Explore All Your Property Options
Before you declare that you can’t afford to buy a home, have you explored all of your property options?
The real estate market is a diverse environment and there are a variety of different dwelling types to consider.
In addition there are a diverse range of home loan finance options available to first home buyers, not to mention government assistance for eligible buyers.
For instance, why not challenge the common assumption that buying a home means buying a detached house and investigate units, apartments or townhouses?
These are often more affordable than houses on detached sections, yet can offer many of the same benefits.
Indeed, with many attached housing options located in inner city areas or close to public transport routes, they can be an excellent first home for young professionals or families.
You get all the same perks of building your equity in a sizeable asset, as well as the satisfaction of owning your own place - but at a more achievable price.
After a few years you might then be in a better position to move on to a detached house of your own - the next step up the property ladder!
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.