Single mums reveal struggle of going it alone in today’s insane property market

Aussie single mums have opened up about the “chaos” of juggling parenting, working and searching for a home in today’s sky-high property market. Here’s how they beat the odds.

Juggling co-parenting amid a marriage separation plus looking after pets and maintaining a busy career is challenging enough for any single mum, trying to keep their head above water.

Throw in the stress of searching for a home in today’s soaring property market and you have the recipe for what Adelaide mum Deb White called one of the most “awful” times of her life.

The 53-year-old mum-of-one recently bought a $815,000 home in Millswood, having sifted through the dwindling sub-$1 million property listings to find something fit for her 12-year-old son Archie and their beloved cat and dog to live in.

The business operations manager conceded today’s hot seller’s market worked in her favour when selling the family home for just over $1.4 million in December 2023, having bought in 2017 for $770,000.

But she said the ensuing search with her split of the sale — in the same area in order to be close to her son’s school — proved much harder than her ex’s, who snapped up a place almost instantly.

“It was the most hectic, chaotic time,” Ms White told The Advertiser.

“My husband basically got the first place he looked at, but he doesn’t have the same responsibilities as me so I felt like it was easier for him.

“Archie is with me most of the time, and I have a dog and a cat, so renting was out of the question, not that there are any rentals on the market either.

“It was very chaotic and stressful for my son who was starting high school this year,” she said.

Deb White and her son Archie outside their Millswood home. Picture: Matt Loxton

Ouwens Casserly agent Sharon Gray, who sold Ms White her new home, said the heavier emotional load often carried by women makes house hunting as a single mum all the more difficult.

“In most cases, the mums have got the majority of the custody, so they have to find something big enough,” Ms Gray told The Advertiser.

Ouwens Casserly real estate agent Sharon Gray. Picture: Realestate.com

JP Mortgages director and finance broker James Paterson. Picture: Supplied

“Depending on who has the majority of the custody … Sometimes the dads don’t have to worry about that as much because all they need to find is something good for them and a room for the week they have the child or whatever the arrangement is.”

This, plus “insane” property prices, strata constraints for pets and the fact that in a divorce settlement “you’re only going to have half of what you sell for at the end of the day,” adds to the struggle.

Director and finance broker at JP Mortgages, James Paterson, said he “very rarely” sees single mums searching for homes.

“House prices and current interest rates are the major market factors keeping this group out of the market,” he explained.

“In 2019, if you were purchasing a typical family home in Aldinga, you would be borrowing $350,000 with an interest rate of 3.5 per cent over 30 years. Your repayments were roughly $1,600 per month.

“Now in order to purchase that same property you would need to borrow approximately $600,000 with an interest rate of six per cent over 30 years. Your repayments are now approximately $3,600 per month.

“If a single mum is earning $70,000 per year gross. That is a touch over $4,600 per month after tax, leaving only $1,000 per month to cover everything from school fees, electricity, groceries, insurance, petrol. The list goes on.”

He added that there are grants available for single parents which can be explored during early conversations with brokers.

Financial stress for women has been felt across the country this year, with a new report by Great Southern Bank finding women have been hit harder by rising living costs.

The study of 2000 people found 79 per cent of women were concerned about the cost of living, compared with 68 per cent of men, with experts musing that women’s greater money worries reflected the fact they were typically more aware of fast-rising household costs.

Women worry about rising living costs more than men, new research has found. Picture: iStock

It’s certainly not impossible for single mums to crack the market.

Mum-of-four Emily decided to build in Gawler East this year, costing a total of $650,000.

Her mortgage adviser Tamara Scutcheon said they worked together to “refine her budget” using tips and tricks that have helped other clients.

And Adelaide single mum Sharna Louise got her foot on the property ladder in Salisbury back in 2019.

“I had saved from working a lot before I had kids and a payout from being made redundant,” she shared.

“I only needed a small loan, making my repayments way cheaper than renting.”

Mum-of-two Claire Benji, 46, credits her homeownership success — buying in Plympton last January for $425,000 — to “cancelling everything”.

“I cancelled every streaming service. I had no Afterpay, no credit cards, shopped around and went on the lowest possible internet and phone rate. I also didn’t buy any clothes for 12 months,” she revealed.

“If I was going into the city for something I’d drive into the edge and park my car and jump on the tram so I didn’t have to pay for parking.

“I still went out with friends for dinner, but I’d choose an entree for my main and have water.”

As each single mum who has achieved homeownership will tell you, the compromises are worth it in the end.

For Ms White, finally having the keys handed over felt “amazing”, and knowing she now has something to leave behind for her son one day has provided peace of mind.

“Things are going to be really hard when he’s my age, so that was important to me,” she said.

Adelaide house prices have reached a new high and they’re only climbing higher — up 0.82 per cent for the month of March and 13.05 per cent for the year, to a median value of $723,000.

So how did Ms White do it?

“(Our Goodwood house) doubled in price for us from when we bought it so I’ve been very lucky,” Ms White said.

“But once you pay what’s owing then split it, there’s not a huge amount left, especially when you’re buying in a much more expensive area to keep my son close to his school.”

She added: “For the traditional single mum who’s maybe on minimum wage, and has several kids, that would be very, very tricky. I actually don’t know how they do it.

“I wouldn’t want to be 30 and separating and trying to buy a house.”

Originally published as Single mums reveal struggle of going it alone in today’s insane property market