--- title: Practical Tips to Help Save Your Home Deposit Sooner description: If you're a first-time home buyer, here's the best tips on how to save for a house deposit. Implement these tips to start saving for the your first home! image: https://blog.swanbuild.com.au/hubfs/Images%20/shutterstock_507750145.jpg --- - [Follow on Facebook](https://www.facebook.com/swanbuildhomes) [Follow on Instagram](https://www.instagram.com/swanbuild_homes) - #### Leading builders of Modular Homes in NSW, VIC, & SA - - [1800 008 024 1800 008 024](tel:1800%20008%20024) - #### Leading builders of Modular Homes in NSW, VIC, & SA [![Swanbuild](https://blog.swanbuild.com.au/hs-fs/hubfs/Swanbuild_Primary%20Brandmark_Mono_RGB-1.png?width=190&height=112&name=Swanbuild_Primary%20Brandmark_Mono_RGB-1.png) ![Swanbuild](https://blog.swanbuild.com.au/hs-fs/hubfs/Swanbuild_Primary%20Brandmark_Mono_RGB-1.png?width=190&height=112&name=Swanbuild_Primary%20Brandmark_Mono_RGB-1.png)](https://www.swanbuild.com.au/) - Menu - [Home](https://www.swanbuild.com.au/) - [Home Designs](https://www.swanbuild.com.au/building-plans/) - [Plans](https://www.swanbuild.com.au/building-plans/) - [Dual Occupancy](https://www.swanbuild.com.au/dual-occupancy-designs/) - [Inclusions Packages](https://www.swanbuild.com.au/inclusions-packages/) - [Sustainable Homes](https://www.swanbuild.com.au/sustainable-homes-net-zero/) - [Built to Lock Up](https://www.swanbuild.com.au/built-to-lock-up/) - [Buy a Display Home](https://www.swanbuild.com.au/display-homes-for-sale/) - Building With Us - [Our Process](https://www.swanbuild.com.au/our-process/) - [Pricing Made Easy](https://www.swanbuild.com.au/pricing-made-easy/) - [Modular Construction](https://www.swanbuild.com.au/modular-homes/) - [Quality Guarantee](https://www.swanbuild.com.au/quality-guarantee/) - [Testimonials](https://www.swanbuild.com.au/testimonials/) - [About Us](https://www.swanbuild.com.au/why-swanbuild/) - [Why Swanbuild](https://www.swanbuild.com.au/why-swanbuild/) - [Our Team](https://www.swanbuild.com.au/our-team/) - [Our Vision, Mission and Values](https://www.swanbuild.com.au/our-vision-mission-and-values/) - [FAQs](https://www.swanbuild.com.au/faqs/) - Inspiration - [Blog](https://blog.swanbuild.com.au) - [Virtual Tours](https://www.swanbuild.com.au/virtual-tour/) - [Videos](https://www.swanbuild.com.au/videos/) - [Internal Photos](https://www.swanbuild.com.au/internal-photos/) - [External Photos](https://www.swanbuild.com.au/external-photos/) - [Design Guide](https://www.swanbuild.com.au/design-guide/) - Commercial - [What We Build](https://www.swanbuild.com.au/what-we-build/) - [Why Build Modular](https://www.swanbuild.com.au/why-build-modular/) - [Our Projects](https://www.swanbuild.com.au/our-projects/) - [Contact](https://www.swanbuild.com.au/contact/) - [Book a Consultation](https://homes.swanbuild.com.au/consultation-request) - [Visit Our Display Homes](https://homes.swanbuild.com.au/display-visit) - [![Download Magazine](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/2500450/interactive-375802331590.png)](https://blog.swanbuild.com.au/hs/cta/wi/redirect?encryptedPayload=AVxigLKufc6hS0RSJNqSXTOukxQRMw9I4tdAHrAgliMP1zfz9qXZi%2Fk0w%2BK0BimY47ThjkgBieUU7JzsPV1Nc6ub8Kht%2BmkQP0RWDSSdxkio%2FPqHnkGXgQ2rAvyii68zh4RAyBWX15YwYyxFzHvugTL0HKvcFR2x94%2BUSSw%2B%2Bz21YA6V6sEPGWLHxNdrjHsoQHOwdMnn9eRYjBYT0IGYnsjrBQY%3D&webInteractiveContentId=375802331590&portalId=2500450) - - Search for: - - Search for: \\ # Practical Tips to Help Save Your Home Deposit Sooner [Swanbuild](https://blog.swanbuild.com.au/author/swanbuild) 5, April, 2017 ![](https://blog.swanbuild.com.au/hubfs/Images%20/shutterstock_507750145.jpg) If you're a first-time home buyer, the prospect of saving up for a house deposit can feel overwhelming. Saving enough money for a deposit may not be easy however with the right strategy it is most definitely achievable. Implement a few of these tips to start saving for your new home! ##### 1. Determine How Much You Can Afford to Put Away Each Week It might seem obvious, but working out the maximum amount you can afford to set aside is an important first step. If possible, start with 10% of your income and work up from there. Don’t be disheartened if it is not a huge amount, after all something is better than nothing and you’ll be surprised at how quickly it adds up over time! ##### 2. Set Aside Savings as Soon as You Get Paid Whatever you’re able to put aside, transfer the money into a savings account immediately after your pay hits your bank account. You are less likely to spend your savings if it's separated from the rest of your money from the moment you have access to it.    ![shutterstock_293606135.jpg](https://blog.swanbuild.com.au/hs-fs/hubfs/Images%20/shutterstock_293606135.jpg?width=640&name=shutterstock_293606135.jpg) ##### 3. Create a No-Frills Budget and Stick To It When you're saving for a house deposit, you may have to forgo some luxuries for a little while. Create a budget that cuts out the things you don't need like expensive dinners or new clothes every month. Once you've created your budget, you can help yourself stick to it by using cash. For example, let's say you've budgeted $100 for groceries for one pay period. Take that $100 out of your account and put it in an envelope labelled "groceries." Having a set amount available will make you think twice before over-spending.   ##### 4. Open a High-Yield Savings Account You can earn extra interest by shopping around for the best savings accounts to suit your situation. Some banks offer additional incentives and bonuses for keeping a certain balance or depositing a fixed amount every month. In the beginning, earning 1-3% interest may not seem like much however as your savings grows so too will the free money you earn in interest! ![shutterstock_507750145.jpg](https://blog.swanbuild.com.au/hs-fs/hubfs/Images%20/shutterstock_507750145.jpg?width=640&name=shutterstock_507750145.jpg) ##### 5. Consider Location Incentives Some geographic areas such as regional Victoria offer substantial benefits for first-time homebuyers. The Victorian regional government just announced that they will be doubling their [grant for first-time home buyers](http://www.news.com.au/finance/real-estate/buying/first-homeowner-grant-to-double-in-regional-victoria/news-story/86f219e7a650c9d5c93b639a642402d5) from $10,000 to $20,000 for people building in regional Victoria. By considering location, you can get a big boost from the first home buyers grant which can help expedite the goal of owning your own home. As with any long-term goal, it's easy to become discouraged and be tempted to give up. Remember the end reward: a house to call your own. Visualise your future home when you're feeling frustrated. Imagine painting the walls your favourite colour. Daydream about planting flowers in the front yard in the spring. As long as you keep your aspirations reasonable and grounded in reality, remembering the goal can help you through the difficult period of saving. ---   [Tips](https://blog.swanbuild.com.au/topic/tips) ## Related Posts ### [22, August, 2016 How to Help Your Pet Settle into Your New Home](https://blog.swanbuild.com.au/lifestyle/help-pet-settle-new-home) ### [22, June, 2026 Supporting Homeowners at Every Stage of Life ](https://blog.swanbuild.com.au/supporting-homeowners-at-every-stage-of-life) ### [13, October, 2017 Making Your Home Your Own: Interior Design and Decorating Tips](https://blog.swanbuild.com.au/making-your-home-your-own) ![Accreditation logos 2025 9001](https://blog.swanbuild.com.au/hs-fs/hubfs/Accreditation%20logos%202025%209001.png?width=83&height=160&name=Accreditation%20logos%202025%209001.png) ![Accreditation logos 2025 Green 14001](https://blog.swanbuild.com.au/hs-fs/hubfs/Accreditation%20logos%202025%20Green%2014001.png?width=80&height=160&name=Accreditation%20logos%202025%20Green%2014001.png) ![Accreditation logos 2025 Yellow 45001](https://blog.swanbuild.com.au/hs-fs/hubfs/Accreditation%20logos%202025%20Yellow%2045001.png?width=79&height=160&name=Accreditation%20logos%202025%20Yellow%2045001.png) Accreditations ISO 9001:2015 Quality Management Systems ISO 14001:2015: Environmental Management System ISO 45001:2018 Occupational Health and Safety Management Systems Building License # VIC Domestic: CDB-U 49079 VIC Commercial: CCB-U 62548 NSW: 260670C SA: BLD264723 Contact Details: Swan Hill: 210-214 Karinie St Swan Hill Victoria 3585 Bendigo: 45 Fairview Rd Kangaroo Flat Victoria, 3555 Phone: [**1800 008 024**](tel:1800%20008%20024) [Follow on Facebook](https://www.facebook.com/swanbuildhomes) [Follow on Instagram](https://www.instagram.com/swanbuild_homes) [Follow on Linkedin](https://www.linkedin.com/company/swanbuild) [Follow on Youtube](https://www.youtube.com/channel/UCmDDRMUEn1A-jsNOplgoetQ) Email: [**sales@swanbuild.com.au**](mailto:sales@swanbuild.com.au) Hours: Monday - Friday: 8am-4:30pm [FURTHER ENQUIRIES](https://www.swanbuild.com.au/contact/) Quicklinks - [Virtual Tour](https://www.swanbuild.com.au/virtual-tour/) - [Our Story](https://www.swanbuild.com.au/our-story/) - [Commercial Buildings](https://www.swanbuild.com.au/commercial-buildings/) - [Internal Photos](https://www.swanbuild.com.au/internal-photos/) - [External Photos](https://www.swanbuild.com.au/external-photos/) Copyright 2021 © Swanbuild