The Best Age to Buy Your First Home
The best age to buy your new home is when you can afford it comfortably, but, sometimes this is an unrealistic answer as there are many varying factors.
As a good example, back in the 1970’s the average age of first home buyers was 25 years, and by 2011 this had increased to 31 years of age. This trend also shows no signs of decreasing, as the ever-increasing land and property prices keep pushing the level of deposit required upwards.
Another report shows that between 2011 and 2015, first home buyers between the ages of 18 – 29 years of age decreased by almost 50%, yet, first homebuyers over the age of 40 increased by 50%, and first home buyers over the age of 50 increased by over 100%.
It is much better to start saving at a younger age so your savings can build up to meet any increase that occurs by the time you are looking for your first home. A secondary benefit to saving much earlier is that you can establish a better credit rating as you get older.
A second alternative can be a much wiser and smarter way of buying your first home while you are younger, and this can be choosing to use the services of First Home Australia. Now, we currently have 1000s of home and land packages and properties for you to choose from, and many of these have super low deposits required.
If you feel you are at an age where you can afford your first home now, you should contact our professionals who can give you advice and see what your best options are for any savings you currently have towards your first home.
First Home Australia Bonuses
It is also worth acting now, even if you are in your younger years. If you can meet all of the requirements for the Government grant of $20,000 towards your first home, it’s really worthwhile. On top of this, if you are eligible First Home Australia, we offer a bonus incentive of $10,000 for clients along with a new Promotion in selected areas, where First Home Australia will pay your rental costs… all while your first home is being constructed!
Buying smarter with First Home Australia is a much better option for you now and any increase in house prices will actually work to your benefit in the coming years.
Call us today!