WOMEN EMBRACE FINANCIAL INDEPENDENCE: PROPERTY INVESTMENT BEFORE MARRIAGE

by Taryn Davies Stevens • 3 MIN • 560 Words

An increasing number of women are prioritizing their financial independence by investing in property before tying the knot. South Africa has witnessed a remarkable surge in single women owning residential properties, surpassing the number of men or married couples making such purchases. The trend is further fueled by women's decision to delay marriage, pushing the median age of brides to 33 in 2021, up by 1% from 2017, according to Stats SA.

Despite facing gender wage disparities, with women earning between 23% and 35% less than men for equivalent work, the gender wage gap is slowly narrowing. This positive development has empowered financially capable women to invest in property either as their primary residence or as buy-to-let investment opportunities. A Bank of America study reveals that 87% of women believe they can own a home without being married, and 65% of single women prefer investing in property while single rather than waiting for a partner.

This growing trend challenges traditional notions that marriage should be synonymous with home ownership, indicating that women are taking charge of their financial destinies. Morgan Stanley's study predicts that 45% of women aged 25 to 44 will be single by 2030, as many opt to delay marriage, remain single, or experience late-life divorces. Additionally, women are increasingly postponing motherhood or opting for smaller families, redirecting their focus towards building careers and investing in secure assets like real estate.

Data demonstrates that single women aged 31 to 35 constitute a significant portion of homebuyers in the South African market, suggesting that they prioritize career development and choose less risky saving mechanisms over starting families. Property investment, considered a safe and tangible option, is preferred over complex money markets, stocks, and shares.

Women's limited earning capacity, compared to men's higher salaries, necessitates playing to their strengths when engaging in property investment. While some women may lack DIY skills or confidence in dealing with male builders and contractors, their administrative, communication, and negotiation abilities make them "excellent" landlords. For women with confidence in navigating the rental market, buying properties for rental purposes can yield a solid income stream to supplement their salaries and pave the way for building a property portfolio.

Property choices for women revolve around security and location, particularly considering that they head 42.1% of South African households, with approximately 7.5 million women serving as main income earners in their families. As the primary breadwinners, women prioritize financial security and long-term investments, leading to preferences for sectional title properties that offer convenience, minimal maintenance, and communal security. Proximity to amenities, such as swimming pools and gyms, is valued, especially by women with younger children who also seek properties near schools.

Additionally, the growing trend of multi-generational living prompts women to consider accommodating parents or relatives in their homes. This may influence their choices, with some opting for larger properties with garden cottages or single-level homes for the convenience of older occupants.

In conclusion, women's increasing involvement in property investment before marriage is a testament to their pursuit of financial independence and long-term security. By challenging traditional norms and making well-informed investment decisions, women are forging a path toward success in a historically patriarchal society.

Property ownership not only sustains financial well-being but also empowers women to provide for their families and secure a prosperous future for generations to come.

INTRO REAL ESTATE, it’s the right choice.

woman property investmentrentalstats saSOUTH AFRICAfinancial independence

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