Ownership at long last
Young homebuyers say the responsibility and weight of a mortgage is a heavy burden, writes Charlotte Durut
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.