Jacob Cocciolone | May 25, 2023 16:01
This comes as new research commissioned by ING detailed smaller, low maintenance homes are on the home buying agenda for those looking to achieve the great Australian dream.
Further, 19% of Aussie families said they would opt for a home with less outdoor space.
ING Australia Head of Mortgages Fiona Prater said ING’s latest research reveals Aussies families are being savvy about their next move, re-evaluating what the ideal family home is.
“The pace of family life has picked up as we’ve emerged from the pandemic and families are undeniably wanting a more efficient and balanced lifestyle,” Ms Prater said.
“They’re willing to sacrifice a big home to be closer to amenities, family, friends and work in order to spend more time doing the things that matter most to them with the people they care for most.
“With the heightened costs of living, families are also thinking about how they can keep their costs down and a smaller home that’s closer to public transport or work and costs less to maintain is a smart way to achieve this.”
With this in mind, ING's commissioned survey revealed 35% of Aussie families in the past 12 months have considered renting or sub-letting parts of their home including spare rooms, garage or parking spaces, or their whole home while away on holiday.
Further, 28% have considered growing a veggie patch to save on rising grocery bills and 20% have added or requested that their landlord add solar panels to reduce their energy bills.
ING’s Fiona Prater outlined five tips for Aussies looking to enter the market for the first time, or upgrading to achieve growing family needs.
"Is the perception of the great Australian dream changing with the times? " was originally published on Savings.com.au and was republished with permission.
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