“Women today are not homemakers. They are rapidly becoming homeowners.”

– Dame Judy Dench

Women are the backbone of every household. She is the light of that family. In modern society such as today, more women are experiencing improving career opportunities, along with growing awareness about the potential of real estate. So it’s hardly a surprise that women homebuyers are becoming a force to reckon with.

The pandemic has brought into focus the need for security and safety, especially in one’s own home due to this unprecedented crisis. High-paying jobs provide financial independence, thus creating new aspirations and dreams for the millennial woman. And, property investment seems to be a power play, also paving the way for long-term financial stability. This is more visible in metros like Mumbai, Pune, Bengaluru, and Chennai, among others. It also brings in the workforce from non-metro locations, who harbor aspirations to set up their homes in modern cities. let’s understand the phenomenon of the rising number of women homeowners.

Funds Diversification

Women have predominantly been considered significant influencers when it comes to home-buying decisions. However, we have slowly seen that change from secondary to primary homebuyers. Women are instinctive buyers; we are seeing this trend of women as primary homebuyers picking up, not because they’re making decisions for the family, but for themselves. Women are taking the lead in making their own decisions when it comes to their investments. And real estate has consistently emerged as a security asset, for the women of today.

The Future Consists of Female Oriented Millennials

The pandemic has many a millennial rethinking their housing options. Earlier, not everyone was keen on investing in a house in the city due to career prospects. But now, that women are financially stable-the pandemic has got them working from home and has given them the time to revisit their respective financial status. Home investment is also a way to diversify one’s portfolio and ensure a security blanket. Women are now stepping up and asking about investment options that can earn for them. Women tend to value homeownership, not only as a financial investment but also as a marker that identifies their financial and emotional independence.

In favor of ‘HER’

As the number of working women investing in the residential property market is only going to surge further in the foreseeable future, all associated stakeholders including builders, lenders, and governments, are making special provisions to attract and facilitate women’s homeownership. One notes, that over the past few years, there have been several benefits accorded to women investing in real estate. These incentives are aimed at attracting more homebuyers to invest in the residential market & provide an overall boost to the segment. Our advice to any homebuyer investing in the residential market is to make an informed decision. One should conduct complete due diligence on the project including construction quality, developer profile and track record, credentials of project completion timelines, the value of the location, and the amenities being offered at the moment. Considering all these complexities, Pyramids is one stop solution where female clients can have real estate advice to have well-informed investment decisions.

Home loan interest rates for women

A majority of home buyers in India rely on housing finance, to buy properties. While this credit enables consumers to own properties in the early years of their working life, it also increases the overall cost of the purchase. Women, however, do not have to spend as much as men, as several banks offer home loans to women at lower interest rates. Typically, home loans meant for women are priced 50-100 basis points lower than the average rate. (A 100 basis point makes up for one percentage point.)

If a woman were to take a home loan from the country’s biggest lender, State Bank of India (SBI) at present, they would have to pay only 6.80% interest, if the loan size is up to Rs 30 lakhs. On the other hand, the effective rate for men is 7%. For a similar loan amount, housing finance company HDFC currently charges 6.90% for women borrowers. For men, on the other hand, the interest rate may be higher per annum.

In nutshell, no time is as favorable for women real estate buyers as today. All they need is a trusted real estate partner who understands their needs and caters to them with informed real estate options. Pyramids as a market-leading real estate solutions firm can come to the rescue of such strong women.

Every woman is a queen and she deserves her palace to whom she calls home.