Saving for a home deposit
Buying your first home is one of life's biggest milestones, but getting there can feel overwhelming. Between rising property prices and higher living costs, putting together enough money for a deposit can be challenging.
The good news is there are practical ways to make your money work harder while saving for your first home.
That's why we've created a free guide to help you better understand your options and move closer to home ownership. From investment strategies and government support schemes to hidden buying costs, it covers some of the key things every first home buyer should know.
Inside the guide, you'll discover:
- How much deposit you may need
- Hidden costs such as stamp duty and lenders mortgage insurance
- Investment options including savings accounts, shares and ETFs
- How the First Home Super Saver scheme works
- Government grants and first home buyer support
- Practical tips to help you stay on track
Free guide
Thinking about using ETFs to save for a deposit? InvestSMART has a range of diversified portfolios that all come with a capped management fee.
If you'd like help selecting the right style of portfolio for you, check out our free statement of advice quiz. It will show you which InvestSMART ETF portfolio may best suit your goals and investment timeframe.
Frequently Asked Questions about this Article…
The free guide explains practical ways to make your money work harder while saving for a deposit. It outlines different investment options — such as savings accounts, shares and ETFs — and helps you weigh them against your timeframe and risk tolerance. If you want a ready-made approach, InvestSMART also offers diversified ETF portfolios with a capped management fee.
The guide covers how much deposit you may need and the factors that affect that amount. It also highlights that the total you need can be higher once you include other costs like stamp duty and lenders mortgage insurance, so the guide helps you plan for the full picture.
The article flags hidden costs such as stamp duty and lenders mortgage insurance (LMI) as common extras that can add significantly to what you need up front. The free guide walks through these kinds of costs so you can budget more accurately.
ETFs are listed among the investment options discussed in the guide. They can offer diversified exposure and are worth considering depending on your investment timeframe and risk tolerance. InvestSMART also lists diversified ETF portfolios with a capped management fee if you prefer a managed option.
The guide includes a section explaining how the First Home Super Saver scheme works and how it can help you save for a deposit. For full details and to check whether it suits your situation, the guide is a good starting point.
The guide outlines government grants and first home buyer support programs that may be available to you. It’s designed to help you identify potential support and the steps to take, but you should check official sources for eligibility and current details.
The free guide offers practical tips to help you stay on track, including goal-setting, saving strategies and choosing the right investments for your timeframe. These everyday tips are aimed at helping first home buyers maintain momentum and avoid surprises.
InvestSMART offers a range of diversified ETF portfolios, each with a capped management fee, and provides a free statement of advice quiz to help identify which InvestSMART ETF portfolio may best suit your goals and investment timeframe. The quiz can be a helpful next step if you want personalised guidance.
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