5 Ways to fund your deposit


1. Work Hard and SAVE The old favourite, work hard and save as much as possible of your take-home pay. Minimise the luxury expenses and yes having all Netflix, Stan, Kayo, HAYU, Amazon Prime, Spotify Premium accounts under your name may be a little bit excessive so why not reduce the number of subscriptions to a select few


2. Move back home Although some don't have this luxury, many have welcoming families that would be happy to see their kids return home albeit for a short period while they save up for a deposit.

Sucking up your pride and forgoing that bachelor pad for 18mths can save you anywhere between $20,000 and $30,000 in rent alone.


Oh, and did i mention the home cooked dinners, reliable hot water and high speed internet???


3. Buy with a partner Combining forces is a quick way to halve the time required to save. Two incomes are better than one! Speak to your brother, sister, boyfriend, girlfriend or even your parents


4. Get out there and HUSTLE Works tough but in many cases we all have the capacity to take on a little bit of additional work. Even if it means saying yes to that dreaded overtime, picking up some weekend work at a bar or browsing Airtasker for jobs you may be able to pick up... every dollar counts!


5. Bank of Mum & Dad rapidly becoming one of Australia's biggest lenders, the Bank of Mum and Dad can play as massive role in getting you into the property market in one of two ways.

They can either gift you the deposit or if they have sufficient equity in the family home (or other property) they can act as a guarantor on your loan. What that basically means is that the bank will loan you the full amount to purchase a property but will hold your parents property as additn


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