Five under $500,000 - July 31, 2018
In completely unsurprising news, the latest Household Income and Labour Dynamics in Australia (HILDA) survey results are in and the number of renters achieving home ownership has dipped, with 18 to 24-year-olds struggling the most.
The HILDA report also shows we millennials (aged between 25 and 34) are most likely to be paying rent while those over 55 (our folks) are far less likely. Classic.
You needn't wave your white flag yet, though. You've just gotta get creative. Here are five options under $500,000 to keep you motivated.
127 Hargrave Street, Peterhead, Adelaide
The dream of owning a cottage with a white picket fence isn't over in Adelaide. We've loving this three-bedroom renovated home built in 1910. It has decorative fireplaces, open plan kitchen, living and dining areas, a covered deck and alfresco entertaining area. It's priced between $395,000 and $430,000. For the love of god, young guns, get in there.
No fixed address, Victoria
Tiny homes are rad, and this one, priced at $69.500, is ready to roll to a block of land near you. It's been constructed on a trailer base, has timber fittings, barn-style doors, power connections and an ensuite. It's even fitted with luxurious split system heating and cooling. You'll have to fold the bed away if you want to use the living room, but that's a small price to pay for the freedom that comes with having your own shack on wheels. Nowhere to park it? Whack it in your folks' backyard while you save for something better.
1/10 Burnley Street, Richmond, Victoria
This is a small one-bedder, but the pub vibe is strong in this hood, so you'll barely be home anyway. At $419,000 (plus owners' corp fees) it's not exactly cheap. You'll probably get more bang for your buck if you buy something that needs a bit of love. But if you'd rather a place that doesn't need a thing done, this could be the one. It has stone benchtops, Miele appliances, storage cage, video intercom, pool, gym and sauna.
6 Boddington Street, Mackay, Queensland
How's this stunner? All your property affordability woes could be over if you're prepared to move to the sunshine state. Here you'll get a renovated Queenslander with three bedrooms, high ceilings, polished timber floors, stained glass windows a cellar and separate studio. It's all yours for $399,000.
12 Dalmeny street, Rosebery, Tasmania
Don't panic, pals. You don't have to move to the middle of nowhere to get a property for less than $100,000. This place in regional Tassie is going for just $72,000. The three-bedder home has a rental yield of 9.39 per cent. The tenant pays $130 per week, taking care of your mortgage, so you can keep renting where you actually want to live. Needs a paint job, but it's in pretty good shape for an old duck.