Securing a first home at today’s prices is a lot harder & tougher than it looks. Nadine Chalmers-Ross shares 6 steps based on the profiles of successful property purchasers.
• Step One: Have rich parents, with both deep pockets & a large house so they can assist with.
• Step Two: Live rent-free or live off the Bank of Mum and Dad, like Jake & Ella who nabbed a first home for $1.4m.
• Step Three: Buy a house in the past, before prices boomed & before the rules changed to 40% deposit.
• Step Four: Find cash for a major The Block-style reno, like Kate & James.
• Step Five: Move to the middle of nowhere, like Sarah & Nigel who moved to Middlemarch.
• Step Six: consider whether food is a necessity, like Ashley Verhuel. Why eat when you can save? When you faint, refer back to Step One.
In her case, Nadine was able to save & buy her house by making some sacrifices, working 2 jobs & buying it pre rule-change w/ <20% deposit.
» Stay tuned to the latest property news summaries, sent to your inbox weekly – sign up now!