Now’s the Time for First Home Buyers to Make Their Mark05 February 2019
Be like Nike and Just Do It. You’ve thought about it extensively for years. You’ve saved up the money. You’re ready to make your move. But, Like many other potential first home buyers out there, you’re worried. Worried about the state of the market, affordability, location and most importantly… timing. Is now the right time to enter the housing market in Sydney? To cut right to it, the answer is yes. Now is the time. If not now when? There is never going to be a perfect time to buy, but right now is as close to it as it’s possibly ever going to get for first home buyers. Let’s explore why.
Due to the up and down nature of the current market in NSW the state government is putting their weight behind the first home buyer, encouraging them to enter the property market by making it far easier to do so than ever before. The Australian Bureau of Statistics revealed that housing finance approvals in NSW for first home buyers have risen by 74%, the highest by state in Australia.
Today one in four home buyers are first home buyers, something that has been accredited to strict rules being placed on foreign investments and growing stamp duty exemptions. With the government making leniencies as a means to encourage people to enter the housing market to help counteract the current down turn in parts of NSW, it would be a smart move to take advantage of these new rules and initiatives while at the same time being strategic in where you choose to build.
Property prices are on the rise in Gledswood Hills, Leppington and Marsden Park making it the ideal location to purchase your first investment property. With many first home buyers hesitant to enter the market due to fear they won’t be able to sell when the time comes to move on to their second home, it’s important to choose a location that clearly demonstrates rising prices and opportunities for growth. Sydney’s Western suburbs are giving first home buyers the best of both worlds.
Kaplan Homes builds extensively throughout Sydney’s West and can help you build your first home with no sneaky surprises or over-inflated promises. They know how scary this time can be and do everything they can to give you the information you need in an easy to understand, clear way. The team at Kaplan know the market and can give the best value for money as well as peace of mind when you need it most.