You can build your first home in 2021

Let’s face it, millennials are tired of hearing how their ‘avo on toast’ is the reason they aren’t saving that precious dough to find their way in their first home. As a millennial, it has become easy to fall into the trap of self-belief that “homeownership is impossible”. But let’s bust this myth! Many young Australian’s are finding their way into the property market through building their first home.

With travel restrictions limiting our overseas travel for the foreseeable future, it is created the perfect opportunity to ‘splash our cash’ elsewhere. Instead of saving your pennies waiting to jet-set around the world, you may choose to own your own little slice of paradise right here at home! Interest rates are at all-time lows, producing ideal borrowing conditions. Federal and State governments incentives for First Home Builders are getting eager First Home Buyers into the property market sooner!

Our top tips for getting yourself ready to tackle homeownership in 2021:


You have paid your rent, bills and groceries… now what? It’s time to think about your major expenses outside the necessities. Identify where you could cut back on your weekly spending.  Could you choose a home workout over a gym membership? Or could you switch from a take-away coffee, to a home coffee? Avoid using food delivery apps, ‘shop-now, pay later’ apps and gambling apps. Reviewing your disposable income choices will free up some more budget to put towards your deposit! Remember, life doesn’t have to be all ‘tuna and rice’!


Sit down and review where your income has been spent in the last 3-6 months. Plan out the upcoming 3 months on a calendar and stick to your budget! On average it takes 66 days for a new habit to form, so once you get started budgeting – you won’t even notice you’re doing it!


Do your best to get rid of any remaining debt. Lending providers look favourably if you have little or no outstanding debts.


Before you look to build, it’s important to understand what costs are involved in purchasing your first home. Speaking to your mortgage broker may be the first step in understanding construction loans and various insurances involved. Our knowledgeable New Home Sales Consultants are also available to help guide you throughout the process.  So don’t let the idea you can’t do it stop you from making homeownership a reality for you.


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