The issue of housing affordability is one that is often faced by Australian families who are trying to get themselves into the competitive housing market. The media and economists attribute the reasons for housing affordability to many factors, including Australia's growing population, historically low interest rates and the increasing cost of homes across Australia.

However, there is hope for the current generation of first home owners and first time builders who are hoping to achieve the great Australian dream of buying their first home. We are here to help you get started with a variety of great home products and solutions that are especially designed for first home buyers.

 

Metricon's Victorian housing general manager Peter Langfelder says that, "there's no doubt that buying a first home can be challenging for Victorians. House prices are driven by supply and demand. Both have worked together over the past decade in Victoria to push up the cost of land and subsequently house prices in Victoria." Of course, housing affordability is something that is experienced by first home buyers all across Australia.

It should also be remembered that if you are a first home buyer or first time builder then depending upon your circumstances, you may be eligible for a First Home Owner Grant. The First Home Owner Grant is the Australian Government's helping hand designed to make it easier for first home owners to realise their home ownership dreams. For further information, please read our First Home Owner Grant Fact Sheet.

 

One option that is worth considering is building a brand new home rather than buying an established home. Peter Langfelder says, "You generally save money buying a new home, because you only pay stamp duty on the cost of the land, not the building. If you're a first home buyer you may be eligible for a state government grant and also additional stamp duty savings. Plus there is the ability to save money while your new home is being built: payments are staggered throughout the process so you don’t have to come up with all the money up front."

If you are a first home buyer then you should definitely consider HomeSolution by Metricon which can assist with getting families into a brand new home even with a low deposit. Peter Langfelder says, "HomeSolution by Metricon helps people realise the new home ownership dream by simplifying the buying process for a new home as well as removing the complexity surrounding home loan approval, land selection and finally building." Find out more about HomeSolution by Metricon.

Buying your very first home is a giant step but if you are ready to find out how we can help you out, then please contact us today. If you wish to discuss finance then we also work with a variety of finance partners who can provide you with a free, no-obligation chat.

Another great place to get started is by exploring our handy starter kits, including those for First Home Buyers and First Time Builders. If you based in Melbourne, you should also consider attending one of our popular BuildSmart Series information sessions. Visit our Events page to discover when the next first home buyer or first time builder session is scheduled.