GET­TING ON THE LAD­DER

The Courier-Mail - Property - - REALESTATE - MICHELLE HELE

GET­TING into the prop­erty mar­ket is not as im­pos­si­ble as some peo­ple think, the ex­perts reckon you just have to be pre­pared to work re­ally hard.

Buy­ers agent Chris Gray of Your Em­pire said young peo­ple should do what­ever it takes to get into the mar­ket to­day and if that means tak­ing a sec­ond job – do it.

“Don’t wait un­til to­mor­row, as to­mor­row never comes. You’re never go­ing to get a per­fect mar­ket of high growth, high rent, low in­ter­est rates, easy to buy and easy to bor­row from the bank,” Mr Gray said.

“Get a sec­ond, third, fourth job if you need to, as a short-term sac­ri­fice will pay you div­i­dends in the fu­ture.’’

He also ad­vised buy­ers to check out at least 100 prop­er­ties be­fore buy­ing.

“Look at lit­er­ally 100 prop­er­ties be­fore you buy as oth­er­wise you’re not go­ing to be ed­u­cated enough into what the dif­fer­ences are be­tween dif­fer­ent prop­er­ties and they’re cor­re­spond­ing val­ues,’’ he said.

Prop­erty in­vestor Nathan Birch, 31, who has just bought his 200th prop­erty, said you didn’t need to rely on fam­ily to get ahead in real es­tate, you just had to work hard.

He gave up go­ing to par­ties, nice clothes and other lux­u­ries to get enough money to­gether for a de­posit.

“I thought if I can sac­ri­fice 10 years of mym life I will be able to do what I wa want when I want. I started off work­ing two full­time jobs – 20 hours a day, sev seven days a week,’’ he said.

Charles Tar­bey, chair­man of C Cen­tury 21 Aus­trala­sia, be­lieved y young buy­ers needed to lower their e ex­pec­ta­tions in re­gards to the ar­eas th they want to buy in.

And John Sy­mond, chair­man of Au Aussie Home Loans, ad­vised peo­ple to wo work out how much you can af­ford to spe spend be­fore you even look, and only loo look at homes within your price range.

“Look at as many prop­er­ties as pos pos­si­ble in your price range to get an idea of what you can af­ford,” he said.

And John Flavell, chief of Mort­gage Choice, said it was vi­tal to build a good de­posit.

“Start a good sav­ings pat­tern as early as pos­si­ble. Try sav­ing 10 per cent or more of your reg­u­lar in­come,” he said.

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