Save your home deposit sooner: 5 first home buyer tips!

Easy Living Guide

Saving for a home deposit is a rite of passage for most first home buyers in Perth.

And it can actually be pretty fun too, knocking back a homemade beverage with a movie rented on iTunes while others fork out close to $100 for the privilege at the cinema.

The faster you can accelerate your first home saving plan, the sooner you’ll officially be in your first home in Perth. So how can you pile up that first home finance deposit even sooner?

While you are probably doing a lot of the obvious things, here are five tips you might not have thought of to help you become first home buyers in Perth ASAP!

  • Get rent smart

If you’re trying to scrape together first home finance but don’t have the luxury of staying at the Mum & Dad hotel, paying rent can definitely slow down any first home saving plan. But here are a few things to consider. Ask your landlord for a decrease in the rent, especially around lease renewal time. The rental market isn’t as tight as it once was, and if you’re a good tenant, chances are they’ll consider your request rather than having to go through the process of finding someone else.

Plus, look at sub-letting out any spare rooms (if permitted). FIFO’s or students can be good candidates and could pay up to $150 or so a week for the pleasure of shacking up with you.

  • Give the gift of time

There’s nothing like a run of birthdays or Christmas to derail a first home buyer’s savings momentum. To keep your first home finance on track, give a gift that is totally free but people always seem to need: time! Offer your ‘time poor’ family and friends the gift of your time, whether it’s dog walking, housesitting/cleaning, babysitting…or even just agree in advance to spend quality time together to celebrate an occasion, rather than exchanging gifts.

  • Make every second count

Get into your first home in Perth by exploring all your ‘second’ options. Get a second job (like driving Uber or working as a Christmas casual), buy second hand goods (Gumtree is just one of the awesome places to score great furniture, bikes, etc., for a fraction of their cost) and even look into buying ‘seconds’ food – local factories such as bakeries can often offload food at hugely discounted prices purely because it doesn’t look perfect.

  • Find a frugal friend

If you’re friends are all big spenders, it’s hard to hang out while also saving for your first home in Perth. So look at building new friendships with people you meet who are also implementing a first home saving plan. Together, you can opt for the ‘cheap and cheerful’ options, like meeting up for a run instead of paying a gym membership or enjoying a picnic in the park rather than forking out restaurant prices. You could even enjoy some friendly competition to see who can tuck away the most money each month!

  • Shortcut your first home finance efforts with Easystart Homes

We think first home buyers in Perth shouldn’t have to wait years to get into their first home. It’s why we don’t just build awesome homes – we’re also building new ways to help you get into your first home sooner, with exciting first home finance offers such as depositassist and buildingassist that allow you to build new with little to no savings!

Come chat first home finance with us today on 6555 7549!

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