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i got given $350,000 ;P
wish id saved up sooner for myself. but then again we would of only been able to get a townhouse further back from the beach and with the deposit we got a 4 bedroom house 3 minutes to the beach.
no advice on saving but having your own house really is awesome.
i always never wanted to own cos i would rather travel than save a deposit.
glad luck went my way cos it would have been a serious mistake in 30 years time.
save save save and get that deposit.
be aware what you THINK you can afford you need to remember you have to pay rates, and water which is a few extra thousand a year. power bills are higher and things like that, so go a little under what you think you can afford
and when I was 22 i saved another 10,000 living out of home in 7 months.
you make the sacrifice. you don't go out. at all. a treat is a coffee. once a month. you live like a pauper for a short time for a large reward. i think 30,000 over 3 or 4 years is totally doable. but you have to cut other luxuries if you're already on a tight budget
They recommend around 10% as your down payment. Put everything that didn't go to bills into a separate account. Having to decide if I really "needed" something aND then transfer it toy debit account made me spend a lot less. It took us a little over 2.5 years to save $27,000.
Work out how much your expenses are and have that amount paid into one account, have a set amount transferred into a savings account each week, and have a set amount for spending. Each week whatever is left over in the spend account from the previous week gets put into the savings account.
We're a family of 5 on a single modest income so our savings are slow going, but you have to start somewhere!
We saved $75k in 9 months by working hard, saving everything (we stayed with my parents and just paid out share) we had money we saved by working overseas (pound had good rates so it was about $12k) we chose house over holidays, new cars, regular nights out etc. it can be done you just need to choose what you spend your money on.
If you're very interested in buying it might be worth talking to a mortgage broker
They can sometimes get you a better deal than the large banks but they will also be able to run through costs that you might not think of such as stamp duty and registration fees, mortgage insurance etc
They will also be able to help you work out how much deposit you need as Some lenders want different percentages
We budget for less than our wage and have done for years - now when we get a pay rise I keep the budget the same and don't take into account the extra money were getting and put it straight away
I also only budget a round figure (for example - if your pay is $847 I only budget on $800) and then put the rest away as soon as it goes into the account. It's not a lot but it adds up over time
All the best!