Lifestyle

First home buyers tighten belts to save for dream purchase

Property in Glen Eden estate, Gladstone.
Property in Glen Eden estate, Gladstone. Tammy Lewis

WOULD you give up a holiday for your first home?

A recent survey by Mortgage Choice found that 83% of first home buyers are prepared to sacrifice aspects of their lifestyle, with 60% willing to miss out on a holiday if it meant getting into the market earlier.

The 2013 Mortgage Choice Future First Home Buyer Survey discovered the majority of first home buyers plan on saving for an average of only one to two years.

From the 1000 Australians surveyed, one in four future first home buyers only plan to save an average of 10% of their monthly income after tax.

Mortgage Choice spokeswoman Jessica Darnbrough said it was surprising to see home buyers weren't saving more.

She said Australians should knuckle down to save a deposit.

"Of course, this doesn't mean that you need to cut out all of life's little luxuries," she said.

"If you put a savings plan in place and set realistic, achievable goals, you should be on your way to home ownership in no time."

According to the findings, 24% of respondents were happy to delay having children and 19.4% said they would move back with parents or in-laws to save rent.

When it came to concerns, 48% of respondents said they were anxious about the length of time it would take to pay off the mortgage.

Gladstone Ray White director John Fieldus said young people took great pride in owning their car and in having home ownership.

"This has been particularly evident in Gladstone where finding rental property has been unstable in recent years," he said.

"Tenants have run the risk of having to move every six months.

"I think home ownership is still very much the great Australian dream, particularly in Gladstone where incomes are higher."

Mr Fieldus said the result of a 10% average of savings for a first home was a consequence of banks loaning 90% plus, on many properties.

"People are keen to take on property ownership and they often find that 10% is the doorway to this."

Topics:  first home buyer gladstone real estate market property real estate



Brisbane's arts and culture events centre stage

A CITY drenched in culture, Brisbane is again flaunting an arts and culture events calendar fit for a queen.

Homewares stores to fulfil your Instagram dreams

No Caption

You too can become an Insta-star with these fab stores.

Date nights under $50

Nothing is more romantic than a picnic with a cracking view.

NOT every date has to cost you a bomb.

Top 10 Brisbane experiences to cross off your bucket list

Do yourself a favour and get amongst the food truck scene. Eat Street is a great place to start.

A GOOD bucket list doesn’t have to span continents or cost millions.

Six mega sporting events you need to be at this year

Don't miss all the action trackside this season.

IF THERE is one thing Brisbane does damn well, it’s play host.

Six reasons to get to Brisbane this Autumn

The Brisbane Powerhouse has free comedy on Friday nights.

AUTUMN has to be up there with one of the best seasons of the year.

The best things to do in Brisbane are FREE. Yes, FREE

Mt Coot-tha is a seriously gorgeous way to start your day.

HEADING to the big smoke doesn’t have to come with a big price tag.

REVEALED: On the scene at Gladstone's drain body tragedy

WHAT TO DO NEXT: Police discuss the situation next a manhole at the scene where a body has been found in a stormwater drain.

An inside look at the stormwater drain body scene.

What police know about grim discovery in Gladstone drain

Gladstone Police are on the scene where a body has been found in a storm water drain.

Guide to what police do and don't know so far.

'Shocking': Stormwater drain tragedy leaves readers disturbed, upset

Gladstone Police are on the scene where a body has been found in a storm water drain.

Readers react to shocking news in Gladstone.

Local Partners

Better phone service for Gladstone's regional towns

Telstra: "This technology is delivering big benefits to these rural and regional communities”


Win a $1000

GROCERY GIFT CARD!
Learn More

What to expect at Birds of Tokyo's Ipswich gig

The band will perform at the Racehorse Hotel on Friday.

BAND member Glen Sarangapany talks music, pub grub and doing shoeys

What public holidays are left in 2017

Ipswich residents will get the day off tomorrow for the show.

IPSWICH residents will get tomorrow off for the show

Caitlyn comes home to launch debut album

Gympie's Caitlyn Shadbolt will launch here debut album Songs On My Sleeve at an exclusive all-ages concert in Gympie on Friday, May 26.

Win tickets to Caitlyn's album launch

Model Bella Hadid's see-through dress shocks in Cannes

JUST WHEN you thought you’d all of Bella Hadid’s supermodel figure — she gets her Cannes out on the red carpet of an AIDS gala dinner in France.

No room for morbid fans

Chris Cornell.

Fans want to stay in the hotel room where Chris Cornell died

Star Wars' 1977 Stormtrooper head banger confesses

A Stormtrooper is responsible for the biggest blunder in a Star Wars movie. Picture: Supplied

Man in most famous blooper in Star Wars history breaks silence

Lyn's knock-out show gets her to next round on The Voice

ONWARDS AND UPWARDS: Lyn Bowtell is through to the battle rounds on The Voice.

'It was bitter sweet to win like that'

Is this the talent you get when you limit electronics?

Cassidy Kilburn in the Get the Beat International Dance Competition.

Cassidy, 11, preparing for national dance championships

Dreamworld may supersize with 'Disneyland expansion'

Dreamworld could become a “more attractive and entertaining park”.

Report reveals progress on $319m airport upgrade

Aerials of the Sunshine Coast.Jetstar plane in front of the Susnhine Coast terminal, Sunshine Coast Airport.

Over two dozen government approvals needed for airport expansion

Lost dough leaves sour taste after company collapse

Kathleen and John Mahoney from Sugar and Spice Bakery were stung after the collapse of Cantro Pty Ltd and are still owed money.

Supermarket operator collapse leaves sour taste for bakery

Open for inspection homes May 25-31

Check out this weekend's homes open for inspection

How Toowoomba house prices compare in Australia

For sale sign in front of home.

Here's what $700,000 will buy you in Toowoomba, Brisbane and Sydney

One of Maryborough's most historic homes is still for sale

FULL OF HISTORY: Trisha Moulds is owner of the historic Tinana state known as Rosehill. The beautiful home is currently for sale.

It has been the scene of both joy and tragedies over the years.

Ready to SELL your property?

Post Your Ad Here!