Choosing a conveyancer can be a difficult task especially when you just want to secure your new home; often the biggest decision you’ve ever made. Along with moving house, there may be many other things that you need to be thinking about: enrolling kids in a new school, talking to removal companies, asking your friends for help and simply packing box after box may just be a few things on your mind.
Are you relying on an inheritance to buy your first home?
A recent survey has found that people relying on and using an inheritance to buy their first homes has increased. As the property market continues to increase, making buying a home unaffordable for younger generations, it’s unsurprising that young people are waiting for a parent to pass away before buying their first home. In the survey, around 26% of people aged 16-35 (Generation Y) said they are relying on their parent’s assets. This is a big increase on previous generations: Generation X was 16% and for the Baby Boomers it was only 8%.
How hard is it to sell an older home?
Today we hear about showcase homes, brand new homes or project homes as being the most desirable. But this is not the reality for most people. First home buyers, young families and even older people are looking to buy an older home for reasons for affordability and taste. Investors may also be looking for an older home to renovate or to rent out. So if you are the owner of an older home and you want to sell, don’t despair. It’s all about how you approach the sale to make your older home look as beautiful as possible.
Buying a property is an exciting prospect, but it can also be frustrating when you’re faced with conveyancing delays.
If you’re thinking of buying your first house, you may be forgiven for being a little resentful of older generations who have paid off their mortgage and enjoyed high capital growth in their properties. It’s not uncommon for Millennials to resent the fact that for Baby Boomers, home ownership was so much easier.
It’s an age-old question that’s become more relevant as house prices across the east coast of Australia continue to rise: is buying a house better than renting?
What makes more economic sense? Does buying a house make you financially better off?