{"id":6787,"date":"2017-10-26T22:43:31","date_gmt":"2017-10-26T22:43:31","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/teen-buyers-top-tips-for-younger-australians\/"},"modified":"2017-10-26T22:43:31","modified_gmt":"2017-10-26T22:43:31","slug":"teen-buyers-top-tips-for-younger-australians","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/teen-buyers-top-tips-for-younger-australians\/","title":{"rendered":"Teen buyer\u2019s top tips for younger Australians"},"content":{"rendered":"

<\/p>\n

\n

To many young buyers, getting a foot on the property ladder can seem quite challenging.\u00a0<\/strong><\/p>\n

Rising house\u00a0prices and juggling study commitments with saving, can make owning a home seem near impossible.<\/p>\n

Over the past 18 months, house prices have grown by a staggering 19.5% in Sydney, 15.6% in Melbourne, 4.3% in Brisbane and 3.5% in Adelaide, data from CoreLogic shows.<\/p>\n

But despite the current climate, 19-year-old first home buyer Louka Bogiatzis said that with a little hard work and foresight, investing young can\u00a0definitely\u00a0be done.\u00a0<\/span><\/p>\n

\"QLD<\/p>\n

Louka Bogiatzis is 19-years-old and is already a home owner. Picture: Nigel Hallett<\/p>\n<\/div>\n

The teen buyer recently purchased his first property in Coomera, QLD, after saving for a deposit during high school.<\/p>\n

\u201cI had to give up my school holidays working (in) labouring. During school, I had to give up two days a week and I would go and work at a sales agency,\u201d he said.<\/p>\n

While one-third of new homebuyers rely on the \u2018bank of mum and dad\u2019\u00a0for their deposit, the teen\u00a0says that because of his forward planning, it was mostly his own hard earned cash that went towards the deposit.<\/p>\n

He managed to put $10,000-$15,000 aside per year to put towards his first home.<\/p>\n

\u201cI\u2019ve been working after school and saved about $80,000 and my parents did help me through it,\u201d he said.<\/p>\n

Here are some of his top tips for young Aussies looking to buy their first property.<\/p>\n

1. Take advantage of government incentives<\/h2>\n
\"\"<\/p>\n

Bogiatzis used the first home owners grant towards his deposit.<\/p>\n<\/div>\n

Young buyers should take advantage of the first home owners grant, says Bogiatzis.<\/p>\n

The amounts offered to first-time buyers range from\u00a0$10,000-$20,000, depending on the state and the type of property purchased.<\/p>\n

\u201cThe first home owners\u2019 grant was very, very helpful. I put that straight towards my deposit for my house,\u201d\u00a0Bogiatzis said.<\/p>\n

First-home buyers in\u00a0Victoria and New South Wales may also be able to take advantage of stamp duty discounts.<\/p>\n

2. Research the location<\/h2>\n
\"\"<\/p>\n

The teen\u2019s home is close to a Westfield. Picture: Kylie McLaughlin<\/p>\n<\/div>\n

Bogiatzis insisted that location was one of the main factors he considered when looking to buy.<\/p>\n

Look to invest in suburbs that have the potential to be a boom area later down the track.<\/p>\n

\u201cThe main reason why I purchased in this estate is because of its location. It is close to the train station, Westfield and there\u2019s a school across the road,\u201d he said.<\/p>\n

He hopes that the development of the new Westfield will mean an increase in demand and ultimately an increase in value in the future.<\/p>\n

3. Use your spare time wisely<\/h2>\n
\"\"<\/p>\n

Bogiatzis<\/span> suggested forgoing those days at the beach and to start working and saving. Picture: Getty<\/p>\n<\/div>\n

Finding that balance between working\u00a0and saving for a property while attending school or university can be a struggle.<\/p>\n

But Bogiatzis\u00a0<\/span>said that giving up holidays and working on days off is crucial.<\/p>\n

\u201cJust work hard, give up your school holidays, because it will always pay off in the future,\u201d he said.<\/p>\n

4. Plan ahead<\/h2>\n

The teen said younger buyers need to think about what age they\u2019d like to be when they buy their first property and to set savings goals in advance.<\/p>\n

\u201cThink ahead to the future when you\u2019re younger and try and work out your career path because that will really help you in the long run,\u201d he said.<\/p>\n

5. Get the right advice<\/h2>\n
\"\"<\/p>\n

Don\u2019t be afraid to ask for advice. Picture: Kate Griffen<\/p>\n<\/div>\n

While Bogiatzis<\/span> didn\u2019t rely solely on his parents for a deposit he said that they were still a massive support when it came to buying a property.<\/p>\n

\u201cI was lucky because my parents work in property, so they mainly helped by giving me advice and helping me find jobs,\u201d he said.<\/p>\n

Ask as many questions as you can and seek advice from experienced buyers\u00a0\u2013<\/span> whether that be\u00a0parents, relatives, older friends or even professionals.<\/p>\n

\n <\/p><\/div>\n

Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

To many young buyers, getting a foot on the property ladder can seem quite challenging.\u00a0 Rising … Teen buyer\u2019s top tips for younger Australians<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6788,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,15239,1399,12908,543,617,3058,258,1007,41,818,15282],"class_list":["post-6787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-chase","tag-development","tag-home","tag-home-buying-guide","tag-house","tag-location","tag-new-home","tag-owners","tag-property","tag-real","tag-ross"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/capi_a040d7f7e68aadcfaaa9d9c21139810e_b07f03a325e17f0145a8019c86020160.jpeg?fit=1023%2C576&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":8506,"url":"https:\/\/amazingproperty.com.ng\/blog\/phenomenal-demand-on-surrey-condos-for-sale-the-surrey-bc-real-estate-market\/","url_meta":{"origin":6787,"position":0},"title":"Phenomenal Demand on Surrey Condos For Sale – The Surrey BC Real Estate Market","author":"Amazing Property","date":"April 14, 2018","format":false,"excerpt":"A hot favourite in the Canadian real estate market growth predictions for the last few years, Surrey BC seems to be on track in terms of the growth and demand for its real estate, even in the first four months of 2018. 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