That is the advice Front Runner Finance owner Laurie Parkes has for young couples looking to buy their first home. 

Housing affordability has become a hot topic once again following the announcement of measures in the 2017-18 Federal Budget to help more people own a home.

First home buyers would be able to use voluntary contributions to their superannuation to save for a house deposit.

Withdrawals would be taxed at a lower rate, but the amount people can contribute is capped at $15,000 a year and $30,000 in total. 

Mr Parkes said taking money out of superannuation isn’t a wise decision for young people to make. 

“I don’t think it is a very good idea because most people I see don’t have enough in superannuation and if you want to live on a pension it is not going to cut the mustard,” he said.

He said young people who don’t have the money for a deposit, which is usually a minimum of eight per cent of the value of property, plus costs, should consider having their parents go guarantor on the loan.

Contrary to what many think, Mr Parkes said, guarantors aren’t responsible for repaying the entire loan.

“The most that mum and dad would be up for is 20 per cent, plus costs, so they aren’t putting their entire house on the chopping block,” he said.

Bathurst Real Estate principal Michael Whittaker agreed that taking money out of superannuation is unlikely to solve the housing affordability crisis.

“I don’t know if it is going to make any difference. I think the key is obviously that the person would have to put extra money into their super in the first place,” he said.

“On the surface, it seems like a good idea, but whether it has any affect at all, only time will tell.”

Mr Parkes said if people want to have the money for a deposit, the simple solution is to start budgeting their household’s income.

“If you do a really good budget, you say ‘Okay, I can put away $500 a week’, you put that $500 away and then you live off the rest,” he said. 

Mr Whittaker said budgeting is important for everybody and sometimes people need to give up “a few of those little luxuries” so they can own a home sooner. 

He also said people should never try to impress people, but rather buy what they can afford and “make that home your own”.