Get That Home Deposit : An Action Plan for Buying Your Home Fast

Contents......Page 6
Acknowledgments and Disclaimer......Page 10
Introduction: You can get there......Page 12
Saving money . . . like dieting?......Page 14
The rent escalator......Page 17
A great savings plan......Page 18
Where the renter is ahead......Page 19
The renter versus the buyer......Page 20
A method . . . and a reward......Page 22
Part One: Working to A Method......Page 26
1: Some principles that will work for you......Page 28
First principle: Keep it short......Page 30
SecSecond principle: Know today that you can achieve your goal goal......Page 31
Fourth principle: Allow for failure......Page 33
Fifth principle: Put it away as you go......Page 34
Sixth principle: Put it in the right place......Page 35
How much do I need to borrow?......Page 37
Monthly repayments guide......Page 39
Summary......Page 42
2: Introducing the home deposit worksheet......Page 43
Looking forward, not back......Page 44
The home deposit worksheet......Page 45
3: Put together a stash of cash......Page 51
Get your money breeding......Page 53
Summary......Page 56
4: Where should my savings go?......Page 58
What to do with debt......Page 59
The cost of borrowing......Page 60
Where to put my money?......Page 66
The core issues......Page 71
Can the bank help me to save faster?......Page 77
Should I be putting more money into superannuation?......Page 78
A lifetime financial plan......Page 79
What can I save now?......Page 84
Summary......Page 85
5: Get a job, secure a job......Page 86
Feeling secure at work in times of change......Page 88
Finding the value to your employer......Page 92
Training for more......Page 94
Summary......Page 95
Part Two: The Modules......Page 96
6: Increasing your income......Page 98
What type of job?......Page 100
Where are the jobs?......Page 105
How much could I earn?......Page 108
The part-time work module......Page 110
The holiday of your life......Page 112
The holiday job......Page 115
Update your social security entitlements......Page 119
Summary......Page 120
7: Life’s little luxuries......Page 121
A drink or an event?......Page 122
What are your luxuries......Page 125
Summary......Page 126
8: The theory of relatives......Page 127
A pause on presents......Page 131
Gift giving—reorganised......Page 132
The subsidy approach......Page 133
Moving in together......Page 137
Saving rent......Page 138
Anything . . . but not my parents!......Page 140
Summary......Page 143
9: How essential are the ‘essentials’?......Page 145
Preparing a budget......Page 147
Loans......Page 157
Transport......Page 158
Communication......Page 161
Insurance......Page 162
Superannuation......Page 163
Preservation ages......Page 164
Average life expectancies......Page 165
Waste......Page 166
Summary......Page 168
10: The price of vice......Page 169
What your vices are costing you......Page 170
Summary......Page 175
Part Three: Putting it Together......Page 176
11: Bumps in the road......Page 178
Falling off the savings wagon......Page 182
Summary......Page 183
12: Knowing the costs ahead......Page 185
Conveyancing fees......Page 186
Expert Reports......Page 189
Lender's Mortgage Insurance......Page 192
Government Taxes and Charges......Page 197
Stamp duty......Page 198
Are you eligible for stamp duty concessions?......Page 202
Other government assistance......Page 211
Property prices......Page 212
Deposit required......Page 214
Summary......Page 215
13: The last 26 weeks......Page 217
Finding your mortgage......Page 218
Mortgage questionnaire......Page 219
Last-ditch lenders......Page 221
Making comparisons......Page 222
Fixed and variable interest rates......Page 225
Choosing a property......Page 227
Buying off the plan......Page 229
Building your dream home......Page 235
Buying at auction......Page 236
Summary......Page 241
The single person......Page 243
The couple who won’t sacrifice lifestyle......Page 249
The couple with great motivation......Page 254
The lower income couple......Page 260
End note......Page 266
Resources, reading and contacts......Page 268
Glossary......Page 278
Index......Page 290