Why First-Time Buyers should stop waiting

• Women now own or co-own nearly 60% of South African homes as solo homeownership continues accelerating.
• Rising rentals, housing undersupply and long-term value growth are pushing more first-time buyers into the market.
• Smart budgeting, research and due diligence can make owning property more achievable than many believe.

For many South Africans, buying a first property still feels financially overwhelming, especially in an environment shaped by rising living costs, economic uncertainty and interest rate pressure.

Yet despite these challenges, a growing number of first-time buyers are entering the market, driven by the long-term value of homeownership, rising rental costs and a desire for greater financial stability.

One of the most notable shifts in recent years has been the rapid rise of female homeownership in South Africa.

According to Renier Kriek, almost 60% of South African homes are now owned or co-owned by women, with many increasingly purchasing property independently without a spouse or partner.

The rise of the female homeowner

‍Changing family structures, shifting career dynamics and a growing focus on financial independence are reshaping the property market.

More than 40% of South African children now reportedly live with their mothers only, a demographic shift that is influencing buying trends and increasing demand for stable, long-term housing security.

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“Traditionally, homeownership has been seen as a way to create stability and security,” says Kriek. “That mindset, together with changing demographics, is helping drive the rise in women buyers.”

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While affordability remains a concern, many buyers are realising that waiting indefinitely for the “perfect” economic environment could ultimately leave them further behind as property prices and rental costs continue climbing over time.

Kriek believes structural housing undersupply and pent-up demand will continue supporting the residential market despite economic headwinds and geopolitical uncertainty.

Buying a home on a solo budget

‍For single-income buyers, the key is not chasing the biggest property possible, it is understanding affordability realistically and planning carefully. The process starts with:

• Understanding your credit profile
• Reviewing monthly affordability honestly
• Reducing unnecessary debt
• Building a deposit where possible
• Researching financing options thoroughly

Kriek advises buyers to explore all available assistance programmes, including government support such as First Home Finance subsidies, which may assist qualifying buyers with once-off capital support.

At the same time, he warns against relying on expensive unsecured debt or informal lending arrangements that can quickly become financially destructive.

Lifestyle discipline also becomes critical. Reducing discretionary spending, paying off smaller debts and improving disposable income can significantly strengthen a buyer’s bond application and long-term affordability.

Understanding the true cost of ownership

‍One of the biggest mistakes first-time buyers make is focusing only on the monthly bond repayment. In reality, ownership includes:

• Transfer and registration costs
• Transfer duty
• Municipal charges
• Levies and utility costs
• Insurance
• Maintenance and repairs
• Unexpected property expenses

These hidden costs can place pressure on households if not properly budgeted for from the beginning.

Getting value from property

‍For many first-time buyers, sectional title properties remain one of the smartest entry points into the market. These properties offer:

• Lower maintenance responsibility
• Shared security costs
• Access to lifestyle amenities
• Better lock-up-and-go convenience
• Strong resale demand

Sectional title schemes now account for more than half of South Africa’s residential properties because of their affordability and value-for-money proposition.

Kriek says these properties are often easier to resell later when buyers upgrade or their lifestyles change. Location also remains critical. Buyers should focus on areas close to:

• Schools
• Hospitals
• Retail amenities
• Public transport
• Employment hubs

At the same time, remote and hybrid work trends are creating new opportunities in smaller towns, peri-urban areas and lifestyle regions where affordability remains significantly stronger than in major metros.

Can your property help pay for itself?

‍A growing number of buyers are also thinking strategically about income-generating potential. Features such as:

• A granny flat
• A rentable spare room
• Airbnb potential
• Work-from-home flexibility

This can help offset monthly repayments and improve affordability significantly. The smartest buyers increasingly view property not only as a place to live, but as an income-producing asset over time.

The rewards of due diligence

‍For many aspiring homeowners, the biggest obstacle is often fear rather than affordability itself.

Kriek believes buyers are often surprised by what becomes achievable once they properly understand the numbers, improve their financial planning and explore all available options.

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“As long as you are willing to do your homework, you might be surprised at what is possible and how soon you can have what you want,” he says.

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Opportunities abound

‍The journey to first-time homeownership is rarely easy, especially in a tougher economic environment.

But the South African property market is still creating opportunities for disciplined, informed buyers willing to think long term.

The rise of female homeowners, growing demand for affordable housing and the continued appeal of property as a wealth-building asset are reshaping the market.

And while uncertainty may dominate headlines, for many first-time buyers the biggest risk may ultimately be waiting too long to get started.

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