Deposit & Budget Planner
Estimate how much you’ll need to save and when you could be ready to buy.
How much deposit do you need, and when?
Whether you're buying your first home, your next home or an investment property, having a savings plan makes the goal feel much more achievable. This calculator estimates how much you'll need, how long it may take to get there and how increasing your monthly savings could bring your purchase forward.
It also includes estimated upfront buying costs, so you're planning for the total amount you'll need rather than just the deposit.
This calculator includes
Frequently asked questions
How much deposit do I need?
The right deposit depends on your circumstances and the type of loan you're applying for. While many buyers aim for 20%, it's often possible to buy with less. Keep in mind you'll also need to budget for upfront costs such as stamp duty, legal fees and, in some cases, Lender's Mortgage Insurance (LMI).
What counts towards my deposit?
Depending on the lender, your deposit may include genuine savings, eligible government grants, gifted funds or equity in another property. The exact requirements vary between lenders and loan types.
Should I wait until I've saved a 20% deposit?
Not necessarily. Waiting longer may reduce your borrowing costs, but it could also mean paying higher property prices or delaying your plans. Many buyers choose to purchase with a smaller deposit if it helps them enter the market sooner. The right approach depends on your financial position and long-term goals.
How can I save a deposit faster?
Increasing your regular savings, reducing discretionary spending, receiving a financial gift or using available equity (if you already own property) can all help you reach your goal sooner. The best strategy will depend on your circumstances.
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Talk it through with Scott
These figures are a guide, not a guarantee, and they're not legal, financial, tax or credit advice. Book a free discovery call and get real numbers for your situation.