If you’re a single parent, you’re already doing a lot.
Balancing work, raising kids, managing expenses…
It’s not easy.
And when it comes to buying a home, it can feel like the odds are stacked against you.
Saving a large deposit while paying rent and covering everyday costs isn’t always realistic.
But here’s something many people don’t realise.
There are pathways designed specifically to help.
Why buying can feel out of reach
For most single parents, the biggest challenge isn’t income.
It’s the deposit.
Trying to save tens of thousands of dollars while raising a family can take years.
And during that time:
- rent continues
- living costs add up
- and property prices can move
Which is why many people feel like they’re stuck in a loop.
Pathway #1: Family Home Guarantee
One of the main pathways available is the Family Home Guarantee.
It’s a government scheme designed specifically for single parents and legal guardians.
With it, eligible buyers can:
- purchase a home with as little as a 2% deposit
- avoid paying Lenders Mortgage Insurance (LMI)
Normally, buying with such a small deposit would come with large LMI costs.
But under this scheme, the government guarantees part of the loan — which removes that expense.
For many single parents, this is what makes getting started possible.
Pathway #2: Help to Buy Scheme
There’s also another option that can suit some single parents — the Help to Buy scheme.
This is a shared equity program where the government contributes toward the purchase of your home.
With it, eligible buyers can:
- purchase a home with as little as a 2% deposit
- avoid paying Lenders Mortgage Insurance (LMI)
- the government can contribute up to 40% for a new home
- or up to 30% for an existing home
This reduces the amount you need to borrow.
Which can mean:
- lower repayments
- less pressure on your budget
- and a more manageable path into ownership
You still live in the home and build equity over time, while sharing ownership with the government.
Which option is better?
There’s no one-size-fits-all answer.
Some buyers prefer to own 100% of the property.
Others prefer lower repayments and choose a shared equity option.
It really comes down to:
- your income
- your savings
- your comfort with repayments
- and your long-term goals
The important part is knowing both options exist.
What to think about before moving forward
Before taking the next step, it’s worth asking:
- Does the repayment feel comfortable for my situation?
- Do I have enough savings to get started?
- Am I ready for the stability of owning a home?
Buying a home isn’t about stretching yourself.
It’s about finding something that feels safe and sustainable for you and your family.
The takeaway
Buying a home as a single parent can feel difficult.
But it’s not out of reach.
With the right support and the right pathway, it can be much more achievable than it first seems.
And for many families, it’s the step that creates more stability, security, and long-term opportunity.
Pre-qualify and see if you can own
