A recent nationwide online survey commissioned by Mortgage Choice has revealed that first time homebuyers are riddled with sacrifices and concerns when taking the step onto the property ladder. The First Homebuyers Survey is an annual excursion into the minds of those setting their hearts on a home.

Warren OÕRouke, national manager of Australia’s mortgage brokers franchise, Mortgage Choice, said, “With housing affordability at a low, interest rate concerns at a high and the rental squeeze beginning to pinch, it is intriguing to uncover the demographics and inclinations of todayÕs Australian first homebuyers-to-be.”

More than 1,000 people responded to the survey, answering a range of questions regarding their plans to buy their first home. It revealed that 91 per cent are willing to make sacrifices in order to afford their first home, while 48 per cent have concerns about affording repayments should rates increase after purchasing.

Of all the participants, only 36 per cent would buy alone and 37 per cent will be aged 41 or over when they make their first property purchase.