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Single homeowners: One-person households a growing trend

 

THE number of one-person households has grown to make the segment one of the fastest-growing in the housing market.

 

According to the experts, 24.3 per cent, or nearly one in four properties, are single-person households, reflecting the changing demographic trends.

 

“Single people, for example, are waiting longer to get married or enter into a long-term relationship,” explained Professionals WA chief executive Shane Kempton.

 

But industry operators say singles should still focus on all their options, taking into account all property features when making the decision of what to buy.

 

“Single people should take time to find a home that suits their requirements,” Mr Kempton said.

 

“And that means doing all their homework by determining how many bedrooms they need, approximate size and which neighbourhood they prefer.”

 

The single-household numbers have led to more one-bedroom units being built, especially those in areas with high levels of social infrastructure.

 

But buyers are being warned to balance the lack of interior space in the one-bedroom properties out by paying close attention to the size of the balcony or courtyard, because outdoor living features are considered one of the top trending aspects of housing.

 

“Car parking and security features are very important when buying a home because more single people are demanding higher levels of security, and these features can impact on the resale value of the property,” Mr Kempton said.

 

He said it was important that solo buyers did not financially over-extend themselves: “It is important not to overextend yourself by purchasing a home based on an emotional decision rather than your specific needs.” .

 
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