First home buyers are becoming active in purchasing homes today. As for first home buyers, nearly half or 42.6 percent of buyers heavily depend on their parents to enter the property market. The survey showed that 14 percent of first home buyers borrow money from their mum and dad to pay their deposit, 13.2 percent live with their parents and investing and 15.4 percent use a parental guarantor to help secure a loan.
Not all first home buyers, though, depend so much on their parents when investing in property. More than half or 59 percent are also saving via a regular savings account and 14 percent are saving through a first home saver account. Normally, a 20 percent deposit is required when purchasing a home.
Not all first home buyers, though, depend so much on their parents when investing in property. More than half or 59 percent are also saving via a regular savings account and 14 percent are saving through a first home saver account. Normally, a 20 percent deposit is required when purchasing a home.
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