The results of the latest Consumer Outlook Survey conducted by Prudential Real Estate for the third quarter of this year show men and women view home ownership differently, and especially the responsibilities associated with buying a home.
According to the article in RISMedia, women are more responsible for planning the move and researching neighborhoods, while men tend to assume responsibility for the financial issues of the sale. Some 39% of men in partnerships claimed the job of researching mortgages and securing a mortgage were their responsibility, while 34% of women in partnerships assume responsibility for researching neighborhoods, and 42% of women in partnerships assume sole responsibility for managing appointments associated with the purchase.
Interestingly women enjoy the whole procedure more than men, as 87% of women questioned in the survey were found to have enjoyed looking at homes compared with just 77% of men. Reasons for wanting to own a home differed between the two sexes, as men wanted more space for their family and more control over their living space, while more women associated home ownership with accomplishment and a sense of pride than for men.
What’s interesting about this survey is the role that real estate agents need to play in the whole process, and the necessity of balancing both parties’ objectives. In addition the survey also discovered a difference in the perception of shared responsibilities of buying and selling property. According to 71% of women, making the down payment is a shared responsibility, while just 56% of men took this view. Some are 53% of men thought researching schools should be a shared responsibility, while just 42% of women agreed with this view. When it comes to the question of evaluating assets, 65% of females viewed this as being a shared responsibility compared to just 54% of males. The importance of keeping the house tidy and in order for potential buyers was viewed as a shared responsibility by 47% of women, something that was agreed with by 63% of men.
Some aspects of home purchase are viewed equally by both sexes, including the overall safety of the neighborhood, the condition of the property and the number of bedrooms. With such differing opinions over so many aspects of buying and selling it’s hardly surprising to find that 92% viewed their last real estate agent as being helpful during the sale, and some 86% thought their agent’s point of view was just as valuable, or even more valuable than their partners. According to the survey, consumers confidence in the recovering real estate market is high.