It’s a decision many young Aussies are facing.
Pets cost money, sometimes big money.
An Animal Medicines Australia report from a few years ago put the cost of owning a dog or cat at between $3000 to $6000 in the first year, reports The West Australian newspaper.
After that, dog owners faced average costs of $3218 each year, and cat owners $1715.
Over a decade, a pet pooch will put you back $35,000.
Using some self-professed “back-of-the-envelope” maths the West Australian reporter goes on to calculate that owning a dog would set you back two-and-a-years of savings towards a house deposit.
“If companionship and better mental health are your goals, buying a pet or fostering one is money well spent,” the journalist writes.
“But if home ownership is top of your list, you probably can not afford a pet just yet.”
That may be disheartening but it may not be quite so black and white.
It’s more a matter of going into pet ownership and home ownership with your eyes wide open.
Setting a realistic budget and getting independent financial advice are two important first steps when you’re ready to commit to saving a house deposit – with or without a pet in mind.
Looking for a new backyard for your pooch? View our current listings for sale or talk to us about selling.
