A Helping Hand

Senior and younger single women need to address                     home maintenance to protect their                                            most valuable asset and their lifestyle.

From the record numbers of single women buying a first home to those who are suddenly single as a result of divorce or the death of a spouse, more and more women are finding themselves responsible for a home maintenance.

Department store and Craftsman tool maker Sears, in surveys of women homeowners on home ownership and home maintenance found that while most women have been or will be responsible for home maintenance, a task they look forward to, even more of them are concerned about getting a fair price from a home repair professional.

The survey by Sears found that, among other things, women would prefer to tackle home maintenance tasks themselves, but when they need a professional, good help is hard to find and even when they do find it they believe they are being over charged for the work.

Culling data from two studies that reveal what women think about home ownership and home maintenance, Sears found that 85 percent of women surveyed have been, are or expect to be solely responsible for a home at some point in their lives.

More than half said they are already responsible for basic household maintenance and repair, either on their own or in conjunction with their spouse.

However, 94 percent of them are concerned about getting a fair price from home maintenance professionals; 63 percent of them believe they are charged more than men for the same work and that good home repair professionals are harder to find than doctors, financial advisors or real estate agents.

Sears also found that 61 percent of women homeowners say they enjoy home maintenance and repair projects; 70 percent of women homeowners say they would like to know more about home maintenance and repair and 55 percent of them say it's important for them to learn more about home maintenance and repair.

The single women home buying demographic is such a powerful trend it's one of the several primary factors recent studies have credited with driving the current housing boom, a boom that's helped the economy weather the last recession and a boom that is expected to continue for the next 10 years.

Sears, Home Depot, Lowes and others hold classes and seminars for women and more companies are developing tools that are a better fit for women, but few companies exist solely for the benefit of women who want to work on their own homes.

Younger women entering the home ownership market today come with an attitude of expecting to know how to maintain their homes and being able to tackle many of the projects required. It is a matter of skill building and they are ready to acquire what is needed.

Baby boomers ready to retire in place include a large number of women who outlive men and may have to care for their home alone.

Many women recognize their responsibility of maintaining their homes since it is generally their biggest asset. They are developing the attitude of 'I can learn this.' Even if it means getting educated so they are better consumers as they hire out jobs to be done around their homes.

It is also an increasingly important issue with the aging population.  Forty-nine percent of the women homeowners 50 and over who were surveyed said they are concerned that they won’t be able to keep their homes up in years to come.

Overall, findings from the survey indicate that women clearly enjoy home maintenance:

·        83% of women said working with tools makes them feel independent

·        Three out of five would rather receive an hour of advice from Bob Vila than Dr. Phil

·        69% of women homeowners consider themselves at least somewhat handy

·        Proficiency in home repair admired twice as much as fashion sense in other women

The survey also found a number of areas where women need to learn more or are looking for advice and resources.  Specifically:

·        Women’s knowledge, confidence and abilities in home repair lag men’s

·        In 44% of married or cohabiting households, husband/partner is solely responsible for home maintenance

·        While women rely on home care professionals for maintenance, many believe they’re being overcharged

·        Good home repair professionals ranked harder to find than doctor or financial advisor

Encouragingly, most of the women homeowners surveyed by Sears said it is important for them to learn more about home maintenance and repair.

One of the factors driving women’s interest in keeping their homes up is the fact that their home is the primary asset for many women homeowners.  Forty-one percent of women said the equity in their home is worth more than all their other financial assets combined and another 30% weren’t sure which is worth more, underscoring the importance of keeping a home well maintained.

 “From the record numbers of single women buying a first home to those who are suddenly single as a result of divorce or the death of a spouse, more and more women are finding themselves responsible for a home,” said Georgeann Georges, vice president of Sears Home Services.  “Given that a woman’s home is frequently her most valuable financial asset".

"Women need to arm themselves with the knowledge and tools to keep their homes in good repair.”

“Women will pay a hefty price if they fail to maintain their homes,” Georges said.  “It is the proverbial double-edged sword.  For many women, their home is the bulk of their nest egg, but failing to maintain it means both an economic loss and a lesser lifestyle.