I often hear people say, “house prices are ridiculous” or “how am I ever going to afford a house”. It’s also all over the news that despite the slowdown, first home buyers are still finding it tough, especially in places like Melbourne and Sydney.
But get this, your first home doesn’t need to be your dream home! Your first home can be a stepping stone in a rising river, with your dream home on the other side. You may not be able to afford your dream home right now, but you can take steps to eventually get there.
In Australia, there are thousands of suburbs, thousands of markets and markets within markets. Each at different stages in the ‘property cycle’. It’s important that your first purchase, whether to live or invest in, is affordable and has all the fundamentals that will allow the property to continue to grow in value.
In later years, when enough equity has built up in your property, you can then look at upgrading to the home of your dreams.
“Remember to dream big, think long-term and take baby steps. That is the key to long-term success” – Robert Kiyosaki.
For further guidance with your first home purchase contact Your Future First on 03 9362 1458 or email andy@yourfuturefirst.com.au