To better understand the psychology of modern couples in the market to purchase a home, recently Prudential Real Estate studied the differences between men and women in their roles of responsibility in the buying process. While this is only one study- it seems accurate in my experience with my buyer clients.
Here are some of the results which I found most interesting:
The 4 Top Priorities for Home Buyers Shared by both Sexes :
- Safe neighborhood
- Overall condition of the home
- Number of bedrooms
- Investment appeal and control of living space were ranked as the top reasons by both genders.
Signs of How the Roles Have Changed
- Only 39 percent of men believe financial research is their sole responsibility. This means roughly 60% feel financial research is a shared responsibility
- A minority of 34 percent of men feel making a down payment is entirely up to them
- Only 34 percent of women listed researching neighborhoods as their sole responsibility
- Surprisingly, 42 percent of female respondents believe scheduling is their sole job during the home buying process
- A whopping 87 percent of women said that looking at homes was their most enjoyable responsibility – I concur
- 43 percent of men enjoy taking care of the paperwork and applications.
- While 71 percent of women believe making a down payment should be a shared endeavor, only 56 percent of men do.
- Another disconnect found by the survey also has to do with money–while 65 percent of women believe collecting and evaluating assets and financials should be shared, only 54 percent of men agree.
- 53 percent of men believe researching schools should be a shared task, whereas only 42 percent of women concur.
If you are a couple, considering buying a home it is great to outline the various responsibilities of the process and decide how you want to tackle them. There are many elements that require time, so deciding on the division of labor beforehand can go a long way towards making the process far less stressful.
What is your experience? Please leave your comments below.