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Partnering Up to Buy Property

A growing number of people are partnering up to buy a property together so that it is more affordable. As the first homeowner grant has dwindled and house prices have risen it has become more and more difficult for individuals to buy a property alone.

According to ING Direct, the number of people applying for a mortgage by themselves has dropped from 55% in 2009 to 43% this year.

Government support for first buyers has shifted to cover only the purchase of new homes and the increased price of these means that this is unaffordable for many.

Married couple, Nathan and Danielle say that getting onto the property ladder together was far easier than trying to buy a property alone.

Despite buying together being easier, both partners were living at home until they bought a home together so that they could save instead of spending money on rent and living costs.

Source: http://www.news.com.au/realestate/buying/double-shot-at-buying-property/story-fndban6l-1226691172358