Home Real Estate Dispelling the Millennial Money Myth: Victoria Devine’s Upcoming Revelation Shatters Stereotypes

Dispelling the Millennial Money Myth: Victoria Devine’s Upcoming Revelation Shatters Stereotypes

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Dispelling the Millennial Money Myth: Victoria Devine’s Upcoming Revelation Shatters Stereotypes

A New Approach to Millennials Owning Property

Victoria Devine, a finance expert, challenges the notion that millennials can’t own property in her latest book, “Property with She’s on the Money.” Devine believes that while buying a home may be different today than it was 30 years ago, it is still attainable for millennials.

A Different World

In an interview with 9Honey Money, Devine explained that the world has changed dramatically since 30 years ago, affecting property prices. In the past, the average property in Australia cost only four to six times someone’s annual salary. However, in Sydney today, the cost has increased to 27 times the average salary. Devine argues that this change in the property market necessitates a different approach.

Redefining the Dream

Devine emphasizes the need to reframe our idea of the “dream property.” Instead of focusing solely on purchasing the ideal home, she suggests considering a property that fits within our current financial means. This more realistic approach allows for a stepping stone into a larger property in the future.

A Good Investment Option

Devine encourages millennials to view property ownership as a viable investment. Rather than expecting to pay off a home with a 9 to 5 job before retirement, she suggests exploring other avenues for financial success. According to Devine, owning property can still be part of the great Australian dream, but our understanding of it may need to adapt to current circumstances.

Understanding Your Property Money Story

Before diving into the process of buying a home, Devine advises analyzing why you want to own property. It’s important to discern whether this desire aligns with your values or stems from societal expectations. She urges individuals to be transparent about their motivations, as not everyone may feel compelled to own property. Renting can be a valid and fulfilling option that offers financial freedom.

The Book’s Practical Steps

“Property with She’s on the Money” provides a comprehensive guide for aspiring homebuyers. The book covers every step of the purchasing process, from researching options to the first year of homeownership. It also offers practical advice, including the importance of examining sold listings to gain insight into realistic property prices.

The Role of Compromise

Devine acknowledges that compromise is an essential part of the property-buying journey. Not everyone can build their dream home from scratch with an unlimited budget. She advocates for open and honest discussions about compromise, encouraging individuals to prioritize their must-haves while understanding that compromise is necessary for the best possible outcome.

Overall, Devine’s book aims to help millennials navigate the property market and challenge the perception that owning a home is an unattainable dream. By adopting a more flexible mindset and considering alternative options, millennials can still achieve their property goals.

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