How to Build Your House Deposit: Simple Tips to Boost Your Savings
Ready to take the first step towards owning your dream home? Building a solid house deposit doesn’t have to be overwhelming. Here’s the scoop on how to make it happen:
Set a Savings Goal: Figure out how much you’ll need. In New Zealand, deposits typically range from 10% to 20% of the purchase price.
Track Your Spending: Small changes can add up. Cut unnecessary costs like subscriptions, takeaway coffees, or unused memberships. Put the savings straight into your deposit fund.
Create a Budget: Map out your income vs. expenses, and commit to saving a specific amount each payday.
Automate Your Savings: Set up an automatic transfer into a dedicated deposit account. You won’t miss the money if you don’t see it!
Boost Your Income: Consider side hustles, freelancing, or selling items you no longer need. Every bit helps.
Use KiwiSaver: If you’re a first-home buyer, check if you’re eligible to use your KiwiSaver contributions for your deposit.
Building a deposit takes time, but with smart planning and steady savings, you’ll be on track to homeownership in no time! #Goals