Why home ownership is still important
In recent years, millennials have continually tried to find new ways to live their life without any hassle. Most of them opted for rentals instead of owning a place, and they tend to continue living like that. And while it doesn't seem to matter today, Generation Rent will be the only generation not to experience wealth created through property ownership. It offers you stability, a sense of wellbeing and you know that you have a place where you can retire and call it your own.
Is home ownership important in Australia? Yes, there are many cities like Melbourne and suburbs like Werribee, Cranbourne, Craigieburn, Doreen, Point Cook, Rockbank and many others that continually provide you with a great set of home purchase opportunities.
When you purchase a property in Melbourne, you quit renting and you gain an asset in the world’s most-liveable city (according to The Economist Intelligence Unit's 2016 Global Liveability Index, which assesses living conditions in 140 cities globally—has awarded us the top city for the sixth year running). The Melbourne region is both an enjoyable place to reside with perfect scores in Healthcare, Education and Infrastructure, but in addition, your your money is also placed well here.
Affordability for first homebuyers in Sydney is getting more and more difficult; so in comparison, it’s a very good time to get your home in Melbourne, especially in the suburbs listed above. With Homebuyers Centre’s Low Deposit Options (starting from $3,000* – see if you qualify!) you do have the opportunity to enter the property market.
When you purchase a property, you make an investment. You have something that you can on-sell at a later time (and yes, you could invest in a new car today and sell it in a couple of years – but you’re likely to lose 25% of the money you spent), in comparison, we see homeowners grow equity in their property (check out some median property pricing statistics from realestate.com.au below). It’s up to you!
There’s also the pride of ownership. That you have a roof over your head that is your own, a sense of achievement that will boost your life. Then there’s also a sense of privacy as well. You will not have to worry about the landlord or agent coming out of nowhere and checking on you. Instead, you are the owner, and you can do whatever you want in your home. You can make changes; you can get new furniture, paint, nail pictures to the wall and make it your own.
Plus, you have the ability to build equity. It’s just a much better way to live, and the results you can get here are second to none. Homebuyers Centre has built over 30,000 homes for Australians in the past 25 years, and in that time have seen our customers achieve some great results in the property market.
Should you consider owning a home?
Absolutely, this can help you change your life towards the better.
There are lots of great home ownership opportunities in Australia; you just need to make the most out of them as soon as you can. A little bit of work is required, yes, you need to impress the banks and get that loan but in the end, it’s worth it. And Homebuyers Centre are here to help!
You will have a place to call your own; you never have to worry about renting for the rest of your life. When you think about retirement, think about paying off your mortgage and your only expenses are living expenses (no more money in your landlord's pocket!)
So, if you do want to make a great change to your life, invest in your home. It will be a great experience and one that will provide you with incredible value long term.
Don’t hesitate and give it a shot right away, you will be very impressed with the results!
Published February 2017.
* Lender terms and conditions apply including FHOG eligibility. All finance services provided by Resolve Finance, Australian Credit Licence No. 385487.
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