A deposit is just one cost associated with buying a house. Others include:
Loan application fees
Stamp duty
Legal costs
Insurance – including mortgage cover, home buildings and contents
Inspection fees – including building inspection, pest and termite inspections
Utility connections – water, electricity, gas, telephone
Council rates
By setting realistic goals, cutting back on unnecessary costs and keeping to a budget, saving for your first home doesn’t have to be an impossible task.
If you find that you dont have enough saved there are other options such as gifted funds and some institutions will even let you use borrowed funds (personal loans). With the new Bonus Grant of $4000 in South Australia this will help you get into your home sooner.