FACT – THE NUMBER OF FIRST-HOME BUYERS IS DWINDLING. When you consider that a home is often the biggest asset the average Australian has when they retire, it is a concern if, for the first time, we’re facing a generation of lifetime renters. Millennial renters could easily spend over $1.25 MILLION ON RENT during their lifetime.
If rent money is empty money, the alternative is investing your money into an appreciating asset. Millennials are either struggling to enter the market because they can’t afford it, or because they aren’t prioritising the task of owning a home.
Whilst it is true that the market is expensive, and growing more so, particularly in white-collar hubs where the jobs are, there may be a negative presumption that it’s not possible for young people to get a foothold in the property anymore. Once you’re on the property ladder, you can start working towards your ultimate home – but for now, just get on the first rung.
So your first action is to start saving today, even if you’re not sure when you’ll buy.
Conveyancing Home Queensland want to help make homeownership possible. Get a free quote now at https://conveyancinghome.com.au/instant-quotes/ or Phone 07 3236 2852 | email – firstname.lastname@example.org |
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