{"id":20519,"date":"2018-03-22T01:00:48","date_gmt":"2018-03-21T14:00:48","guid":{"rendered":"https:\/\/www.realestatetalk.com.au\/?p=20519"},"modified":"2018-03-22T01:00:48","modified_gmt":"2018-03-21T14:00:48","slug":"how-does-a-23-year-old-get-into-the-property-market","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/how-does-a-23-year-old-get-into-the-property-market\/","title":{"rendered":"How does a 23 year old get into the property market?"},"content":{"rendered":"

If you believed all of the media headlines, young people across the whole of Australia will never own property.
\nAccording to media reports,\u00a0housing affordability<\/a>\u00a0is the worst it\u2019s ever been, so us \u201cyoungsters\u201d should just give up and stay living at mum and dad\u2019s \u2013 forever.
\nSorry, dad.<\/p>\n

Australia isn\u2019t one market<\/h3>\n

\"Australia
\nEven though I live in Melbourne, which has been highlighted as a city that\u2019s unaffordable\u00a0for first-home buyers<\/a>, I know that there are plenty of options out for me here.
\nYou see, Melbourne isn\u2019t one property market.
\nIt has more affordable suburbs as well as the increasingly popular option of buying an established unit as your first property.
\nPlus, as I\u2019ve written about\u00a0before<\/a>, more first-home buyers are actually first-home investors and are opting to stay renting while investing elsewhere.
\nIt seems that some commentators, annoyed that they can\u2019t afford to buy a beachfront unit in Bondi or a trendy terrace in Fitzroy, are proclaiming that \u201cthe market\u201d is impossible for them.
\nI don\u2019t know about your family, but the home that my parents now live in isn\u2019t the first one they ever bought, and it certainly didn\u2019t have all the bells and whistles and a brand new car in the driveway. No, my parents, and before them my grandparents, had to work hard to get a deposit to buy a home that they could afford.
\nYes, they had to work their way up to it \u2013 just like generations of people before them. And guess what? Nothing has changed, disciplined young people are getting into the property market every day.<\/p>\n

Borderless investing<\/h3>\n

\"propertyAnother option for young people is to recognise that while Sydney, and parts of Melbourne, have high house prices, there are plenty of other locations that do not.
\nGreater Brisbane\u2019s median dwelling price is less than $500,000 with units more affordable still, according to CoreLogic.
\nAdelaide\u2019s median dwelling price is $440,000 and Hobart\u2019s is sitting at $396,000 (but rising).
\nThe argument about these other capital cities from would-be property buyers is that \u201cWell, I don\u2019t want to shift to Brisbane or Hobart. Get real!\u201d
\nOf course, you don\u2019t have to move to them. And I\u2019m definitely not recommending that you invest in them. No, that takes careful consideration and the right advice, my point merely is that there are options.
\nThe plethora of information online, as well as experts like buyers\u2019 agents, means that borderless investing is a viable strategy.
\nBut you must know what you\u2019re doing.
\nYou don\u2019t just want to pick a property that seems \u201cOK\u201d online and then simply buy it sight unseen without any assistance whatsoever.
\nA smarter way would be to engage the expertise of local agents, or better still a professional buyers\u2019 advocate, or agent as they are known, who can advise you and help you\u00a0buy a property that suits your budget<\/a>\u00a0as well as your property goals.
\nOver the past 15 years in particular, property investing has become more professional, which means there are more experts out there who can help turn your property dreams into a reality.<\/p>\n

And don\u2019t forget the \u201cBank of Mum & Dad\u201d<\/h3>\n

Yes, that\u2019s right, the \u201cBank of Mum & Dad\u201d. This is becoming one of the most popular banks in Australia, in fact, some forecasters are saying that this may soon become our 5th<\/sup>\u00a0biggest bank!
\nWhat I mean is that there are now many baby boomers and young Gen X\u2019s sitting on considerable equity that can\u00a0assist their children with a guarantee<\/a>\u00a0that effectively gifts them the deposit and allows entry sooner to the market. This is a great way to get young people an entry into the property market.<\/p>\n

So, what am I saying?<\/h3>\n

The point I\u2019m trying to make is that instead of throwing up your hands up in defeat, you should think outside the square. There are options for you and this is where I can help!
\nAnd at the end of the day, have the mindset that believes that you are a young investor who can, not one who thinks they can\u2019t.
\nOriginally published on :\u00a0https:\/\/intuitivefinance.com.au\/23-year-old-get-into-the-property-market\/<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

If you believed all of the media headlines, young people across the whole of Australia will never own property. According to media reports,\u00a0housing affordability\u00a0is the worst it\u2019s ever been, so us \u201cyoungsters\u201d should just give up and stay living at mum and dad\u2019s \u2013 forever….<\/p>\n","protected":false},"author":176692471,"featured_media":20523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,13,25],"tags":[70],"class_list":["post-20519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-andrew-mirams","category-latest-story","category-sponsored-channels","tag-featured"],"yoast_head":"\nHow does a 23 year old get into the property market? - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/how-does-a-23-year-old-get-into-the-property-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How does a 23 year old get into the property market? - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"If you believed all of the media headlines, young people across the whole of Australia will never own property. 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