Most Australians aspire to own real estate and yet sadly, it seems that for an increasing number of us it will remain just that, an unfulfilled aspiration.
We’ve all heard the stories of cashed-up investors paying crazy prices at auctions destroying the home ownership dreams of first home buyers. These stories are not media beat-ups and they are not isolated incidents.
As a result, it seems likely that a large proportion of the current generation of younger Australians may be substantially less well-off (at least financially) than their property-owning parents who have been the beneficiaries of rising real estate prices for decades.
There have been many inconclusive discussions about what to do about this complex and difficult problem. We’re certainly not suggesting that we have all the answers, so we’ll leave that debate to other forums.
However, as an ADF member aspiring to become the owner of your own home or of an investment property, we urge you to consider the significant advantages arising from your current employment that may help to make property ownership a reality for you and your family.
Most importantly, remember that from a lender’s point of view, ADF members are highly desirable potential customers. That’s because ADF members:
– Receive regular, steady and growing fortnightly incomes; – Have (relatively) secure and permanent employment; – Are (generally) fit and healthy; – Have access to free professional medical and dental care; and – Are members of generous death/incapacity and retirement benefits schemes.
These characteristics add up to the kind of long term, reliable customers that lender’s love to have on their books. Contrary to a commonly held belief, lenders do not enjoy foreclosing on mortgage holders. On the contrary, their commercial interests lie in acquiring low risk and secure customers who can be relied upon to steadily pay off loans without incident. Therefore, when you seek to borrow money to buy a home or an investment property, remember that as an ADF member you are in a powerful position to negotiate the best rates, terms and conditions.
If you’d like to gain a better understanding of the true value of your ADF Employment Package, we recommend that you review the information available on the Centre’s website. This includes access to our Employment Package Estimator which is designed to help you think about the salary and benefits that a career in the ADF offers. The Estimator should be of considerable assistance when you’re contemplating the purchase of a home as an integral part of building your and your family’s financial independence.
Check out our other articles on a range of helpful topics