Good article ..good points , Time in , get away from the whiskey and diet coke set , build some equity . He is saying ( in my view ) , if the young lady ( 29 ) had the money to get a place of her own ..which makes good sense .
If the young lady were my daughter , she would already have 8 years of equity , and probably would have spent a lot less in nite clubs ! ..One this for sure , when you hand over the $8.50 for the scotch and diet coke ..ITS GONE ! X 10 , for a night $85 .00 plus plus .
" THE POWER OF NOW
Sue bought her apartment two years -- or about $60,000 (in price rises) -- ago. She's now 25. The difference between her and Ingrid (and many others I speak to) is that Sue had a plan, and because of that she was able to seize the opportunity when it came.
The people I meet who own their own home have all had a couple of years of strategic, strict saving under their belts. And they didn't just wake up one day with Hills Hoist envy and decide to buy a pad.
Now is a fine time to start your saving strategy -- open up a First Home Saver Account (FHSA), so you can get a 22.5 per cent return on your savings (plus, your earnings are taxed at 15 per cent, rather than your marginal rate).
That one little act can add over a grand a year to your savings plan.
Every bit you save now will help you seize the opportunity to snare your dream property when housing affordability comes back.
