From Dream to Reality:

How Mortgage Brokers are Making Property Ownership Possible for Gen Z

By - Kitty Parker, Director, Kitty & Miles Buyers Agency

The property market is constantly changing, and Generation Z are likely to face many obstacles in the hunt for their first piece of real estate. It can be daunting for Gen Z buyers to try and manoeuvre in the complex property market, but their mortgage broker can help them make informed decisions and provide essential advice.

As a mortgage broker, you are the knowledgeable professional who specialises in helping your Gen Z client understand the risks and rewards of a variety of loans. You can also assist this generation of buyers by helping them understand their financial needs, the best loan options for them, and negotiating with lenders on their behalf.

When it comes to buying property in 2023, Gen Z must consider how long they are willing to live in their property before making a loan commitment. This helps them, and you, determine whether an investor loan or owner-occupier loan is the better option. As a mortgage broker, you can also offer your expertise when it comes to comparing lender rates and loan features so that your Gen Z clients can select the best option for their situation.

For Gen Z looking to purchase an investment property in 2023, mortgage brokers can provide insight into rental yield calculations, capital growth information, and government incentives. Brokers also have access to exclusive mortgage deals which aren’t available through public channels. As a mortgage broker you really are a wealth of important information for your Gen Z client.

It’s imperative that Gen Z buyers understand what they’re getting into when deciding to buy property so they don’t get overwhelmed by the process or take on too much debt. Australian property is very expensive in 2023 no matter where you buy! Your role as a mortgage broker is fundamental to ensuring your Gen Z clients can make wise decisions about buying real estate – and with utmost confidence.

Gen Z buyers often look to their mortgage broker to provide them with guidance on setting up good budgeting habits that allow for regular mortgage payments without causing financial stress over time. Working closely with your Gen Z client will help them reach their property ownership goals without them stretching beyond their financial means.

There are challenges in navigating Australia’s ever-changing property market. As a mortgage broker, you are an experienced professional who can excel in helping the next generation of property owners achieve successful property purchases. With careful planning and sound advice from their trusted mortgage broker, Generation Z clients can best buy property in 2023 and set themselves up for many years to come. As a mortgage broker, you are more valuable to Gen Z than you may realise.

Author bio: Kitty Parker is the Director of Kitty & Miles, a multi-award winning buyer’s agency that helps residential property buyers across the country buy with certainty (they have a 100% success rate to back this). Their services range from expert auction bidding assistance through to a complete end-to-end concierge service.

To get in touch visit: www.kittyandmiles.com.au