, Texas, Seattle.

When she accepted a job as clinic manager of nursing resources with the Mayo Clinic in Jacksonville, McCormick wanted to live outside the city but close enough to make her commute bearable. She wanted to find a place with enough room for her sister to live comfortably with her, and she wanted a good school system for her 5-year-old son.

She also knew she wanted to buy.

"I've rented before," said McCormick. "It's fine, but you don't have anything to show for it."

McCormick settled upon a 2,200-square-foot ranch-style home in Creekside at Twin Creeks in St. Augustine.

Single female buyers have become an considerable force in the real estate market, increasingly opting to go the route of home ownership.

According to the latest annual report by the National Association of Realtors, in 2018 single female buyers accounted for 18% of all buyers, coming in behind married couples (63%).

In 1981, just one in 10 homebuyers were single women; today, that number has jumped to nearly one in five. What's more, they're purchasing homes at twice the rate of single men, who made up just 9% of buyers.

Stefan Zander, a Realtor with 97Park, a real estate office in St. Augustine, says he's noticed the trend over the past several years.

"Some are the millennial generation, others are middle aged, late-40s or 50s," Zander said. "Sometimes, they're looking for a vacation home in the area."

Zander said the women he's worked with tend to be looking in the $150,000 to $200,000 range, or a bit higher, to buy here in Northeast Florida.

The most recent figures by the National Association of Realtors found that single women nationally purchased homes at a median price of $189,000.

Homeownership can provide single women with stability, according to Matt Figlesthaler, director of sales and marketing for Lennar Homes.

"Rent doesn't give you a clear picture of where you're going to be a year or three years from now, it gives you equity and you know where your kids are going to go to school because there won't be a landlord telling you he's selling the property," Figlesthaler said.

Kristina Dods, who works in real estate, made it a personal goal to have her own home by the time she was 40 —and she did, closing two days before that milestone birthday.

Dods, who lives in St. Augustine's Windward Ranch, didn't rush into the decision, though, planning for about a year before taking the plunge.

She recommends: "Have patience and flexibility with finding that one in a million gem. Most of us have champagne taste with a beer budget, so be realistic. Don’t rush. I knew I wanted a home, and I committed to it. ... Gather your information, do your research. Be flexible."

McCormick didn't rush the process, either, looking at about a dozen styles of houses before committing to a two-bedroom, two-bath home in Creekside at Twin Creeks off County Road 210. The layout of the ranch is such that it creates a separate living space on one side of the house for McCormick and her son, and another to give her sister privacy on the other. The property also had enough room for McCormick to create a large fenced-in backyard for her two dogs.

Aside from the investment value and a sense of empowerment, women also say they like the practical aspect of owning their own property, such as decorating, expanding or landscaping their home to their own liking.

"Because, at the end of the day," McCormick said, "it's mine."