How to save a deposit: house-sitting

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One of the toughest parts of realising the dream of owning a home is saving for a deposit. The options for obtaining a Darwin home loan seem pretty dismal – subsisting on a diet of beans on toast, never socialising, moving back in with the parents – and are almost enough to prompt a commitment to a life of renting.

To help the savings grow without resorting to these options, many people house-sit while squirrelling away funds.

Dave and Esther Muller, a couple in their mid-20s, have saved almost $25,000 they would have used on bills and rent by house-sitting. It was an especially good financial decision when they were living on a single wage, with Dave working at the local bike shop as Esther finished her final year at university.

Before they started house-sitting, Dave and Esther were renting a small apartment, and they estimate they have saved $22,000 in rent and approximately $2000 in bills by house-sitting, these funds were intended for a Darwin home loan.

Of course, it is much easier if you have flexibility in where you live and for how long, but the real key is an ambition to save.

“Young Australians can adapt easily to new experiences and locations, making them ideal candidates for house-sitting. They usually have few belongings to lug around, so it’s easier to deal with the transition between house-sits. It’s also a great way to trial different areas before committing to buying a home or apartment.”

Of course, you may not have all the comforts of home, but house-sitting can even mean seeing a bit of the world while saving a deposit.

For more information on a Darwin home loan from a Darwin mortgage broker call today on 0447 499 794.


6 Steps to Fast Track the purchase of your First Home

Buying your first home is an exciting process.

Having the correct information will help you to achieve your First Home.

You will have questions such as:

What loan types are available?
Which lender do I use to get my loan?
How much can I borrow?
What will my repayments be?
Can I afford it?
What if I don’t have a deposit?

All these questions are valid and can be answered by downloading the free guide here.

My name is Nick Kirlew and I am a professional Darwin based mortgage broker here to help you achieve your goals and dreams.

The guide is to make the process of buying your first home as stress free as possible.

When you download this free guide it will help you begin this adventure by taking you through the 6 steps to fast track the purchase of your first home.

Nick Kirlew Mortgage Broker

First Home Buyers Guide Video - Episode 1

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Contact Nick Kirlew Mortgage Broker on 0447 499 794.

Darwin, Refinance, Home Loans, First Home Buyer, Mortgage Brokers.