Hispanic women are upbeat about housing and they’re becoming among the fastest home-buying demographic.
Sixty-one percent of Hispanic women say they’ll play a larger role than their partner in their next home purchase, particularly when it comes to researching homes to visit, looking at communities or neighborhoods, deciding which home to purchase, and researching the finances to buy the home, according to a national study of more than 1,000 Latin American/Hispanic women ages 25 to 60. The survey was conducted by Better Homes and Gardens Real Estate and the National Association of Hispanic Real Estate Professionals.
“Historically, we’ve been able to broadly project the influence the Hispanic demographic would have on our industry by the sheer population growth alone,” says Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC. “However, it’s vital to understand that Latina women in particular are a driving force behind decisions related not only to the home, but the actual home buying-transaction process. It’s our responsibility to educate the industry on the primary roles these women have taken on as primary decision makers.”
Also, among the survey’s findings:
- Hispanic women are drawn to home ownership because they want to see and host their loved ones in their home: 87 percent want their home to be the main gathering place for family celebrations.
- 62 percent say they would buy a home with room for more people than currently live with them. A 2013 survey by Better Homes and Gardens Real Estate found that 63 percent of the overall Hispanic population wanted to have their parents, grandparents, or other extended family members live with them in the future.
- 34 percent say they would prefer a less desirable home closer to their family than their dream home.
- Hispanic women place the following amenities high on their home-shopping list: in-ground pool (50 percent); a gourmet chef’s kitchen (50 percent); a spa-like bathroom (47 percent); a “smart” home (31 percent); an outdoor kitchen (29 percent); and a built-in home theater system (29 percent).
- 48 percent of Hispanic women feel it’s important for an agent to speak Spanish and 73 percent of Latina respondents say they also prefer to work with a female agent than a male.