How do you cope with the worry of never being able to buy your own home or live without a housemate?

[Guest_07716142]

My lease ends in the new year and I've been trying so save as much as I can to get a house deposit with my partner, but no matter how much I save the price keeps going up and now I may need to find a new rental as well because they could be selling. I'm just feeling very overwhelmed and stressed that I'll never get to that next chapter in my life and that i could possibly be bringing my partner down too due to my income.

[white knight]

Hi, welcome 

I hope you're ready for a radical idea. See, ive built two homes, my 1st i lived in a shed I erected on my vacant property and built the house while working shift work.  The 2nd we both lived in my home made caravan while I built this house 5 years ago at 64yo.

During both builds I'd been thinking how young couples could save money to build a house and rent is the problem. 

My idea is easier if you live in a regional area. There's an app called WIKICAMPS $10 one cost. That lists all the free or low cost camping locations in Australia.  It has symbols like- close to a main road, trees, toilets, dogs, muddy in rain, internet and phone coverage etc. My idea is that you both buy a campervan or small mobile home and spend nights at these camps. Weekends you can travel around. So if the van costs say $25,000 thats around 12 months rent then you've paid off the van. You could pay a friend to park in their back yard once a week. Even the outskirts of cities has free camps.

Some food for thought. The only other thing you can do is get extra jobs after hours.

If there's anything else just reply. How's your moods with all this going on?

TonyWK 

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The housing market is very difficult at the moment (although varies depending on the particular city, town etc). Some ideas are look for a cheaper product eg apartment/old house; or buy with another person (eg a sibling/friend/family member as well as your partner); or buy at a less desirable location eg outskirts; or see if a parent is willing to go guarantor; or see if you could move a granny flat to the back of a parents property; or move in with family temporarily to save. I would suggest it would also be good to meet with a mortgage broker (they are free) and then they will be able to advise in practical terms what you could afford or what strategies could help you get into the market.

[trying_my_best]

Hi! I completely understand this! I myself (being in my early 20’s) am going through this, I feel like I can never save enough! 
The thing that brings me back is, please remember that this is something that is something somewhat out of our control. Saving is great and please definitely keep doing it! But the housing market and the prices, that is something we just can’t control! And the climate we live in just sucks! But the best we can do is take it one paycheck at a time and save until we can afford it or hopefully when they put the prices down. I do agree somewhat with some of the things the others in the comments have said, in that I think you should definitely keep a safe distance eye out on the market, start thinking about the type of house you want and what kind of location you want it in. Which I’m sure you’re already doing, but keeping an eye on these things can help to get an idea on what you need for it. Have you had a look into the first home buyers scheme? If you haven’t definitely something to consider and have a look at to see if you’re eligible! 

I wish you all the best! I wish you luck finding your home! 🫶