ParkTrent Investment

If you are concerned that you will be living at home longer as the 'great Australian dream' of owning your first home is becoming increasingly difficult, you're not alone.

However, there is light at the end of the tunnel. A recent survey of 1060 participants from Mortgage Choice found that 43% of first time buyers in the next 2 years are planning to purchase an investment property as their first home, with 28% classified as Gen Y.

For many parents this may come as a surprise, considering that most of Gen Y (born 1981-1994) is typically stereotyped as wanting everything handed on a silver platter.

"Many Gen Y respondents recognise building a nest egg rather than building a nest may better suit their income and needs at this early stage of their lives," says Mortgage Choice spokesperson Kristy Sheppard.

The 2011 First Time Property Investors Survey found that respondents will cut back on spending, delay buying a car and even buy less alcohol to make their first home an investment property.

With interest rates staying on hold since November 2010, the number of first home buyers has significantly increased in the market.

Even though the First Home Owner's Grant and Stamp Duty concessions do not apply when purchasing an investment property as your first home, there is the option to join forces with parents or family to purchase.

There are great benefits from making your first home an investment property, no matter what age. At ParkTrent, our property investment specialists can help first home buyers purchase their first home as an investment property.

Contact our Customer Service and Sales team on 1800 652 224 or email contact@parktrent.com.au for more information or to make an appointment with one of our property investment specialists.