Buying your first home is hard. Particularly with prices going up faster than we can save! Data from leading property researchers, CoreLogic, have shown that property values have seen their fastest pace of annual growth in the past year since February 2004. If you’re not a property owner yet, this stat is pretty scary.
So the answer is to find a way to make it happen!
There are options! Some of those are:
- First Home Super Saver Scheme – that allows you to save your deposit through your super fund – which has great tax advantages.
- First Home Owner Grant – available on new homes only
- Stamp duty concessions that vary state by state
- Rentvesting – buying a cheaper investment property and continuing to rent a home to live in.
- Combining efforts – buying with a friend or relative.
- “Bank of mum and dad” – (or favourite aunty/uncle/etc) – getting financial assistance or bank guarantee from a relative.
If you or someone you know is struggling to buy their first home, please pass on my details. I’m so passionate about empowering people to get on the property ladder and I’m happy to talk through options and help them come up with a realistic plan to make it a reality.
Home ownership doesn’t have to remain an unattainable dream. There’s no time like now and property will not get cheaper.
If there’s a way to make it happen, I will find it! I’m just a message away.