What Hidden Costs Do You Still Pay When Using a Government Scheme?
Government schemes like the First Home Guarantee and the First Home Owner Grant are genuinely game-changing for eligible buyers. But here is the...
The First Home Loan Deposit Scheme (FHLDS) will allow you to get a property with a 5% deposit and no Lender’s Mortgage Insurance.
Still, you’re going to have to come up with a decent chunk of change.
And that means you’ll have to get good at budgeting. Here’s how:
Tip #1 – Cut Out Unnecessary Expenses
Sit down and make a list of your income streams and your expenses. Then, cut out anything you don’t need. For example, getting rid of a gym membership could save you $50 to $100 per month.
Tip #2 – Get Rid of Any Debts
It’s a good idea to get rid of debt as soon as possible. For one thing, you’re paying through the nose for interest every month. If you absorb the cost of clearing the debt in the short-term, you’ll be able to save more in the long-term.
But also…
Lenders look at your credit report. And if you’ve got a lot of debt, that may affect your serviceability.
For now, why not join our community to find out how we’re helping first-time buyers get on the property ladder?
Government schemes like the First Home Guarantee and the First Home Owner Grant are genuinely game-changing for eligible buyers. But here is the...
Disclaimer: These are generated via AI – please note that you need to do your own due diligence and read the report yourself to make your own...