Navigating the journey to homeownership in Australia can be challenging, especially when facing the deposit hurdle.
The key is to have the right mindset, a vision of what you want - and a smart goal of what you want to achieve .
A goal that is Specific , measurable, Achievable, Realistic and with a time frame .
If you don’t have a deposit , here’s a quick look at some tips to enable you to get that kickstart!!
1. Leverage Government Schemes: Utilize programs like the First Home Guarantee for a lower deposit requirement. If you are a front line worker - there are some amazing programmes - such as the NSW home shared equity scheme, where Government will fund up to 30pc of a property (new buildings 40pc )
2. Explore Alternative Lenders: Don't limit your options; alternative lenders might offer more flexible terms.
3. Consider Shared Equity: A viable solution for those unable to buy outright, increasing ownership over time.
4. Innovative Saving Practices: Regular saving and expense management can accelerate deposit accumulation.
5. Boost Income Creatively: Side hustles or renting out space can supplement your deposit savings.
6. Professional Financial Advice: Having a financial planner, accountant and mortgage broker in your team is gold . They can help tailor a plan to suit your unique homebuying journey.
Your dream home is within reach with the right mindset, approach and guidance.
Let's discuss how we can help you make it a reality.
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Call me on www.bsifinance.com.Au
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