Property

Gen Y face tough choices with home ownership

HOME PLANS: Rockhampton’s Nicola Berg, pictured with partner Tim Mills, says she’s keen to buy a home and raise a family.
HOME PLANS: Rockhampton’s Nicola Berg, pictured with partner Tim Mills, says she’s keen to buy a home and raise a family. Contributed

GENERATION Y are facing tough decisions when it comes to choosing between their dream home and having children.

A national survey conducted by industry super fund−owned bank ME showed more than two thirds of Generation Y had to put life goals on hold in order to commit to a mortgage.

Nicola Berg, a young aspiring Rockhampton home buyer, disagrees and believes people shouldn't have to choose one over the other.

Nicola, 22, has been with her partner for five years and is looking to buy a house in the future and also wants to start a family but the odds of doing both, are not in her favour.

The ME survey showed 24% of people in gen y are holding off having a family or deciding to have fewer children compared to the national average of 14%.

The same survey indicated 23% of gen y are delaying weddings opposed to the 10% national figures and 21% are doing the same with honeymoons.

Wanting to buy a house, get married and have kids, Nicola believes her partner and her can beat the statistics if they put their mind to it.

She said she definitely wouldn't sacrifice having children for a house but would sacrifice getting married for her first home.

"I would delay getting married because a house comes first then marriage comes second and I don't want a big expensive wedding any way," she said.

"Life isn't too expensive for us right now because we are pretty good at how we spend our money."

Nicola said everyone's situation was different and it came down to what people wanted with their money.

"I think you will always be struggle street until you get yourself a routine," she said.

"I don't think I will have to put my life goals on hold to buy a house or have children, I think it may just take longer to achieve depending on what the goals are."

Topics:  generation y, home ownership, mortgage, real estate




Harry's MasterChef exit makes way for all-Noosa grand final

Harry Foster congratulates MasterChef finalists Elena Duggan and Matt Sinclair after a closely-fought semi-final.

YOUNG Rocky-born cook now working in his dream job in Tasmania.

REVEALED: A hidden slice of Parkhurst paradise

Carol and Ross Mylrea in their garden.Photo Allan Reinikka / The Morning Bulletin

Inside Ross and Carol Mylrea's botanical gardens.

Latest deals and offers


Your Chance to Win

A Holiday to Kingfisher Bay!
Learn More

48 HOURS ACROSS THE REGION

BOOTCAMP FUNDRAISER: Gracemere woman Nicole Parlett is fundraising this weekend to trek the Kokoda Trail in September in a bid to raise funds for Beyond Blue and tackle the stigma surrounding mental health.

What's On in CQ region this weekend

Michael Hutchence doco to show a life lived INXS

Michael Hutchence.

Michael Hutchence will live in tell-all feature-length documentary.

Sunshine Coast cooks to do battle for Masterchef crown

asterChef Australia finalists Matt Sinclair and Elena Duggan.

Noosa's Matt and Elena stay mates to the very end.

Matilda The Musical's clean sweep at Helpmann Awards

A scene from Matilda The Musical.

TIM Minchin-scored production enjoys record awards haul.

Harry's MasterChef exit makes way for all-Noosa grand final

Harry Foster congratulates MasterChef finalists Elena Duggan and Matt Sinclair after a closely-fought semi-final.

YOUNG Rocky-born cook now working in his dream job in Tasmania.

Kim Kardashian West bemused by selfie 'drama'

Kim didn't expect her naked selfie to cause the stir it did

Alicia Vikander hasn't been home since Oscars

Alicia Vikander "hasn't been home" for nearly nine months.

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

Iconic Denison St building sold for close to $1M

The Swan Hotel building in Denison St.

ONE of Rockhampton’s most iconic buildings has been sold

Unique Rockhampton bar hits the market

HOT PROPERTY: Cuban themed bar Chango Chango is up for sale.

Popular Rocky bar hits the market.

72-year-old Coast developer set to start new project

GREEN LIGHT: The Cosmopolitan has been approved for development at Cotton Tree.

Meet the Canberran set to deliver another chapter for Coast suburb

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd