By: Esther Devar, a financial adviser at Momentum Financial Planning

The emotional connection of a mother’s home

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. But property ownership isn’t the only challenge women face. 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.

The property burden on motherhood can be immense, which is why Esther Devar, a financial adviser at Momentum Financial Planning (MFP), believes in placing greater emphasis on the dual financial and caregiving roles that so many women take on.

“Whether single, widowed, or supporting families on their own, mothers need to be especially vigilant about the long-term financial implications of owning a home,” says Devar.

Devar advises prospective home-buying mothers to look beyond the bond and seek expert financial advice before signing on the dotted line.

“Homeownership represents stability and legacy,” says Devar. “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.”

Debt disguised as a dream

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.

“Preparedness is key,” remarks Devar. “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.”

Financial wellbeing first

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,” warns Devar. “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.”

Getting pre-approved for a loan can also give buyers a competitive edge. Devar believes it sends a strong signal to sellers that you’re serious and financially prepared – an especially important factor for women still facing gender-specific hurdles like income disparities or simply being overlooked in negotiations.

Ask the hard questions

Buying a home is not the time to wing it. “Ask as many questions as you need,” advises Devar. “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.”

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.

Protect your investment and your peace of mind

Once the house is yours, your 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,” says Devar. “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 yourself and your children. And that starts with understanding the real costs. “Speak to a financial adviser before making any major decision,” Devar concludes. “The right plan will protect your home and your peace of mind while you take care of what matters most.”