A new survey from realestateview.com.au revealed that stamp duty, the rising cost of houses for sale, and saving up for a deposit are the three biggest obstacles that hinder young Syndeysiders from buying a home,
"These kind of survey results are just sad to hear, since I know for a fact that there are a lot of young Sydneysiders out there who have the passion to become homeowners. A buying rush for properties usually happens whenever interest rates are down, but, unfortunately, many young Aussies living in
"If there was one thing that the global financial crisis has taught us it's that you can't solve new problems with old solutions. So if we continue following the old process, there's a big chance that the next generation of Aussies will be renters all their lives," he explained.
"In order to stop this cycle, I recommend young Aussies to start thinking of creative ways to solve their property problems rather than follow the traditional process. For instance, rather than take out a new bank loan, buyers may negotiate for flexible payment terms with the seller, wherein the buyer assumes the existing financing and pays the rest of the remaining equity in increments. In that way, a buyer doesn't have to spend a large sum of money upfront. And because the payment terms are more convenient to the buyer, it makes it easier for the buyer to pay the seller's asking price. It's a win-win for both parties," he shared.
If you want to learn more about creative real estate strategies, you can join
For over 23 years property millionaire
He constantly refines his techniques as he buys and sells properties through his We Buy Houses business which operates in
A gifted speaker and educator,
He regularly records and publishes iTunes podcasts via his channel
His innovative low-risk, high-reward approach to Australian real estate investing has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor.
To register for one of
Read the full story at http://www.prweb.com/releases/homebuyer-problems/rick-otton-solutions/prweb11839375.htm
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