Own­er­ship at long last

Young home­buy­ers say the re­spon­si­bil­ity and weight of a mort­gage is a heavy bur­den, writes Char­lotte Du­rut

The Courier-Mail - Property - - REALESTATE NEWS -

OWN­ING a home is still a top fi­nan­cial pri­or­ity for Aus­tralians but the emo­tional stresses of house hunt­ing can be over­whelm­ing, es­pe­cially for first-home buy­ers.

For th­ese peo­ple, know­ing who to turn to is par­tic­u­larly dif­fi­cult, with a West­pac home own­er­ship re­port re­veal­ing 30 per cent didn’t know who to go to for ad­vice.

This was even though 91 per cent agreed ob­tain­ing the right ad­vice and guidance prior to buy­ing was crit­i­cal.

Steve John­son, 24, who moved into his first home at Up­per Coomera three weeks ago with part­ner Elly Zaro, 23, said his big­gest stress when buy­ing was the emo­tional weight of the mort­gage.

“Ev­ery­one told me it was worth­while (to buy a home) but it felt like such a big re­spon­si­bil­ity, be­ing locked into some­thing for such a long time,” Mr John­son said.

“And it’s so daunt­ing when it’s your first home be­cause you don’t want to make a mis­take.”

Mr John­son also found sub­mit­ting of­fers on houses was in­tim­i­dat­ing.

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