With the ability she’s shown
And the determination she’s known,
The single black female is
no longer waiting to exhale,
They’re even buying their own home.
Since 2003, single women have been nearly twice as likely to buy homes as single men. Single women now make up the second-largest group of home buyers, according to a nationwide survey by the National Association of Realtors. This trend continues as we approach the year 2018.
From 1997 to 2018, single Black women in many urban centers across America obtained more mortgage loans than single Black men.
Because of increased earning power, better financial management and determination, single women continue to widen the gap. Single African-American women also continue to outpace single African-American men in home purchasing and ownership.
Evidence of this trend comes from home improvement retailers such as Home Depot and others who target female homeowners with “Do-It-Herself” workshops. Over 200,000 women have taken the classes, ranging from decorating to how to use power tools and more.
Notice how more and more home improvement commercials from OSH, Loews and Home Depot include women as the main characters. This is no accident.
According to a 2004 State of the Nation Housing report, homeownership is on the rise and single African American women play a large role. The report further states from 1994 to 2002, unmarried women accounted for 30 percent of homeowner growth.
The number of unmarried women owning homes climbed from 14 million to 17.5 million. This trend continues as more women see the importance of homeownership and feel no need to wait until they find a man to make the plunge into homeownership.
As a service to the many African-American women who subscribe to the Black Homeowner Newsletter, I received many questions from African-American women. I took the time to pick out the top 5 most frequently asked questions from my women homeowner subscribers.
It is my hope these questions will help other women (and men) to be better homeowners. We’ve edited the questions for brevity and clarity.
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Questions and Answers:
1. What’s the best way to find a dependable contractor?
Solution: The best way to find a dependable contractor is through the recommendations of trusted friends or family. The next best way is through research. Get at least 3 estimates from contractors and check references. Successful contractors always leave clues. If the contractor you hire doesn’t have a paper trail of successful and happy customers beware.
To Check a Contractors License Click Here!
2. The contractor I hired didn’t do a good job, what should I do?
This is often the result of ignoring or neglecting the previous suggestions (See #1). But still, many homeowners experience this problem.
Solution: Discuss the specific problem with your contractor. Show the visible problems to your contractor and insist they correct the problem before the project moves forward. Inspect the contractor’s work daily to make sure it is going and looking as planned. If the contractor’s work continues to be shoddy or sloppy, you may have grounds to withhold payment or take legal action.
3. As a single woman how can I avoid Contractors taking advantage of me?
Solution: As more single women buy and own homes (almost twice as much as single men now), this question comes up more and more in my emails.
The best way to make sure Contractors don’t see your womanhood as a weakness and try to take advantage of you is to be an informed consumer. In this case, knowledge is power.
You have to do your homework, research and do your comparison-shopping. Know what you want, know the going price for what you want and know the terminology.
You can allow contractors to educate you on some technical aspects of the job, but they shouldn’t have to educate you on everything. When they sense you haven’t done your homework, the dishonest or unethical ones will take advantage of you. So your best defense is knowledge.
4. How can I make sure I’m getting the best price for the work done?
The best way to make sure you’re getting the best price is to get at least 3 estimates. Comparison shopping is one of the most dependable ways to educate yourself. You can even save money by purchasing some materials yourself, instead of having the contractor buy them, by shopping online.
5. How can I update my home without spending a lot of money?
If you have a lot of ideas for your home but don’t have a lot of money; the best way to approach this is by doing strategic improvements.
Improving key areas of your home where you’ll get the most bang for the buck. These key areas are your kitchen, bathroom and bedroom, and of course closet and storage spaces.
Conclusion
I hope these questions and answers serve to clarify and provide solutions you may face now or in the future. I will continue to share questions I receive from readers in the hope this will help others who don’t have the time or inclination to write and ask the questions.
