Co-buying a viable option for first home buyers

Roughly half of the properties in the latest release at the Cedar Woods development in Jackson Green, Clayton South, were sold to first home buyers and young couples.

The latest release of Jackson Green’s town homes, features a selection of 23 architecturally designed three and four bedroom homes.

Patrick Archer, state manager, Cedar Woods, said town homes are a great option for first home buyers as they are affordable, low maintenance and provide excellent investment opportunities for young buyers. 

“Government grants and stamp duty exemptions make buying off the plan desirable for first homebuyers as the total capital outlay is greatly reduced,” he said.

Emily Vuong, recently purchased a three bedroom town home in the recent Grove release at Jackson Green.

She said she was only able to purchase the town home after teaming up with her boyfriend and parents.

“I would never have been able to purchase a property myself," she said.

“From my parents’ assistance I was able to get a foot up in the property market much earlier than most friends, purchasing off the plan allows me to save up a larger deposit before settling, reducing my overall mortgage.

“The co-buying approach is a common topic of discussion at social gatherings, with friends investigating possible partnerships to enter the market sooner rather than later."

To find out more information on the Jackson Green community visit www.jacksongreen.com.au