HOUSING AFFORDABILITY FOR FIRST HOMEBUYERS

HOUSING AFFORDABILITY FOR FIRST HOMEBUYERS

Lately there has been much said about the supposed high price of homes making buying unaffordable for first homebuyers.

At the risk of sounding like a spoilt baby boomer who had it so easy, I beg to differ.

When my wife and i got married we were fortunate enough to be able to move into our own home straight from our honeymoon.

We built our first home on a modest block in Gosnells.

In order to buy it I had to have a 10% deposit and the cost of the house and land was 5 times my annual income.

Here is where the difference arises.

It consisted of a 120 square metre 3 bed 1 bath house with lounge, dining, kitchen, meals area and a built in robe to the main bedroom.

Now for what it didn’t have.

It lacked floor coverings, window treatments, light fittings, driveway, carport or garage, fencing, landscaping, patios, pergolas, air conditioning, fencing, or anything else.

We endured 2 winters on the concrete raft while we saved for the floor coverings and window treatments.

In the Rockingham district there are plenty of homes including extras available for 5 times a first home buyers income, but they aren’t prepared to accept such a modest start.

There is one other difference.

We had no credit cards.

Ross Cutten

Owner / Director

Noble Real Estate