Saving For A Home
Most of us want to own our home. It fills us with a sense of pride and achievement. But, our home also means much more to us than that. We consider our home a safe haven. A place where we can spend time with our family and friends.
However, with 10% of the value of your first house required upfront, buying your new home requires planning (Competition & Consumer Protection Commission, Sept 2020).
Traditional deposits pose a problem as our money just can’t grow fast enough to even keep up with house inflation, especially at today’s low Interest rates (2021).
Three questions you need to consider:
- Goals: how much do I need to save to afford a deposit on my desired home?.
- Timeframe: how much time do I have to let my savings grow?.
- Choice: what financial vehicles can I invest in to meet my objectives?
This Savings and Investment video was provided by Zurich Life Investments
How much money can I save?
Budgeting for savings made easier with this budget calculator provided by Zurich Life
Talk to your financial adviser, they will help you answer these questions and devise a plan specific to your goals.