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relationship status- first time buyers

How Relationship Status Is Affecting First Time Buyers

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Single men are 16% more likely to be actively saving for a mortgage

Our survey into the accessibility of the housing market has found that there isn’t just a gender divide in the way we save money- it’s a difference between the way men vs. women save when they are in a committed relationship. Women are more often putting aside large sums of money each month towards saving for a house, whereas men who are married or living with their partner are more likely to be saving low amounts, or not saving at all.

Being in a committed relationship seems to incentivises women to save for a house, but makes men less likely to be putting aside money for a house- and those that are putting aside money are often putting aside a couple of hundred pounds less than their female counterpart. Women are likely to be making some savings for a deposit regardless of their relationship status; only 0.22% more single women reported
currently saving for a house. Conversely, men become 14% less likely to be currently putting money towards a first home if they have a partner. Men are still earning more but contributing less to mortgage savings.

A Gendered Contribution Gap

The Office for National statistics reported that in 2018, men were still receiving 8.6% higher pay than women when in full time employment. However:

  • Women are 21% more likely than men contribute over £350 a month to saving for a house when in committed relationships. (16.58 vs. 13.73)
  • Women are 42% more likely than men contribute over £250 a month to saving for a house when in committed relationships. (17.11 vs. 12.02)
  •  Men are 15% more likely than women contribute under £50 per month toward the cost of buying a house when in a committed relationship. (26.2 vs. 30.04)

While the differences are small, they highlight a consistent gap between contributions towards a jointly owned property. This “contribution gap,” combined with the gender pay gap means that women who are in committed relationships with men are likely to be contributing a higher percentage of their wages each month to achieve a shared goal.

%
Increase for men in committed relationships

16% more single men are currently saving for a house than men in a serious relationship, whereas this difference is just 0.22% for women. Despite this, 39.91% of men who are married or live with their partner believe they are ‘very likely’ to become a homeowner in 3 years, compared to just 18% for single men. That’s a whopping 122% increase for men in committed relationships. Men in committed relationships are less driven to become a homeowner, but feel far more likely to achieve this goal.

Where Does this Leave Singles?

Single men are 15% more likely to receive money towards a deposit from family members than men in a committed relationship. Conversely, it is women in committed relationships who are 16% more likely to receive financial assistance than single women.

Despite being more likely to receive financial support from family members, across the board single men are most likely to report that they find the property ladder ‘not accessible’ (28% of single men) and least likely to report finding it ‘very accessible’ (just 6%.) Single men are also most likely to report the cost of buying a property as a barrier to purchasing, and are least likely to be concerned about the implications of
reselling a property. This difference is reflected by female respondents, highlighting the significance of a dual income.

how accessible is the property ladder

This research underpins just how tough it is to get on the property ladder. Women, especially single women, face the most difficulty buying their first home. However, even with keen dedication to saving for a first home, alongside family support- many single men find the prospect of becoming a homeowner incredibly remote. Even with the gender contribution gap, women and men in committed relationships are
both more prone to feel ‘very likely’ to become a homeowner in the next 3 years; highlighting the necessity of a dual income to property purchasing. It’s no wonder so many single respondents reported feeling that this goal was unattainable.

Methodology

750 respondents from the UK were asked 17 multiple choice questions relating to lifestyle, saving habits and feelings towards buying a first home. Results were then cross filtered by gender and relationship status. We have defined ‘committed relationship’ as those who are living with a partner or married. Sexual orientation was not reported on our survey, so results include all relationship types.
View the data, sources and full methodology here

The benefits of natural light

Natural Light: The Benefits of Brightening Up Your Home

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Natural light simply cannot be rivalled by artificial light. Natural light can have an effect on both your mental and physical health, as well as playing a critical role when it comes to your overall wellbeing. Therefore, learning some of the best ways to let more sunlight into your home is invaluable.

Natural Light Sources

In order to establish the best ways of letting more light into your home, you’ll need to first understand the differences between natural light and artificial light. Natural sources include the sun, stars, moon, fire and lightning, where sources of artificial light include candles, lamps, electric bulbs, smart phones, tablets and computers.

Although artificial light can also have its benefits and advantages to our lifestyle, natural light really cannot be rivalled and letting more sunlight into your home wherever you can will help you reap its many rewards.

Health Benefits of Natural Light

When the sun’s out it makes us feel good, uplifted and wanting to get out and about. Sunlight and Vitamin D go hand in hand. Vitamin D helps to lower blood pressure, cholesterol levels and risk of heart disease. As well as this, natural light helps support the regulation of Serotonin and Melatonin levels, helps to reduce stress levels, and helps regulate Seasonal Affective Disorder (SAD).

As well as all the above health benefits, sunlight is also known to improve productivity levels and improve sleeping habits. Natural light has a profound effect on our sleep and waking habits, and is vital in regulating our circadian rhythm. Did you know that people exposed to greater amounts of natural light during the morning (8am – noon) often fall asleep more quickly at night and have fewer sleep disturbances?

The following infographic, designed by the team at Cool Shutters, outlines some of the main benefits of letting more sunlight into your home, as well as some key ways in exactly how you can let more natural light into your home. From windows, sky lighting and doors to mirrors, paint choices and flooring, there are plenty of opportunities to brighten up your home or even your office space.

In an easy-to-follow layout, the infographic starts off by pinpointing the key differences between natural light and artificial light and the various sources of each, the infographic then goes onto explaining blue light, the Lux levels of different types of lighting and then some key facts around energy savings. Going into in-depth detail, the infographic shown below also explains the many health benefits of sunlight, and then concluding with some top tips on how exactly you can increase the natural light exposure in your home.

The Benefits of Natural Light

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