From the Press of Atlantic City:
Angela Cottrill likes having control over the place where she lives.
The single hairstylist wanted the investment of owning a condo, so she put in extras hours at her job and saved money to buy her own home after living with roommates in apartments and in a small house in Linwood.
“After a couple of years renting, it sort of became a little silly to throw money out or spend time fixing up the place when I know when my lease is up or when I left, I would essentially be left with nothing,” said Cottrill, 28, who bought her Somers Point condo in September.
After married couples, the next largest demographic group of homebuyers is single women, according to the National Association of Realtors and New Jersey Realtors.
“Unmarried couples, single females and single males, they all seem to be a growing share, especially among younger, first-time buyers,” said Jessica Lautz, vice president of demographic and behavior insight for the Realtors group.
More single women are purchasing homes each year due to their increased job stability, said Angela Desch, broker manager, residential and commercial, Coldwell Banker Argus Real Estate in Ventnor, and vice president of the Atlantic City and County Board of Realtors.
“For example, some professions, like nursing, where there is a shortage and wages seem to be quite competitive, those in that industry are able to finally afford a home on one income. First-time homebuying grants are also helping,” Desch said.