Tamara enjoys assisting others, specifically women, become financially independent and helps clients make informed and educated property investment decisions.
The Australian Bureau of Statistics suggests that, overall, 60 per cent of Australian women own property (either with a mortgage or debt-free) compared with 56 per cent of men. So, despite the pay gap, what is it about female personality traits that put women ahead in the property game? Let’s take a look.
1. Calculated risks
When it comes to money, women tend to be more conservative than men, by nature. This is, in no small measure, much of the reason why research suggests women make better investors. For the most part, men tend to have a shorter term view and less patience, which can lead to taking unnecessary risks.
When faced with risk or the unfamiliar, women are more likely to put time and effort into studying an investment in a very practical way. On the other hand, it’s common for men to approach risk as more of a game to win, therefore beating benchmarks becomes more important than evaluating long term gain.
From grocery shopping lists to savings for an investment property, women tend to approach budgeting with more discipline.
While women may have the notorious reputation of spending up big on shopping sprees, men often make more expensive purchases while gathering debt that can kill the budget. For many women, the need for security, saving for a rainy day and running a household leads to thrifty budgeting.
Therefore, from grocery shopping lists to savings for an investment property, women tend to approach budgeting with more discipline. This is especially true with a long term goal in sight, with advanced planning to reach it rather than veering off track towards risk along the way.
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3. Seeking help and following through
Money has long been a taboo subject for women, often due to a lower level of confidence in the ability to understand finances. However, because of this women are much more likely than men to seek information and advice from professionals, therefore ensuring sound decisions.
Once the decisions are made, women like to nurture investments and tend to put a great deal of focus and passion into property ownership. This attention may be directed towards becoming a successful landlord or setting up a secure home now and into the future.
Either way, these traits go a long way towards proving the mounting evidence that women outpace men in the property ownership stakes.