Saving for your first home can seem like hard work, but with the right help – it doesn’t need to be. Here are some tips to help you get a hold of your deposit sooner.
First things first – speak to a professional. A Liberty Adviser can help you work out exactly how much you can borrow and how much you need to save.
Make a budget
Once you’ve set a savings goal, start your budget Review your bank statements to see what you can cut down and cut out.
Remember – lenders will look at your statements when assessing your loan application, so try to keep unnecessary spending to a minimum.
Reduce other debts
If you’re already juggling existing loans, consolidating your debts could help.
One loan means one easy-to-manage repayment and could leave you paying less interest – so it’s worth asking an expert if this is the right move for you.
Whether it’s a First Home Loan Deposit Scheme, government grant or stamp duty concession, there are lots of options to help you save.
Ask for help
To find out how you can fast-track your home-ownership goal, contact a Liberty Adviser today.