Whether it’s a 2 bedroom, 1 bathroom high-rise apartment in Burswood’s The Crest; a 1 bed, 1 bath waterfront apartment in Ascot; or 4 bedroom, 2 bath double-storey house in this Kardinya precinct, SOMO offers a huge array of housing choices for Perth’s first-home buyers.
But it wasn’t always like that.
Builders typically target first-home buyers by offering the cheapest dollar amount per week, which really translates to the most far-flung suburb you’ve probably never heard of.
Whether you’re a young single person or a young couple, SOMO founder Jay Walter says people are being persuaded to buy a four-bedroom two-bathroom home because “that’s what’s best for resale” and not what they need right now.
“My wife and I made the same mistake. We bought a four-by-two and lived in it for a few years and when we went to sell it, we realised we had only occupied about 50 per cent of the house for the entire time we’d been in there – but had been paying for it,” he explains. “Whereas, we could have spent the same amount of money, leaving with the same kind of equity after four years, and lived in a house that could have been better suited to our needs at that time.”
SOMO understands that people have different housing needs at different stages of their life, which is why we have the most extensive range of options available to first-home buyers.
“People say the great Australian dream of owning your home is dead and I don’t agree with that. I just think it’s just changed,” says Jay. “We no longer buy houses to live in for 20-30 years, and we may not necessarily need a four-bedroom house with two bathrooms and a big backyard.”