When people hear they might be able to buy a home with less than $15K saved…
The reaction is usually the same.
“Sounds too good to be true.”
And honestly — we get it.
Because most people have been told they need tens of thousands just to get started.
But here’s the truth.
It’s not too good to be true.
It’s just not well understood.
Why most people think they need $50K–$60K+
Let’s say you’re looking at a $600K home.
If you walk into a bank, they’ll often tell you to come back with around:
$50K–$60K upfront
That usually includes:
- a deposit
- Lenders Mortgage Insurance (LMI)
- stamp duty
- legal costs
And just like that…
buying a home can feel out of reach.
Even if you can comfortably afford the repayments.
The part most buyers don’t realise
That estimate assumes you’re doing it the “standard” way.
But most first home buyers don’t actually buy that way anymore.
There are ways to reduce — or even remove — some of those upfront costs.
And that’s where things start to shift.
How the big costs get reduced
One of the biggest changes comes from the Home Guarantee Scheme.
If you’re eligible, it allows you to:
- buy with a smaller deposit
- avoid Lenders Mortgage Insurance
LMI alone can cost $20K–$25K+.
So removing that makes a huge difference straight away.
On top of that, many buyers qualify for:
- stamp duty concessions (saving $10K–$30K+)
- or the First Home Owner Grant (often $10K–$30K for new homes)
These aren’t small savings — they can dramatically reduce your upfront costs.
What if you don’t want the full loan?
For some buyers, it’s not just about the deposit.
It’s about the size of the loan itself.
That’s where the Help to Buy scheme can come in.
With this option:
- the government can contribute up to 40% for a new home
- or up to 30% for an existing home
This means:
- you borrow less
- your repayments are lower
- and getting started can feel more manageable
You still live in the home and build equity — just with shared ownership.
For buyers worried about affordability, this can completely change the numbers.
How we help close the gap
On top of government support, this is where we add another layer.
We offer a $10K Deposit Boost™ to eligible buyers.
It’s a gift — not a loan.
Made possible through our build network.
When combined with everything else available…
it can be the final piece that gets you over the line.
So how does $60K become ~$15K?
Here’s a simplified example:
Starting point (standard approach):
$50K–$60K needed upfront
Now apply:
- No LMI → –$20K to $25K
- Stamp duty concessions → –$10K to $30K
- First Home Owner Grant → –$10K+
- MWC Deposit Boost™ → –$10K
Suddenly…
Your required savings can drop significantly
In some cases, to around $15K
Exact numbers vary depending on your situation, location, and eligibility.
But this is where most buyers have their “wait… what?” moment.
The takeaway
Most buyers don’t struggle because they can’t afford a home.
They struggle because the upfront costs feel too high.
But when you understand what’s available…
that gap can shrink faster than you expect.
The question isn’t:
“Is this too good to be true?”
It’s:
“What would this actually look like for me?”
Pre-qualify and see if you can own
