Why it pays to plan ahead

With some sensible strategies, it’s a lot easier to stay motivated and on track to achieve your goal of home ownership!

Chart a clear course

It’s a lot easier to save for a first home if you have a blueprint showing how much you need to tuck away each week, fortnight or month to reach your target. Drafting a savings roadmap also lets you see at a glance the progress you’ve made – and how close you are to your target deposit. This can be especially inspiring as you head towards the finish line.

To see how regular savings will take you one step closer to your ideal deposit, check out our Savings Target calculator. 

Reward yourself

All work and no play is boring. Make growing your deposit fun by rewarding yourself when you hit key milestones. Keep the rewards simple and budget-friendly to stay on track with your ultimate goal. 

Don’t all the heavy lifting yourself

Don’t just save hard. Save smart. Actively look for savings accounts offering the top rates. Sure, it can mean switching your money between accounts from time to time, but for the sake of filling out a 100 point identification form you could supersize the rate your money earns. It means the banks are doing their fair share of heavy lifting to grow your deposit.

Take a midway breather

There will come a point when you’ve built up a reasonable kitty of funds. At this stage it can be tempting to dip into the cash for other purposes - but try and resist the urge. Instead, take a breather and take stock of what you have achieved so far. 

Get some coaching

It’s always reassuring to know someone is barracking for you from the sidelines. When it comes to saving for your first home, we can provide plenty of support long before you have a purchase deposit.

Here to help

We can get you up to speed with how home loans work, and walk you through all the information you’ll need to successfully apply for your first home loan. It’s a surefire way to keep your motivation pumping in preparation for the day you’re ready to buy your first home. Call us today!