For many Gen Y’s who are looking to dip their foot in the big ocean that is the residential housing market, it can be a daunting phase. Some people are lucky as they have the financial support of family however; many do not have this luxury at their disposal. As of late, Real Estate has been running hot and has been gaining a lot of media attention which has added fuel to the fire. This has ensured a booming end to 2013 real estate sector and a strong start to 2014.
Over the past couple of years, there has been an influx of overseas investors which has strengthened the market but is pushing the first home owners out of the market. It has always been tough to get that first property under your belt but with added competition with deep pockets, it has made it that much harder.
Buying your first property is not going to be easy. It’s a challenge. It’s a journey. It is something that you have never faced before. Just ensure you have the right support networks in place to assist you in making those decisions. These are different for every situation but just ensure you surround yourself with trustworthy people, the right information and the courage to take the plunge.
Finally, the fundamental network in this phase is the one you have always surrounded yourself with, it’s your family. They have nurtured you through the scrapped knees and broken bones and what’s not to say they wont assist you though this tough stage. It may not be financial help but it may be the little things which help this little fish find its way through the ocean and prosper.