How did you save your first deposit(s)

Saved my first deposit whilst backpacking over a decade ago :) landed a semi decent job in London when the exchange rate was good.

Cheers

Jamie
 
I was working in a telstra call centre earning the princely sum of 27k pa. I took every drop of overtime on offer and also let people give me their shifts if they need to arrange a day off. After 18 months I saved up 22k and bought a 200k IP in Clarkson WA (this was back before there was a train station there and road hadnt been extended up there either)
 
Slogged it out at work for two years, maximising my income wherever I could, and then set out a disciplined saving plan that I stuck to religiously. I still lived life well but was extremely frugal with unnecessary spending. Thankfully deposits 3 & 4 will come through equity.

N.
 
Waaaay back in 1987 ..I had a huge hissey fit when our rent was to rise from $50 a week to $55 ( for a 2brm house) and announced to my ex husband that we were buying an onsite caravan in a nearby park for the princely sum of $2000 (of which we borrowed $1000 as a personal loan)

We lived in that 20' van with an aluminium annexe (with 2 babies) for just under 18 months and bought our first house( dump) for $55,000 with a full 10% deposit... And sold the van for $2500

That started us in a buy/reno/sell cycle that saw us mortgage free in approx 6 years.
 
Just put 90% of every pay packet away for 2 years until I had enough. Took an extra 6 months because the 2010 mini-boom was happening.
 
As both of us were working, we lived on one wages and used other towards properties.

But never managed to 'save' a deposit because we bought before we saved. Had just 3k (from tax return) when the first offer got accepted. We borrowed from friends and relatives and then paid them back using savings and equity. Since then used all our savings towards renovations and used equity to buy further.

What we would have saved if we didn't buy IPs should be equivalent to the money we used to buy and renovate the current PPOR. So just one deposit.
 
Used to work a second job as a strength coach for a professional football team. They only paid P/T support staff once a year - forced savings!

First year, went into a managed fund. With second year payment, hey presto, a deposit for a house!

Full time job was initially very low paying....
 
Worked hard to start. Then accelerated it by playing poker.

Best hand is being good at math and getting people! And sitting for hours on end...
 
No savings.

As soon as I finished uni, found a unit within the first month and bought it.
5% deposit bond, parents happy to be guarantors.
Bought my first unit for $280,000 with $0 down payment for a loan of $280,000.
 
Sold a car and had 5k cash.

My Mum said go see this person (a financial planner).

He said "invest it in a geared managed fund that's just starting up using dollar cost averaging strategy on top of your 5k down".

I said "ok".

Initial units where $1 and peaked at close to $4 a few years later.

Saw an MB to arrange finance for a property purchase and he asked "do you have a deposit?" I said "no but I have a managed fund thingy, will that do"?

He said "yes!"

Bought a 1 bed unit using FHOG as 5% deposit that covered deposit and fees with out having to use any of the managed fund.

Also found out I could get another 2k grant from a builder mate which I used to do a cosmetic reno after moving in.

Had to pinch myself after moving in and thought "is this really happening" :p ha ha

That was in July 2000.
 
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