Women are do­ing it for them­selves!

George Herald - Private Property - - Property News -

Did you know that sin­gle women are now re­spon­si­ble for more home pur­chases than cou­ples in some prov­inces of South Africa and for more home pur­chases than sin­gle men in all ar­eas?

That's ac­cord­ing to the re­cent find­ings of prop­erty data com­pany Light­stone, and I find it very re­as­sur­ing with Women's Month still fresh in our minds, when we were talk­ing about the real em­pow­er­ment of women through fi­nan­cial in­de­pen­dence.

And I'm not talk­ing here about be­ing su­per­wealthy, but sim­ply about hav­ing the means to de­cide for your­self, as an adult, where and how to live your life - be­cause I don't be­lieve there is any free­dom in be­ing de­pen­dent on some­one else to pro­vide your shel­ter, food and warmth - or worse, be­ing too poor to ac­cess those ba­sic needs at all.

So what can women do to en­sure that they don't find them­selves trapped in that kind of sit­u­a­tion? I be­lieve they should be en­cour­aged, from a very early age, to save and plan to buy a home of their own - an as­set that will not only pro­vide shel­ter but grow in value and be the foun­da­tion on which to build their per­sonal wealth. In this re­gard, there are two im­por­tant things to know, the first be­ing that pay­ing off a home loan is usu­ally bet­ter than putting money into a sav­ings ac­count at the bank, and the sec­ond that once you have paid off a cer­tain por­tion of that loan, you can usu­ally ac­cess those funds again to pay for more ed­u­ca­tion or to buy an­other prop­erty to pro­vide a ren­tal in­come.

What is more, in South Africa one does not have to be es­pe­cially wealthy or earn a huge salary to ac­quire your first home. There are Flisp sub­si­dies avail­able to house­holds earn­ing be­tween R3 500 and R15 000 a month, while the banks are cur­rently grant­ing an in­creas­ing num­ber of 100% loans to those earn­ing be­tween

R11 500 and about R23 000 a month. Mean­while, women who do have their eye on build­ing up a fi­nan­cial em­pire might be in­ter­ested to know that among the rich­est self-made women in the world (i.e. those who did not in­herit their wealth), a large per­cent­age made their for­tunes in res­i­den­tial or com­mer­cial real es­tate, or in con­struc­tion or prod­ucts re­lated to real es­tate. There's def­i­nitely food for thought there…

Berry Everitt, Chas Everitt Group CEO

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