Buying Your First Home in Your 20s 

If buying your first home in your 20s is on your to-do list, the following practical strategies will help you get there with no lectures about brunch in sight. Despite changes in the market, home ownership continues to be one of the best investments you can make both personally and financially. Here’s the best advice from our G.J. Gardner Homes team of industry experts to get on the property ladder before you’re 30.

Our Guide to Buying your First Home 

The price of property

Let’s face it: housing is much more expensive than it was in your parents’ generation, especially in property hot spots like Sydney and Melbourne. Housing affordability is always fluctuating, and we recommend staying engaged with the market to follow trends and stay informed. When it comes to G.J. Gardner Homes, our pricing is offered through a fixed scheme which lets you gain a comprehensive understanding of the costs involved and take the unknown out of property pricing. While we can’t predict the future of property prices, we can offer a few clever tips to help you buy your first home.

Steps to Buying your First Home 

Following three overarching strategies will help you become a property owner:

1) Be dedicated, focused, and a little optimistic

• Plan for the future with a dash of optimism. Don’t focus on house prices so much that you give up before you get started.
• It doesn’t matter if you’re on an entry-level salary just out of school, or in your late 20s with no savings history. It pays off to make changes and start saving today, but requires a shift in mindset and behaviour.
• If you’re truly passionate about owning your own home, it’s your focus and determination that sees you through. Focus on what you’ll gain in the end, not what you’re sacrificing to get there.

2) Make savvy financial choices

• Open a high-interest savings account and transfer a consistent amount before you pay for bills and groceries. This way, you won’t be tempted to touch your savings.
• Pay off any credit card debt as quickly as possible. Not only will this help your credit ranking, it means your income isn’t being wasted on high interest rates.
• Check your eligibility for the First Home Owners Grant, which is generally geared towards those building a new home.

3) Be prepared to compromise

• Don’t be scared to share: getting a flatmate will cut down your rental, electricity and water costs.
• Critically assess everything you buy and where you purchase from. Consider a cheaper supermarket, home brand alternatives, and a bank account with fewer fees or more rewards.
• Decide what you’re willing to sacrifice. You might not be prepared to give up three coffees a week but would happily forego Netflix. Choose compromises you know you can stick to.

Buying your First Home Tips 

If you’re ready to start your first home buyer journey, building a new home is a surprisingly affordable option. With savings on building and pest inspections, you won’t face the unexpected repair costs after purchasing. At G.J. Gardner Homes, we can help you build a lower-cost home – before the big 3-0.

Reach out to our friendly G.J. Gardner Homes team today to learn more about buying for first home and receive tailored tips to your location and goals.

Read our First Home Owners Grant Information now

• Queensland
• New South Wales
• Victoria
• South Australia
• Western Australia
• ACT
• Tasmania