+ Reply to Thread
Page 1 of 2 12 LastLast
Results 1 to 10 of 14
  1. #1
    Join Date
    Mar 2012
    Posts
    219
    Thanks
    179
    Thanked
    42
    Reviews
    5

    Default Saving deposit for first home

    How long did it take you to save your first home deposit? How much did you save?

  2. #2
    Join Date
    Sep 2010
    Posts
    5,530
    Thanks
    377
    Thanked
    1,526
    Reviews
    7
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts

    Default Saving deposit for first home

    About two years. We were living rent free at my parents house and we saved around $20k.

  3. The Following User Says Thank You to duckduckgoose For This Useful Post:

    tea&toast  (23-08-2012)

  4. #3
    Join Date
    Jan 2012
    Posts
    984
    Thanks
    238
    Thanked
    313
    Reviews
    1
    Achievements:Topaz Star - 500 posts

    Default Saving deposit for first home

    About 18 months. I put $300 a week into savings (some of it went to our wedding, though)

  5. #4
    Join Date
    Nov 2008
    Location
    Regents Park
    Posts
    1,047
    Thanks
    27
    Thanked
    147
    Reviews
    0
    Achievements:Topaz Star - 500 posts

    Default Saving deposit for first home

    It took us 12 months to save 10k, the last 4 months we lived with my parents so had no rent or any other bills!

  6. #5
    Join Date
    Aug 2012
    Posts
    322
    Thanks
    437
    Thanked
    69
    Reviews
    0

    Default Saving deposit for first home

    We saved about $7k in 6 months but we used the FHOG and mum n dads equity to avoid LMI as I was only 19 when we bought land n built. We were renting at the time of doing so.

  7. #6
    Join Date
    May 2011
    Posts
    7,878
    Thanks
    3,397
    Thanked
    5,160
    Reviews
    8
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    It took us about a year.
    We wanted a 20% deposit so we wouldn't have to have LMI (lenders mortage insurance) and we wanted all legals and stamp duty to be paid up front. That way our loan was the price of the house minus our deposit. We had no surprises from the bank.

  8. #7
    Join Date
    Jun 2012
    Posts
    137
    Thanks
    19
    Thanked
    43
    Reviews
    0

    Default Re: Saving deposit for first home

    About 18 months to save 20k whilst renting and we saved really hard!

  9. #8
    Join Date
    Nov 2008
    Posts
    14,057
    Thanks
    1,875
    Thanked
    2,608
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts

    Default Saving deposit for first home

    We saved 20% (50k) for our land deposit. It'd hard to say exactly how long it took, because there are other factors that contributed to it.
    We have saved 17k in the past 20ish weeks, though.

  10. #9
    Join Date
    Mar 2011
    Posts
    795
    Thanks
    900
    Thanked
    233
    Reviews
    0
    Achievements:Topaz Star - 500 posts

    Default Re: Saving deposit for first home

    Nearly 4 years for the first home, we were students working part time, first home owner grant and tax return were added to the deposit too.

  11. #10
    Join Date
    Apr 2012
    Posts
    512
    Thanks
    163
    Thanked
    67
    Reviews
    6
    Achievements:Topaz Star - 500 posts
    75k we saved and it took a couple of years (mostly DH saved it as I was a student at the time).


 

Similar Threads

  1. No Deposit Home Loans
    By lilrussell in forum Family Finances
    Replies: 11
    Last Post: 15-12-2012, 05:38
  2. First home, deposit? How much do you REALLY need?
    By Happy2be3 in forum House & Gardens
    Replies: 60
    Last Post: 25-10-2012, 13:17
  3. No deposit home loans.
    By Liddybugs in forum Family Finances
    Replies: 11
    Last Post: 05-10-2012, 13:18

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Pebblebee
Parents spend hours looking for things they need NOW. The keys, the remote, darling daughter's treasured teddy. Stop wasting precious time looking & start finding with Bub Hub reviewed Pebblebee Smart Tag. Simply attach a Pebblebee and find it fast.
sales & new stuffsee all
Pea Pods
Buy 2 Award Winning Pea Pods Reusable One Size Nappies for only $38 (in your choice of colours) and receive a FREE roll of Bamboo Liners. Don't miss out, we don't usually have discounts on the nappies, so grab this special offer!
Special Offer! Save $12
featured supporter
Be In Blossom
We offer physiotherapy run pregnancy Pilates, pregnancy Aerobics, and Mummy Pilates & Baby Massage classes with a focus on optimising posture, body awareness, pelvic floor support, back care and maintaining fitness, aiming to assist women prepare and recover from their birth.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!