6 Reasons Savvy WA buyers reconsider the ‘Save for Yay’ rule

For years, the first home buyers in WA was told that the only way to the market was to save a deposit of 20% – often almost a decade of scrimp and sacrifices.

But for smart buyers, those “store forever” no longer keeps old rule true.

Nowadays there are smarter financial routes that can help the first home buyers to enter the market sooner.

That is why Homebuyers Center WA, together with Resolve financinghave the First home hacks Campaign – Making the road to homeowner feels less daunting and a lot performer.

Breakdown misconceptions

Scott Watson, sales manager at Homebuyers Center WA, says that many buyers still believe that saving a full 20% deposit is the only way to get ahead.

“Many potential first home buyers are of the opinion that they should save for years to have a traditional deposit of 20%,” says Mr. Watson.

“However, first buyers can come to their own house with only a deposit of 2%* if they are eligible.”

And the data support it. According to the Australian Bureau of Statistics, In January 2024, First-Home Buyers actually stood 39.5% of all new loans for the owners of WA – prove that they are far from a peripheral group in the current market.

House buyers often expect to have to save a full 20% down payment, but this is not always the case.

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6 emarter finance options for first home buyers

Let’s really be – facts and figures can feel overwhelming, especially if you debate whether you can afford to buy your second collection coffee for the day.

That is why the first Home Hacks campaign revolves around practical, easy to understand solutions.

Here are some of the most popular ‘hacks’ buyers who now use:

• Low deposit loans – In some cases, eligible buyers may only need only 2-5% down payment*.

• Arrangements supported by the government – Like the first home guarantee, which lowers the deposit nuisance.

• Garant Loans – Where a family member uses his equity to help secure your finances.

• Buy with friends or family – Pooling of resources can bring you to the market faster.

• Mama and Dad’s bank – Family contributions are still one of the strongest paths.

• My home plan ** – A program designed to help you save smarter, with structured support from financial specialists.

Each path is about giving first home buyers more confidence, clarity and choice – so you know that there is more than one way.

Homebuyers Center WA’s first Home Hacks campaign informs buyers about the ways they can get on the market.

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Real buyers, real support

It’s not just theory – these options help real people today.

Amy, who recently built her first home at Homebuyers Center, says that the My Home Plan program has motivated it and kept it on the right track.

“My home plan helped me to stay on goal to get my savings and gave me something to look forward to.

“My home plan was an easy, smooth and stress [process]”She says.

For buyers such as Amy, the right financial option is not just about unlocking a house – it is about unlocking a lifestyle.

This can mean that it is closer to family living, becoming a member of a supporting community or getting started with a dream building earlier.

“Having access to construction financing experts in -house gives our customers confidence that our team are the experts at every point in their journey in all the things that are finances, country and home design,” says Watson.

With the right advice and a few smart hacks, possessing your first home can be closer than you think.

Disclaimers

*EXERINITIZE TO STAPHING STAY AND/OR Federal Government. Consult the government websites for more information: https://www.housingaustralia.gov.au/home-guarantee-scheme

Traffic conditions apply. Financial solutions solve PTY LTD Trading AS Resolve Finance ABN 65 079 545 378, Australian credit permit no. 385487.

** My home plan is managed by solution for financial solutions PTY LTD Trading as a solution finance. ABN 65 079 545 378. Visit for more information My home plan – Solve the financing Australian credit permit no. 385487. General terms and conditions apply. My application costs for home plan of $ 499 are non-residual.