Samantha Motion: You don't have to buy a house before you're 30

Have you seen this look on a 20-something with homeownership dreams? Photo / Getty Images

OPINION

The first decade or so of my career was a moving feast.

Three years studying, five years in my first real job, two years in a different city, a year contracting.

Lucky me, there was some overseas travel and a wedding in the mix too. I'm so grateful for these years.

It wasn't until the end of that decade, as our 30s came calling, that we bought a house and settled down.

Back then it felt like we were buying at the peak of the market. Not by a long shot, it seems.

I think it's fair to say New Zealand's property market is very intense at present.

People are paying what would have not long ago been unthinkably high sums for properties, as average prices rocket up.

And those first-timers who can't stretch their mortgage to these mad new heights are having get creative if they can't draw on the Bank of Mum and Dad.

Over the weekend, NZME reported on the growing deposit requirements first-home buyers are facing.

In 12 months, the amount a buyer would need to have saved for a 20 per cent deposit on a median-valued home has grown $33,000 in Tauranga and $24,000 in Rotorua.

The first-home goalposts haven't just shifted, they have rocketed off the soccer field and are now situated on the members-only tennis courts across the street.

Young people must feel under a lot of pressure to get on the property ladder before it's pulled up out of their reach, but I hope they don't sacrifice too much in the hurried pursuit of that dream.

This isn't intended as financial advice - just an alternative way of looking at the general situation - but consider this:

It's okay if you don't buy a home before you're 25. It's okay if you don't buy a home before you're 30. Not before 40 is fine too, as is never - renting is a viable option if it suits your lifestyle.

Research last year found the average age for buying a first home had risen from just over 31 to 36 since 2012, as deposit requirements rose with prices.

It's not particularly fair but it's the reality.

There is a lot to love about owning a home, but it also comes with sacrifices and risks that only increase if you chain yourself to a mortgage you can barely afford when you're just starting out.

Dream? Yes. Save? Definitely.

But don't rush in before you're ready, simply for fear of missing out.