An increasing number of parents are helping their adult children find the perfect first home

Parents do homework

An increasing number of parents are helping their adult children find the perfect first home, by doing research and crunching numbers to land the best deal, according to developer AVJennings.

AVJennings has received an increase in enquiry from parents about its new Anise project in Bridgeman Downs, which now has its first stage of 19 townhomes complete and ready to move into, with prices starting from just $488,900.

AVJennings National Developments Manager Angus Johnson says, while not all parents provide financial assistance, many are helping their children take the first steps towards home ownership by educating them about their options.

"A lot of parents recognise that the current record low interest rates offer a great chance for young people to either move out of home or quit the rent cycle. Those assessing the offers on hand are realising buying is an affordable option”.

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"The average rent for a three bedroom townhome in Brisbane is currently $425 per week, but if a buyer takes advantage of the $15,000 First Home Buyers Grant and secures an interest rate of 3.5 per cent over 30 years, they could pay as little as $491 per week for a brand new property at Anise."

Mr Johnson says the completion of the first stage of development at Anise will give first time buyers more confidence in their purchase.

"Some first time buyers are hesitant to buy brand new as they don't know what to expect, so the fact we now have brand new, completed townhomes at Anise is a big drawcard, because they can walk through our display and see what their new home will be like first hand," he said.

"Some first time buyers are hesitant to buy brand new as they don't know what to expect, so the fact we now have brand new, completed townhomes at Anise is a big drawcard, because they can walk through our display and see what their new home will be like first hand," he said.

"Anise is resonating with younger purchasers due to its contemporary design and the inclusion of a recreation space at the heart of the community, which includes a pool and a garden featuring fragrant herbs and flowers, which can be used for cooking.

"Our next stage of Anise, which we expect to release towards November, and will include a limited number of two bedroom townhomes, which will provide another option for entry level buyers looking for a start in the property market."

Anise is located in Bridgeman Downs, just 15km north of the Brisbane CBD.

"There has been limited townhouse development in Bridgeman Downs in recent years, so Anise is one of the only opportunities to buy a brand new townhome in the area," Mr Johnson said

"Many of the parents who have enquired live in Bridgeman Downs and surrounding suburbs and are looking for a way for their children to be independent while being close to home and work opportunities in the city.”

"We have also received strong interest in Anise from downsizers who have called Bridgeman Downs home for many years and want to move in to a brand new, lower maintenance home without leaving the neighbourhood."