• 05 Dec 2023
Unlocking Happiness: The Aussie Dream of Homeownership

In the pursuit of happiness, there’s a special kind that comes from owning your own Aussie home. As a Mortgage Broker with a passion for making dreams come true, I find immense joy in helping people embark on this journey of homeownership.

Recent research from Great Southern Bank echoes what I witness every day – homeowners are, indeed, happier than renters. There’s a unique sense of fulfillment that accompanies having a place to call your own, and it extends beyond mere bricks and mortar.

The Aussie Dream: More Than a Roof Over Your Head

According to the No Place like Home report, 70% of respondents agreed, that owning a home is an important factor to their happiness. Despite interest rates increasing and the state of the world for, let’s face it – the last three years… the report’s research still shows optimism amongst Australians wanting to purchase a home with one in two Aussies planning to buy a home to live in within the next 3 years. One in two renters are also hopeful of buying a home to live in within the next 3 years too.

What the research shows is there is still growing aspiration to own a home, with it not just being homebuyers that are looking, but 42% of existing homeowners are thinking of buying their next home – either upsizing, downsizing or making a lifestyle change.

Embarking on the journey to homeownership is more than a transaction – it’s a voyage toward a happier, more fulfilling life – the research proves it!

Owning a home in this sun-kissed land is not just about having a roof over your head. It’s about embracing a lifestyle that reflects the warmth of the Australian spirit. Here’s what makes homeownership Down Under a key to happiness:

Stability and Security
A home is a sanctuary, a place where you feel secure, and your roots are firmly planted. It’s a stable haven in a world that’s constantly changing.

Community Connection
Aussie neighbourhoods foster a strong sense of community. From barbecues in the backyard to conversations over the fence, owning a home brings you closer to a network of friends and neighbours.

Investment in the Future
Beyond immediate joy, homeownership is an investment in your future. It’s a cornerstone for building wealth, providing a sense of financial security for years to come.

Personalisation and Pride
Your home is a canvas for self-expression. The ability to personalise and transform your space brings a deep sense of pride and accomplishment.

Freedom to Flourish
With a home of your own, you have the freedom to create the life you desire. Whether it’s raising a family, starting a new chapter, or enjoying your golden years, homeownership paves the way for your unique journey.

More than just bricks and mortar

The report found most people (81%) consider their home their ‘happy place’, and almost three quarters (72%) believe home is wherever their family or loved ones are. Just over half say having a home is about having a place to celebrate their culture and traditions.

“Home ownership is a journey and we acknowledge that it can be difficult.  These results show it is worth the trade-offs people make along the way. Gen Z and millennials tell us that saving a deposit is the key barrier to taking that first step towards buying a home. It’s clear however that Australian homeowners do become happier over time, as they build the equity in their home.” Megan Keleher, Chief Customer Officer, Great Southern Bank.

Happiness is at its highest for mortgage-free homeowners and Baby Boomers, with 57% in each group saying they are happy with their current housing situation, compared to just 29% of long-term renters.

The report found that 51% of renters are feeling heavily burdened by their financial commitments – significantly higher than 36% of homeowners. Long-term renters are also more concerned about the cost of living (84%) and housing affordability (80%) compared to those who have purchased their own home (73% and 62%).

“Every individual’s homeownership journey and personal experience is different, but the report highlights that owning your own home does bring increased happiness for the vast majority of Australians,” Ms Keleher said.

Let’s get those keys

Navigating the path to homeownership may seem daunting, but with the right guide, it becomes a joyous adventure. Here’s how we at Specialist Mortgage can help:

Tailored Financial Solutions – Every homeowner’s journey is unique. We work closely with you to understand your goals and customise financial solutions that align with your aspirations.

Exploring the Mortgage Terrain – The world of mortgages can be complex. We simplify the process, providing clarity on terms, interest rates, and the various options available to you.

Maximising Your Buying Power – We leverage the team’s expertise to ensure you get the most out of your investment. From finding the right loan to securing favourable terms, we are committed to maximising your buying power.

Ongoing Support – Beyond the transaction, we are here for the long haul. Whether you’re a first-time buyer or looking to expand your property portfolio, we provide ongoing support to ensure your financial goals are met.

We can assist you every step of the way, from navigating the homebuying process, to understanding loan options and getting the mortgage that suits your needs. Let’s unlock the doors to your dream home together. Contact me today, and let’s get you that home of your dreams!