This year, the National Women’s History Project, a nonprofit organization that recognizes and celebrates the diverse and historic accomplishments of women, focused around a theme that seemed uncannily apropos – Women: Builders of Communities and Dreams. In fact, 47 percent of privately-held U.S. firms are women-owned, with the greatest growth occurring in construction. And since 1997, women-owned businesses in the building industry have grown by 30 percent.
According to a 2004 Harvard Joint Center for Housing Studies report, “women play a larger role in housing markets today than ever before.” The stereotypical male-dominated industry image is changing, with women working in all areas of housing including building, developing, remodeling, sales and marketing, financial services and others. With women’s leadership and perspective increasing in so many aspects of housing, and their overwhelming purchasing power- women purchasers of consumer products represents at least 80 percent of all buyers, according to one study – women homeowners are being courted in new and innovative ways.
“Women are the driving force behind buying, both historically and today,” said Shelly Basso, President of Aspen Homes, Inc. in Pewaukee, a participant in the 2006 Parade of Homes. “The more astute builders have been recognizing women’s influence on home purchasing for years. We are the nesters and our homes are the center of our family life, even if we work full-time outside the home. Builders are realizing that and focusing more and more on women’s interests in the home.”
Aspen Homes, Inc., is a family business that started in 1993. Basso said she has been reviewing plans and working directly with the designs from day one. “Women have a different perspective. We are very detail orientated and we think things through. Men are more concerned about where the plasma will be located and how much stuff he can fit in the garage. Women want amenities, lots of storage, and proximity to great schools.”
Basso says quality amenities in the kitchen and bath are in huge demand. Typically the women are working as many hours as the men and want to come home to quality amenities and brand names they feel they’ve worked hard to get. We’ve seen the increased use of stone, granite and quartz used in most homes regardless of what the price range of the home is. We’ve also been installing luxury amenities like steam showers, closet systems, and designer kitchens. Women want something in their home that is unique and will not be seen next door. They use their personal touches when it comes to design and decoration.
One growing population of women that is having enormous impact on home buying is single women. According to the National Association of Realtors, single women – a group that includes divorcees, single moms, widows and never-married women – have become the second largest segment of home buyers in the country, exceeded only by married couples. According to Fannie Mae, by 2010 some 31 million single women will own homes, an astounding 28 percent of all U.S. households.
Single women tend to prefer smaller homes than married couples and enjoy the amenities available in urban locations. They value quality, and are very conscientious of design trends. There are differences in the single market, of course. Women over 40 prefer upscale, expensive appliances. They generally have money to spend and want top-of-the-line materials. Women in their 30s and 40s view housing more as an investment and typically look for homes that have great resale value. Single moms look for space for their money, with lots of storage and family areas. In any market segment, women are continuing to drive home trends and purchasing in new directions.
This article has been provided by the Metropolitan Builders Association, a non-profit and non-partisan association which represents the building industry in the metropolitan Milwaukee area. The MBA develops and offers education for consumers as well as members. By establishing business ethics and industry standards, the MBA has earned a reputation as a trusted resource. Consumers enjoy our promotions for housing and housing products, while members take part in our professional and social activities throughout the year.
