Welcome

To

H O W T O S AV E M O N E Y F O R Y O U R F I R S T H O U S E ?

Saving for a new house deposit is one of the most difficult tasks because of the modern world and its expenses. But being aware of few things helps to save your hard-earned money. However, it takes a large amount of discipline and a well-executed strategy. In this blog, you will learn about few ways to save a deposit for your first home.

B U D G E T

Many young people want to live alone and leave their parents’ house without knowing that they have to pay big rent bills every month and as a result, they c a n’t sa ve money. To suc c essfully sa ve a deposit for your first home, you need to live with your parents and cut out all the expenses that you have spent at restaurants, movies, shopping, and much more. Stick to a budget and save money for your first house.

R E G U L A R S AV I N G S

This is an obvious one! When you are saving for something big,it is necessary to foc us on wha t you truly need to

spend your cash on. Most people think that it’s difficult to save money.According to money and pensions research, only 20% of people love to save their money in many schemes and investments while others are spending their money on foods, shopping, travelling, fashion, etc.

S H A R E D O W N E R S H I P S C H E M E S

Are you struggling to build up a deposit for a new home? Well, you could simply buy a small portion of the property.S ha red ownership a llows you to purc ha se between 25% and 75% property from a housing a ssoc ia tion a nd pa y lea se on the rest of. And for that, you still have to money in your account but the amount you have to pay will be smaller and in proportion with the amount you are purchasing.

G E T A G O V E R N M E N T B O O S T

Do you know g overnment offersIS As intended to help you

increase your deposit for yourfirst-time home?

Investment funds in a Help to Buy IS A a re supported by 25% with a reward paid by the government (up to a commitment cutoff of £12,000). Keep one thing in mind that the minimum amount you need to save to qualify for a bonus is £1,600.To know more about this information, contact the best real estate agent in KonxField.

T H E B A N K O F M O M & D A D

If the methods above are not working in the time you ha ve, your pa rents mig ht be a ble to help. We all know parents help their children financially for ages and that is as yet the case today. If they don’t want to gift their home, they could lend the money to you. It depends upon the contract setting out the terms for repayment and interest payable.On the other hand, they could go about as home loan underwriters, joint borrowers, or offset their investment funds against your home loa n to diminish the a mount of revenue you needto pay eachmonth.

G e t i n To u c h

Address: 41/1470 Ferntree Gully Rd, Knoxfield VIC 3180, AustraliaToll Free: (+61) 452 054 470Email: dj@knoxpropertyexperts.com.au

CONTENT RESOURCE: https://realestateagentau.medium.com/how-to- save-money-for-your-first-house-8b34634239ab