We unpack a recent survey by Bankwest, revealing that a whopping 78% of young aspiring homebuyers are willing to cut back on property features to secure a home. It's a reality check that compromising is not just common; it's essential. Whether it's the location, property size, or specific features, something has to give.
Throughout the discussion, we highlight the three P's: Price, Property, and Position. Every homebuyer, regardless of budget, faces the challenge of deciding which of these P's can flex. We explore generational differences in attitudes towards compromise, noting that while Gen Z and Millennials might be more flexible, Boomers tend to stand firm on their preferences.
By the end of this episode, you'll see that compromising doesn't mean settling—it's about making smart choices. Tune in to get actionable tips and a better understanding of how to balance your needs and wants.
➼ The Bank of Mum and Dad: Examining the Opportunities and Potential Pitfalls https://homebuyeracademy.com.au/podcasts/133
➼ Young West Aussie home buyers willing to sacrifice life's little luxuries https://www.bankwest.com.au/about-us/media-centre/news/young-west-aussie-homebuyers-willing-to-sacrifice-lifes-little-luxuries
Veronica Morgan & Meighan Wells
Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.
Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!
Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.