Property story: 36yr old single male using the First Home Super Saver Scheme to boost his deposit

Today we’re hearing from a 36 year old single male who bought his first home pre-market for $985,000.00 in Windsor, Victoria. While he wasn’t always on a great income, he worked his way up the ranks and was able to boost his deposit using the First Home Super Saver Scheme.

Though he had a partner during the process of buying his first home, it was a new relationship and not considered a de facto one. The work very much rested on his own shoulders, and he talks about the ups and downs of his property journey, including the confronting procedure of setting up a financial agreement with his partner.

Working in PR and communications, he was initially earning $36,000.00 per year before progressing to a solid income in 2016. He learnt how to be financially savvy and eventually squirrelled away $200,000.00 to put towards his first home.

Embarking on the property buying journey can quickly turn into a full-time job, especially as a first home buyer. So he decided to engage a buyers advocate, who became a vital source of support throughout the process. He speaks on the importance of building a team around you to lean on, which can consist of anyone you trust - your mortgage broker, buyers advocate, friends or family members.

He runs us through the process of using his superannuation to bolster his savings, and how this helped him achieve the amount of $215,000.00 for a deposit. Knowing that a mortgage broker plays a critical part of buying your first home, he explains his process for finding one that felt right for him and provided him a sense of safety.

While determining what you want in a home is a logical process, many different feelings can come into play. He encourages us to value an emotional connection with a property just as much as a rational one, and to ensure it makes the list when you’re developing a brief for buying your first home.

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