How $2000 can get Australians into the property market
There is a new way families could get into the property market without an expensive deposit, using just $2000 and a stable job.
Greg and Louise Sanderson had tried to get into the housing market for 20 years, but struggled to save a 10 per cent deposit to be approved for a loan.
But they have just received the keys to their brand new home after discovering an innovative new way to crack into the property market.
Eligible candidates for the HomeSolution by Metricon must have a $2000 deposit, the $10,000 first home owners grant and a stable job.
There are 17 house designs to choose from on a number of land estates.
"HomeSolution is available in Victoria, South Australia and southeast Queensland and as long as they qualify for the relevant first home buyers grant, there is an opportunity," Luke Fryer from Metricon Homes said.
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But while it's an innovative way to get into the property market, home owners have been warned not to over-extend as rates may increase.
"I think it's a great opportunity for the right people," financial commentator Noel Whittaker said.
"But the worst thing you can do is to lose your house because you can't afford the repayments."