Tips to help save for a house deposit

With the rise in house prices its getting more difficult for first time buyers to climb on the property ladder.  Also, gone are the days when you could score 100 per cent loan. Banks and lenders require more evidence to prove you can afford mortgage. To make the Australian dream a reality and own a piece of land you will need to start saving up.

The first home owner grant for (new homes) will get you going with $10,000 (as of 1 January 2014) towards your new home. The First Home – New Home Scheme also provides stamp duty concessions on transfer duty. For more details about the First Home – New Home Scheme contact the NSW Office of State Revenue. Continue reading