Real estate business in Africa is changing and it has everything to do with women. They are no longer sitting at the same old places or just being faces in the crowd. They are taking over the world.
More African women are beginning to appreciate the virtues of generational wealth creation through real estate investing for their future and that of their kid’s future. Young women are putting marriages and having children on hold to focus on wealth creation. We have more women that are graduating with bachelor’s degrees, MBAs, and doctorate degrees than men. This is leading to more lucrative careers hence more money coming in for them.
According to Forbes, “single women have been investing in real estate at more than twice the rate of single men and thus showing no signs of this trend slowing down.” Single women account for the second largest demographic of home owners followed by married couples.
A few years ago, when I got my first job in my early twenties, my goal was to invest in something that would bring me some extra income and still appreciate in value. Later on, maybe dispose it off at a good price. I settled on buying a commercial land and I remember my old man telling me that I was too young for that, that I was going to scare away and intimidate potential male suitors ha!
Women want independence even though they’re not married yet, they want to have their own place and own properties of their own. They want to live the life they’ve always dreamt of as young girls. Purchasing that commercial land in my early twenties was one of my proudest accomplishments. I felt incredibly empowered by the decision. I made it my mission to stay informed on all matters of real estate, bringing forth control of my equity.
Having something to call my own gave me so much comfort. I think most young African women can relate with my desire to have something to call your own while still single and young.
As African women we grew up seeing our mothers and grandmothers fully depending on their male counterparts for everything. Thanks to education and empowerment programs more women are now opening up to the idea of investments.
Women are no longer awaiting men to pursue this lucrative business. They are attending real estate meetings, conferences at their local towns, partnering with each other through self-help groups in order to fulfill their real estate pursuits.
As a real estate investor, I have encountered many young people mostly women that are eager to start investing in real estate as a means to earn passive income or supplement retirement income.
This brings us to the below question:
Why are African women venturing into Real estate business?
Back in the day women were homemakers while men were providers. We are glad to report that there has been a remarkable change. Women still play a central role in their homes while balancing their careers, businesses and even running a company! The fact that women are keen on the details has made it easier for them to turn that into a professional perspective.
Real estate helps in creation of wealth. Worrying about our children’s future is second nature. You need to make sure you have enough not just liquid asset but also invest in properties. Real estate business generates more wealth consistently that any other business and this can be passed down to our kids.
Real estate brings forth the issue of inheritance which is still a very delicate and sensitive matter. Marriage is not just a union between a man and woman but rather links two families together. The family plays a big role on mattes of inheritance. In the case the husband dies, it’s the whole family that is affected and not just the wife and kids that inherits him.
The whole process can be draining, emotional and physical. Most women invest in real estate so that in case of such uncertainties, their future and that of their kids is secure.
They have a place to call home that is legally theirs. No one wants to be dealing with harsh times especially when you’re grieving. We all know African relatives can be extra dramatic during such times.
Property security always gets the lead in the real estate business. Most African women are stuck in toxic marriages, enduring physical, verbal and mental abuse from their spouses. They’re afraid to leave because they want the best for their kids and they can’t provide them with that owing to the fact that they lack material resources such as having a job or any other source of income.
It’s always wise to have a backup plan in case a marriage fails to work out. Having to leave a marriage is a difficult decision to make for most women. But knowing that you’re well equipped in terms of finances and assets to handle whatever comes your way and being able to support yourself and the kids, comes with a great deal of peace of mind.
Author: Susan Rono
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