Nicole Haddow

And then it's just people who are, you know, buying properties that need work and fixing them up and building that equity or buying in an area where nobody wants it at the time and then all of a sudden it's the place where everyone wants to be.

I think it's really hard because I think a lot of young people today would have had parents who were able to buy a freestanding home as their first house.

It's not realistic to think your first home is going to be a double-fronted, renovated Victorian house in a blue-chip suburb.

But it is disappointing to realise that you're probably going to have to reset your expectations.

For me, that was buying an apartment, for starters, and it was buying 25 kilometres out of town, not where I necessarily wanted to live.

But to buy in a high-growth area, that would ideally – the property would go up in value with a reasonable pace and allow me to take my next step over time.

And I think that's what a lot of – although our parents might have bought freestanding homes, a lot of them wouldn't have bought their dream home first up.

Yeah.

it's different today um you're probably not going to get what you thought you were going to get but the sooner you kind of reset that expectation and treat it as a financial opportunity rather than a forever home the sooner you can hopefully build equity and take your next step yeah absolutely and i think probably the one thing is being further out from the city city centers i know for us in melbourne we

everyone that i know wants to be close to the city and that's expensive in terms of rent and in terms of buying a house renting in a city is is potentially going to hold you back in terms of entering the market so um you know the challenge is what can you do to give up that that kind of rent um if you're really serious about saving it might mean you know can you move home with your parents i know not everyone can do that

Can you consider house sitting?

Would you rent further out to get more affordable rent?

Kicking rent to the curb is absolutely the key to getting an entry-level deposit in a reasonable timeframe.

Yeah, absolutely.

I mean, if you're renting in Richmond or Collingwood or Surrey Hills or Potts Point in Sydney or, you know, any of the high profile suburbs, your rent would be on par with an entry level investment.

And if you look at it like that, you just sort of start to say, wow, that money could be going to a mortgage every month.

The deposit is the challenge.

I don't necessarily think everyone should be striving to own a home.

The thing that I love about our generation is that there are people with all sorts of different values.

Maybe they're investing in shares.