Lawuyi was encouraged to purchase a home after several single and married friends took the plunge. She recently bought a condo in a building in Ottawa.
A scientific evaluator for medical devices with Health Canada, Lawuyi spent the past two years living at home with her parents saving money after seven years of post-secondary education.
Her open-concept, 952-square-foot condo is on the fifth floor of the 10-storey building. A big selling feature was the building's proximity to public transportation and nightlife.
"Now that I have a permanent job, I felt I could purchase a place. The building is well-secured with underground, heated parking, a fitness centre, a party room and equipped with storage lockers," says Lawuyi.
According to a new national poll by TD Canada Trust, the majority of individual Canadian women buying homes are single and financially savvy.
The Ipsos-Reid survey focused on women aged 20 to 45 who have bought a home as an individual rather than jointly with a spouse or common-law partner. In the polled group, the average age of first-time buyers was 29, 82 per cent was single, four in five had no children, and almost 50 per cent had a university degree.
Conducted among 713 solo women living in major cities across the country, the online survey revealed that condominiums are a popular option for individual female homeowners (42 per cent).
"Women want to get into the market while they can," says TD Bank's Joan Dal Bianco, vice-president of real estate secured lending. "It gives them financial independence and a feeling of confidence."
The figures don't surprise John Doran, president of Domicile Developments. He said female buyers represent a significant percentage of his company's market.
"It's a lifestyle choice. Women ask questions, want a solid investment and do their homework."
Doran says single, female buyers are often interested in urban condos, lofts and townhouses.
"Women are very smart and thoughtful when making a house purchase. When you are buying in an urban location, you want to be close to amenities such as restaurants and shopping."
Ron Desjardins, vice-president of PMA Brethour Group, which tracks housing trends, says low interest rates and financial security are helping to drive this trend.
"Young, single, professional women are gutsy, much focused, savvy home buyers. The majority of these women tend to favour living in an urban environment that is safe and secure and close to work."
First-time home buyer Ivana Pavic, a 29-year-old federal public servant, feels a sense of pride in purchasing a place of her own.
"A lot of women are staying in school longer and waiting to be more financially sound before getting married. For me, buying a condo is a great starting point."
Pavic, who has an MBA from the University of Ottawa, has spent time studying and working in Europe. She was keen to get into the real estate market and made a list of where she wanted to live and what she could afford. She wanted to be more urban, didn't want to be house poor and wanted space to entertain friends.
"Ottawa is home because of my family and career... I can't afford a single-family home at the moment, so I opted for a terrace condo. It puts me in the market."
Pavic has been paying $800 in rent for a 700-square-foot apartment for three years. "For a couple of hundred dollars more, I've got my own place. When you pay a mortgage, you are paying yourself."
Pavic was smitten by Urbandale Development's Jazz models in Ottawa.
"It's got a lot of wow appeal. The model was so unlike anything I had seen before. I feel like I'm in a condo in New York City. It's breathtaking."
She purchased Urbandale's Harmony model, a 1,600-square-foot, open-concept, three-floor terrace condo. It boasts two balconies, a private garage, two full bathrooms and windows that stretch from the second to third floor. She is expecting to move in late August.
"Owning a condo gives me a more carefree lifestyle. If I have to work abroad, I just lock my door. I don't have to worry about snow removal or lawn maintenance," says Pavic.
Cheryl Barr, a sales consultant for Urbandale, says the company's Jazz model is a popular choice with female buyers because of its dramatic look and the security feature of owning a private garage with direct access to the home. The three Jazz designs cost from $192,900 to $231,900.
"The Jazz is a stacked condo, so you also have the security of having neighbours nearby. Fifty per cent of our buyers here are women. Price, a maintenance-free lifestyle and dynamic floor plans are big selling points. There's nothing hum-drum about the Jazz models," says Barr.
Top on the list for Mirjana Opat, a 30-year-old single mom who works for Tartan Homes, was a suburban setting with a backyard, basement and nearby parks for her two-and-a-half-year-old son, Mateo, to play.
"When I was married, I owned a Tartan home. I know their products and know they build good homes. After having lived in a home, I didn't want to move into an apartment."
Opat purchased Tartan's Silver Birch design, a three-bedroom, open-concept, semi-detached home.
"I'm fortunate that I have a good job, which means I can be financially independent. I'm single, but I can support myself. I love everything about my house, but most of all because it's mine."
--Canwest News Service
