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You can use voluntary super contributions (up to $50,000) to save for your deposit more tax-effectively than a standard savings account. 3. Budget for the "Hidden" Costs
The Australian Government 5% Deposit Scheme now has unlimited places and has removed income caps, allowing you to buy with just a 5% deposit while the government guarantees the rest.
Here is a step-by-step guide to navigating your first purchase, from saving that first dollar to picking up the keys.
Pay down high-interest credit cards or car loans. Lenders calculate your borrowing power based on your total credit limits, even if the balance is zero.
Cancel unused subscriptions and reduce discretionary spending like frequent dining out.
