For young couples it’s difficult to get on that property ladder, but then again, hasn’t it always been? I remember when I was buying my first home with my husband, we were 25 and interest rates where at 24%………..yes that’s right 24%. We had to borrow $10,000 off my father and he charged us 24% !! We managed to pay it all back as well as the bank loan by saving and saving hard. We didn’t have flat whites (they weren’t around then) we didn’t have a cell phone…..they weren’t around then either, neither were flat screen TV’s, computers, ipads, ipods or anything starting with “i” for that matter!……none of the” must have’s” that are around today where around in my time and an overseas holiday just wasn’t even a thought!! So to that end, I guess the temptation wasn’t there. We went out to a movie and dinner if it was one of our birthdays or wedding anniversary (a very special treat) For entertainment we had friends around for dinner and played cards. A big part of me feels for the young ones and another part of me says “hold on” what are you actually going without in order to get on the property ladder. I know phones and ipads are a pretty essential part of todays work environment, but the weekend eating out and drinkies must really eat into the young ones budget.
For those of you who are really serious about saving and getting on the property ladder, remember location has always been the number one rule, if you can, always go for the worst house in the best street. Look at the potential of the area and property, can you build up or out when the time comes for your family to expand, how is the community going to grow, how close are schools and parks? Don’t worry if it doesn’t have an ensuite or walk in closet, that can come later.Has it got good bones, when was it last rewired? check the plumbing and roof, most importantly get a building inspection done. Good luck young ones, it can be done.
