Buying your dream home – at any stage of life

Starting out

If you’re a first home buyer looking to enter the property market, price will likely be the main consideration in your choice of home. So you may need to steer clear of expensive inner-city locations in favour of suburbs or regional centres.

But as your first property is likely to be a long-term investment, you’ll want to make sure it has the potential to increase in value – so it’s worth doing some research around up-and-coming neighbourhoods in your area.

To avoid straining your budget, be wary of ‘fixer-uppers’ that may require hefty spending on repairs and maintenance down the track. But at the same time, think about how you can add value to the property when you eventually sell. Even a small renovation could give a big boost to your sale price.

The good news for first home buyers is that the government is proposing to offer a helping hand. If the First Home Super Save Scheme is legislated, you’ll be able to access up to $30,000 of your pre-tax super contributions (plus earnings) and put this amount towards a deposit.


As you move through life, your housing needs may change as well. For instance, if you have a growing family or pets, you might be in the market for a larger property with plenty of living areas and outdoor space. You might even consider a cheaper neighbourhood if it means you can afford a more sizeable home.

Other geographic considerations may include easy access to schools, parks and public transport. You may also want to be within a comfortable distance of your parents or other relatives.

If you don’t have a family and you’re not planning to start one, a change of address could allow you to enjoy the type of lifestyle you love. For example, you might take the opportunity to move to a vibrant neighbourhood with plenty of restaurants, cafes and recreational facilities nearby.

Working from home? You’ll probably want a peaceful location with enough space for your home office.


Once the kids have flown the coop, you might think about selling the family home and moving somewhere cosier. And as you settle into retirement, you may prefer to be surrounded by a community of people your own age who enjoy similar hobbies and activities.

Chances are you won’t want to move again any time soon, so you’ll need to consider how your needs may change in the future. As you become less active, you’ll want a home and neighbourhood that are both easy to get around. It’s also worth ensuring you’ll have easy access to medical facilities and government services.

If you’re looking to downsize, you may be able to use it as an opportunity to boost your nest egg. A new government proposal will allow Australians aged 65 and over to contribute up to $300,000 from the sale of their home directly into super if they’ve owned it for 10 years or more. If legislated, this proposal will take effect on 1 July 2018.

Speak to Jason Cook, Financial Adviser

No matter what you’re looking for in a new home, it’s worth talking Jason — he can help you work out your budget and create a financial plan to suit your needs and lifestyle at any stage of life.

Jason Cook, Financial Adviser, WB Financial ABN 67 118 833 168 and Authorised Representative of Financial Wisdom Limited ABN 70 006 646 108 AFSL 231138

Phone 07 3391 7199 or email


Median home prices in each capital city

State House Apartment
Adelaide $524,968 $312,346
Brisbane $546,043 $375,269
Canberra $723,299 $403,128
Darwin $666,686 $351,880
Hobart $404,522 $310,854
Melbourne $865,712 $474,848
Perth $555,788 $377,823
Sydney $1,178,417 $757,991

Source: Domain State of the Market Report, June 2017.



This information is factual information only. It is not intended to imply any recommendation or opinion about a financial product. You should consider talking to Jason Cook, Financial Adviser; and read any relevant Product Disclosure Statements (PDS) before making a financial decision. The information has been prepared by Financial Wisdom Limited ABN 70 006 646 108, AFSL 231138, (Financial Wisdom) a wholly-owned, non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124.

This information is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this document, no liability is accepted by Financial Wisdom, its related entities, agents and employees for any loss arising from reliance on this document.

Taxation considerations are general in nature and based on present taxation regulations. You should seek advice from a registered tax agent or a registered tax (financial) adviser.


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