With the rise in Sydney property prices over the past couple of years, we are naturally seeing a decline in the number of first home buyers approaching us to see what they can afford. This is in spite of record low interest rates, which makes borrowing conditions pretty good and the Government’s new incentives to help first home buyers.
The most common things we hear are:
• “Sydney property prices are too high”
• “Saving a deposit is now too hard”
• “It is too difficult to understand it all”
Most of you reading this are already property owners, but many of you have adult aged children or family/colleagues that have become hesitant. Let them know that property is still attainable.
5 Reasons property is still attainable:
Expand your geography and consider investing
By all means, continue renting where you want to live BUT there are growth opportunities outside of Sydney, which includes regional NSW and other capital cities, especially in QLD and the Hunter. Talk to us about this, we are happy to show you some recent forecasting.
Buy what you can afford
Many people we talk to feel that they need to spend $700k+ on a property. It is easy to think this way if you live in Sydney and read through the auction results. But, in reality, there are many buying opportunities in the $400k-$600k range, which suits many of our clients.
Lifestyle is front and centre
Owning a property does not mean sacrificing your lifestyle. We can show you how owning your first property can fit well within your monthly budget.
It will always serve you well if you can show a lender a strong savings pattern, especially in the 6+ months leading up to the purchase of your first property. Let us know if you would like assistance in tracking your monthly budget, we can do this.
Build a team that supports you
This should include industry professionals like us, solicitors, accountants, etc and also some of your close confidantes (eg, family, friends and colleagues).
Connect sooner rather than later …
We find that the earlier we are involved in your decision cycle, the greater preparation and assistance we can provide for you to make the step into property ownership. Call us on 1800 004 663 or contact us to speak to an expert team member today.