What would you be willing to sacrifice to afford your next home?

It’s commonly said that property buyers, particularly those in Gen Y, are not keen to compromise on their lifestyle.

However, if you wanted to get your foot into the property market what would you be willing to sacrifice?

The recently released realestate.com.au Housing Affordability Sentiment Index (HASI) conducted by independent research company Research Ink, asked broadly what home buyers would be willing to sacrifice in order to afford a property.

They found that 65% would be willing to sacrifice a pool, consistent with previous years.

Meanwhile, 44% would not be willing to buy/build further than 10 kilometres from their selected ideal locality. Fascinatingly, investors were more likely to consider purchasing 50 kilometres or farther from their ideal investment location.

One in two of Gen Y respondents were willing to increase their debt level to achieve their desired standard of living.

Over a quarter of current/previous property owners surveyed received financial assistance for their first property, with the majority of the help coming from their parents.

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