Category : Tips

8 Lifestyle Habits of the Motivated Millennial Home Buyer


According to some commentators, today’s 20-somethings/millenials cannot afford to buy property because they spend too much on brunch. Since The Australian’s article went viral, it has fuelled a lot of discussion about millennials’ spending habits affecting their ability to afford a property.  Obviously, the lifestyle habits of today’s youth is very different to the babyboomers generation so it’s necessary to examine how these habits affects their ability to afford a home.


We live in an age where our lifestyles and behaviours are heavily influenced by social media such that people prioritise things that provide instant gratification like eating out at trendy cafes, entertainment and travelling. We are also spoilt with having the convenience of everything at your fingertips like booking an Uber driver for pick up within 5 mins and having food delivered to your doorstep via apps like Uber Eats, Foodora and Deliveroo.  A typical week could look like this: few social gatherings over a meal, a movie date, drinks and night out, and staying home for Chinese food delivered to you.  These spendings add up pretty quickly!  For the aspiring young home buyer, the temptations are real and that can set you back from your financial goals. If this sounds like you and you want to achieve the goal of buying your first home, here’s a few habits you can adopt to help:


  1. Replace cafe brunches for picnic in the park
  2. Consider shared accommodation if you have spare rooms
  3. Pick up your own takeaway food instead of ordering on Uber Eats/Foodora/Deliveroo
  4. Find coupons and vouchers for your entertainment – Optus/RACQ/Entertainment Book
  5. Limit spending by budgeting a weekly cash amount rather than be tempted to spend more with the convenience of debit/credit card paywave
  6. Aim to aside one-third of your salary towards your savings
  7. Bring lunch to work instead of eating out
  8. Ask your friends to bring a plate of food each for home gatherings

Do you have more tips and strategies that work for you? Share with us in the comments below.

Common Sense Pays Off


When embarking on the search for your next investment property, there are a handful of common sense observations to consider. Searching for the right property for your investment portfolio can be challenging especially when there are a lot out in the marketplace. Brisbane is our city and even though it is on the uprise according to many trusted references (see our publication, the Brisbane Advantage where our research team has collated a handful of critical data on Brisbane), we cannot simply vouch for “one-property-fits-all”. However, there are some common traits we have gathered from our clients and our team when they have their investor hats on. Price and location aside, below is a non-exhaustive list of a traits of a typical ready, willing and able investor:

Know your borrowing capacity – let the numbers do their job

When it comes to a dynamic and fast-paced property market, it is important to be realistic about your options. Searching for properties within your budget will save you heartaches and time in the future. We have found that numbers always keeps our clients honest and rationale with their purchase decisions. At Acchoir, we have filtered through a number of lenders and finance professionals and would put our hands to our hearts to only a few of them. As always, we are always happy to impart on like-minded professionals to our clients when it comes to good business ethics, outstanding results and exceptional service.

Have a buffer – it can save lives!

In addition to knowing how much you can borrow, it is also important to know the golden constituent in all property mortgages: valuation. Knowing that every property borrowing is subject to valuation and without being an expert in the field, we know that valuation can swing either way. More often than not it would be less than the purchase price due to the conservative credit risk modelling of lenders. Therefore, factoring in a buffer into your maximum borrowing sum would definitely make the purchasing process a much smoother experience.

Due diligence  Speak with the locals

If you are serious about investing in a particular suburb, you will find making time to take a stroll around the neighbourhood and speak with the locals is definitely worthwhile. Other than find out what they like about living there (or otherwise), anecdotal evidence is always useful to lead to further investigations when it comes to conducting your pre-purchase due diligence. Likewise for Acchoir, we are always selective about which projects we take on to present to our clients and a part of our in-house due diligence, our team would always engage in physical on site visits. One time after we have spoken with the local residents at the café around the corner of the site, we have found that a large number of residents are unhappy about the proposed disruption and noise mitigation strategies as adopted by the developer. When we looked into the development approval (“DA”) further, there is a high chance that approval will not be obtained as we have been promised. This would have had drastic impact to our clients in planning their finances and portfolio as a whole. Hence, we have made the decision of not taking up that particular project. That particular DA is still pending at the date of this post.

Engage real professionals – ones who walk their talks

Throughout the entire investment journey, you will need to engage a number of professionals to deal with various aspects of the transaction, including, lawyers, accountants, bankers, agents and rental managers etc. One way for us to gauge reliability and impart on our word-of-mouth referrals would be using our common sense. Do they walk their talk? When they said they will get back to you by such a time, do they really do that? At Acchoir, integrity is an entrenched value of ours and it simply means walking our talk. We believe that trust is built and maintained over time and that it would likely have positive correlation to your success in property investing when you affiliate with trusted professionals.

As with all things in life, common sense always prevail.

Happy investing.

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Acchoir Group, Brisbane Australia

PO Box 8020, Sunnybank,

Queensland 4109, Australia


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