Where to Start: Purchasing Your Next Home
Analyse Your Current Spending.
First, you’ll want to look at your current financial situation and spending habits. Gather as much information as you can on what you’re currently spending.
Set a Budget.
Almost all good saving plans start with a solid budget. Once you know how much you’re spending, try to find areas where you can cut back.
Get on Top of Your Debts.
The fewer debts you have, the more likely your bank will look favourably on you when the time comes to deciding on your home loan application.
Start Saving.
The more you can save for a deposit, the less you'll need to borrow and pay in interest.
Look For Helping Hands.
Depending on your circumstances, help may be available for you to reach your deposit saving goal sooner.
Home Guarantee Scheme.
You may be able to buy your first home with as little as a 5% deposit. It's part of the Australian Government's home guarantee scheme, designed to support eligible first home buyers to purchase a home sooner.