Saving for a deposit for your first home requires discipline and can be hard work, especially when the market dynamics are influenced by interest rate movements or growing values in your target suburbs.
But don't let frustration signal the end of the road for your ownership ambitions.
As an experienced agency, we believe you can modify your strategy to ensure you can climb onto the property ladder.
There are two common paths to take. You can head for a regional centre to build a life, find employment, make new friends and finally own your own home. It's a big decision, but many young people do it and never look back.
The second alternative doesn't require a significant upheaval – you can become a “rentvestor”, where you purchase the home you can afford and rent it out. You then rent where you want to live while reaping the benefits of being a landlord and property owner.
It can be a great approach for young couples and families who are not ready to quit the bright lights yet remain laser-focused on owning real estate.
Dream Catchers Lending is an MFAA-accredited member. Feel free to book an obligation-free virtual appointment or leave us your details and we'll be in touch.
Photo by treety