TORONTO, May 7 /CNW/ - A recent survey detailed in the Royal LePage
Female Buyers Report showed that of the single, never-before married women who
are not yet homeowners, 31 per cent say they will potentially purchase their
next home within three years. Younger Toronto-area buyers tend to buy
properties in the price range of $200,000 to $400,000, while the more mature
buyer typically spends upwards of $400,000.
"Many young women are more confident than their counterparts of a decade
ago. Those who may have once chosen to put their money into their wedding
reception are now earmarking those dollars for a down payment on a house or
condo," says Yvonne Huh, a sales representative with Royal LePage R.E.S. Ltd.
Johnston & Daniel Division. "They have shifted from a need to be accepted and
to please to a determination to manage their own destinies - personal and
financial." (The Royal LePage survey showed that 34 per cent of women planning
to purchase their own home in the next three years said they would forgo a
wedding reception in comparison to 27 per cent of men who gave the same
answer.)
Canadian women now outnumber men in buying a house or a condo. Yvonne Huh
possesses insights into young women (she defines them as being between age 25
and 40) and their growing love affair with real estate. Her ability to relate
to these women (Huh includes financial, sales and medical professionals,
lawyers and teachers among her clients) has helped drive her success in the
competitive real estate arena. Huh spent a decade in marketing and sales with
large Canadian and U.S. financial institutions. Single and successful, she
says, "Home ownership is a large part of a young woman's growth into
self-empowerment and financial security."
Huh's financial services experience taught her that real estate ownership
can be a critical part of a diversified investment portfolio. "Just as an
investor would be unwise to invest all her money into the bond market instead
of diversifying among bonds, equities and other investments, she would be
unwise to rent given the opportunity to purchase. It is ultimately an issue of
return on investment," says Huh.
Young women are increasingly making a down payment rather than taking a
winter vacation. In the Royal LePage survey, of women who own, who don't
intend to purchase in the next three years, when asked, "Which one of the
following motivations most influenced your decision to purchase your home?"
the top three responses included: it makes more sense than renting (36%), want
to put my money into a good investment (22%) and pride of ownership (13%).
"I am representative of my target audience; I understand the challenges
of juggling the responsibilities of a career commitment with the cultural and
social diversions that come from living in a world-class centre like Toronto.
It's all about balance," says Huh, a Toronto resident.
Women generally tend to thoroughly research the market before making a
purchasing decision. The first-time female buyer appears to rely on on-line
research and tends to be more conservative in her search than an experienced
owner.
In Home Girl (John Wiley & Sons Canada, Ltd.), author Brenda Bouw
describes Kim, a 30-something professional woman who rents in Toronto's High
Park and has been contemplating house ownership. Kim has made an important
realization. She says, "I look for a house like I look for a man. Part of the
process is that the perfect house doesn't exist - just like a man. Turn a
house into Prince Charming. You grow together, you learn together. You have to
grow with it, to make it your own."
In contrast to Kim, mature female buyers who may be newly single or
divorced with children rely more on past experiences in home ownership and
tend to be less conservative in their home purchasing decisions.
"In Toronto, mature women see home ownership as well as renovations as a
great way to increase their equity growth. We see a mix of women who roll up
their sleeves and renovate themselves and others who hire contractors," says
Dianne Usher, vice president, Royal LePage Real Estate Services Ltd., J&D
Division.
The importance of creating positive feelings within a home is intuitive
to Huh, who brings an added touch of style and scientific elegance dating back
to the 4th century. Her expertise as a Certified Feng Shui Consultant assists
buyers and sellers alike. For sellers, she will ensure that the home is
presented to its fullest potential for maximum results. For buyers, she
assists her clients in arranging their new homes for optimal balance and
harmony.
Feng Shui (pronounced "fung schway") is the ancient Chinese art of
placement to create harmonious living and working environments. It combines
this tradition with interior design principles to enhance many areas of life,
including health, wealth, relationships, career and much more.
"I feel a real bond to a house or condo through Feng Shui. It builds a
sense of pride and ownership that brings my heart as well as business side to
every sale or purchase," says Huh.
Like Feng Shui, a woman's quest for home ownership is most successful
when guided by commitment, discipline and personal harmony.
For further information: Yvonne Huh, Sales Representative, Royal LePage Real
Estate Services Ltd., Johnston & Daniel Division, Office: (416) 489-2121,
Mobile: (416) 505-0153, Please visit: www.Comfortableliving.ca,
www.Balancewithfengshui.com, 477 Mount Pleasant Road, Toronto, ON, M4S 2L9