Step Up The Property Ladder Sooner

First National Real Estate says first home buyers could be staking out their own patch of turf sooner than they imagined, despite spiraling weekly rents, rising living costs and home prices that have begun gently rising again in parts of the country. 

The first step is to get together a deposit. This can be made easier by starting with simple things like cutting back on luxury habits, cooking more meals at home and taking lunch to work rather than eating out.  Doing that five days a week, will really get the piggy bank started.

Cutting back on other socialising activities so that a night out is enjoyed once a fortnight, instead of weekly or more frequently can also save money. 

With both established homes and greenfield properties in new suburbs on the city fringes becoming out of reach, first home buyers need to start being a bit more strategic in their thinking and look at things in a different light.  They should consider staying at home longer where much lower rents could be paid and parents might even consider saving the rent to help them get their deposit together.

But, the best thing to do is to seek the services of a financial planner and adviser as they have the expertise and knowledge to assist with your financial needs in the way that best suits the income and lifestyle of the individual.

First home buyers are an important segment of the Australian property market and it is incumbent upon governments and the industry to ensure there are affordable housing options for all sectors.