How to Save for Your Deposit Faster | Home Buyer Academy, first home buyer, saving for a deposit, save faster to buy property, property investing, real estate Australia, bitcoin, co-ownership, buying a home, your first home, credit cards, interest rate

Not having to save for the best part of a decade is one of the ultimate goals we can have in life. It sounds fancy, but believe us when we say that it's totally achievable.

In this episode, we share creative and pragmatic life hacks to speed up the saving period for your deposit so you can get closer to your first home purchase without missing a step. We tackle crucial subjects such as how you can tighten your belt, boost your savings, and avoid putting your earnings at risk.

If you're having trouble saving up for your desired home deposit, this episode will surely prove useful to you. Tune in now!

If you enjoy this episode, do give us a like, share it with others who you know will benefit from the show and subscribe to the podcast! We have loads of resources available and if you'd like to talk with us directly, send us an email at [email protected]!

See you on the inside!

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Episode Highlights:

• The challenge of finding the right home deposit [02:55]
• The 20% pay yourself first scheme [07:01]
• Move back with your parents [11:52]
• Home-made coffee and packed lunch [13:12]
• Getting rid of your car [15:33]
• Co-ownership: Partner with a sibling or a trusted friend [18:32]
• The gig economy [20:13]
• Work out monthly repayments of expected loans at 7% interest [22:32]
• Cut out your credit cards [24:19]
• Do not get married [25:36]
• Say NO to Bitcoin or the share market [27:01]

Links from the Show:

• Our courses
• Episode 4: What are Your Options If You Can't Afford to Buy Where You Want to Live?
• Why First Homeowner Grants and Incentives Could End Up Costing You Thousands
• Episode 9 with David Johnston: The importance of a borrowing strategy

If you enjoyed today's podcast, don't forget to subscribe, rate and share the show! There's more to come, so we hope to have you along with us on this journey!

Learn how to buy your first home without making avoidable mistakes.

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Co-Founders

Veronica Morgan & Meighan Wells

Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.

Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!

Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.