Last year, more women bought property than men.
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Mothers need to be especially vigilant about the long-term financial implications of owning a home.
Motherhood significantly impacts the financial aspects of property ownership, according to Momentum Financial Planning's Esther Devar. She advises prospective homeowner mothers to seek professional financial advice and to account for all expenses beyond just the mortgage before making a purchase.
“Homeownership represents stability and legacy. But it comes with responsibilities far beyond the initial purchase price. You’re dealing with debt, credit, interest rates, and an unpredictable world. It’s enough to make anyone’s head spin, especially when there are often more immediate responsibilities to take care of,” Devar says.
According to a 2024 report from Lightstone, women are driving the local property market. Women-only buyers own 38% of residential properties, compared to just 29% owned by men.
A report by Stats SA revealed that 45.4% of children live with only their mothers, while just 4.2% live with only their fathers.
According to the latest 2024 Q4 DebtBusters Debt Index, reflecting trends up to early 2025, a significant number of South Africans continue to rely on unsecured credit and personal loans to cover essential expenses.
This ongoing dependence highlights the persistent financial strain experienced by many households, particularly those already burdened by home loans.
Devar said preparedness is key. “People underestimate the importance of building a buffer into their budget. It’s not just about affording the monthly bond; it’s about affording the life that comes with the house.”
The financial adviser said the first step, particularly for mothers navigating homeownership independently, is to get financially prepared. This means improving your credit record, settling outstanding debts, and saving for a substantial deposit.
“You don’t want to be a slave to your bond. A larger deposit reduces your monthly repayments and can help you secure better interest rates, which is especially important when lenders are cautious due to high interest rates,” Devar warns.
Getting pre-approved for a loan can also give buyers a competitive edge. Devar believes it sends a strong signal to sellers that one is serious and financially prepared, an especially important factor for women still facing gender-specific hurdles like income disparities or simply being overlooked in negotiations.
She said buying a home is not the time to wing it.
“Ask as many questions as you need. Whether it’s about neighbourhood safety, the condition of the property, or the total cost of ownership, make sure you’re working with professionals who give you straight answers.”
The finance expert said women, in particular, often carry additional safety concerns when choosing a neighbourhood. That may mean prioritising secure complexes or proximity to schools and family networks - choices that also affect the long-term affordability of the home.
Devar added that once a woman owns the house, their next financial priority should be protection. That means not only obtaining home insurance but also understanding how to safeguard your investment against unexpected job loss or even a natural disaster.
“A financial adviser can help you choose the right insurance cover and build an emergency fund. This usually entails saving six months’ worth of living expenses in an access bond to serve as a financial lifeline during tough times, hopefully avoiding the drama behind high-interest personal loans or missed bond payments.”
In the end, Devar says the reality is that buying a home is all about building a financially sustainable future for a mother and her children. And that starts with understanding the real costs. “Speak to a financial adviser before making any major decision.
"The right plan will protect your home and your peace of mind while you take care of what matters most,” Devar concludes.
John Loos, a senior economist at FNB Commercial Property Finance, recently told this publication earlier this year that the high property operating cost inflation remains a pressing issue, with property owners and tenants in many municipalities facing tariff and rate increases significantly above general inflation, often coupled with poor service delivery.
He added that although the electricity supply has improved over the past year, above-inflation increases in electricity tariffs are expected to persist as municipalities are likely to implement further hikes in rates and other tariffs, exacerbating operating cost pressures for homeowners.