Saving for a House deposit? Can You Afford to Wait?
While you continue to pay rent and save a 10% deposit, let alone 20%, house prices keep on rising. You are literally the hamster on a wheel.
How long does it take to save for a house deposit?
It now takes a record 10.6 years* to save for a 20 per cent deposit.
A toxic combination of housing supply-side shortages, cost-of-living pressures, high interest rates, and low savings has dragged house affordability to near record lows.
But what if you could buy a home tomorrow with a 1% deposit?
Yes, there are other costs and interest on a larger home loan, but you are building equity today and no longer chasing your tail saving for a deposit on a house that keeps increasing in price.
Instead, you could be on the property ladder, building equity, independence and wealth.
Will you be able to save $1,000 /month for 5 years to buy your first home for $729,000, or would you rather buy it this year for $600,000 and build 30% equity* ($220,346) over 5 years?
With our unique deferred deposit solution, you can buy your first home from one of our participating developers with a 1% deposit. Eligibility criteria, terms & conditions apply.
| Comparison | 10% Deposit | Years to Save at $1k a month | 1% Deposit | Equity | |
|---|---|---|---|---|---|
| Purchase Price | 600,000 | 60,000 | 5.0 | 6,000 | |
| Annual growth 4% | Equity* | ||||
| End of Year 1 | 624,000 | 62,400 | 5.2 | 14% | 89,226 |
| End of Year 2 | 648,960 | 64,896 | 5.4 | 18% | 119,805 |
| End of Year 3 | 674,918 | 67,492 | 5.6 | 22% | 151,802 |
| End of Year 4 | 701,915 | 70,191 | 5.8 | 26% | 185,291 |
| End of Year 5 | 729,992 | 72,999 | 6.1 | 30% | 220,346 |
