--- title: 6 Tips for Saving Your House Deposit description: Saving for a house deposit remains one of the biggest hurdles to entering the property market for many South Australians. image: https://blog.cedarwoods.com.au/hubfs/1200x800%20sa%20blog%20.jpg --- # 6 Tips for Saving Your House Deposit Written by [Cedar Woods ](https://blog.cedarwoods.com.au/adelaide-and-sa/author/cedar-woods) Jun 20, 2025 9:11:49 AM Share post ![Your guide to buying an investment property](https://blog.cedarwoods.com.au/hs-fs/hubfs/Projects/CW_Corporate/Images/CWP%20Investor%20eBook_CTA%20Website%201176x1036.jpg?width=345&name=CWP%20Investor%20eBook_CTA%20Website%201176x1036.jpg) ## Your guide to buying an investment property Whether you are a first-time investor wanting to get started or you are hoping to expand your property portfolio, you have come to the right place. We have put together this handy investors’ guide to help you make an informed decision. [![Get the guide](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/7794817/9ea6f2c1-e8a7-4d27-b000-d581599340d6.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/7794817/9ea6f2c1-e8a7-4d27-b000-d581599340d6) ![Featured photo of 6 Tips for Saving Your House Deposit](https://blog.cedarwoods.com.au/hs-fs/hubfs/1200x800%20sa%20blog%20.jpg?width=345&name=1200x800%20sa%20blog%20.jpg) ###### Amongst the excitement of planning for your first home, the amount needed to get your foot in the door can seem daunting. Saving for a house deposit remains one of the biggest hurdles to entering the property market for many South Australians.  Here are our top 6 tips to help you tackle the deposit saving challenge and get closer to your dream of home ownership. **1. Do your research** Before you get started, gain a clear picture of your current situation and future goals.   For example, it is recommended you consider the following:  - Recent sales prices for the types of properties and suburbs you are interested in.   - Broadening your search to include suburbs outside of your preferred area, or different types of properties available, such as townhouses, apartments and off the plan products.  - The must haves and nice to haves for your future home. - Any current savings you have as a starting point.   **2. Engage an expert** After some initial research, it is a good idea to meet with a mortgage broker to help you determine your borrowing power and the home loan products that might be suitable for you.    While a 20% deposit is often considered ideal giving you access to a broader range of home loan products and helping you avoid paying Lenders Mortgage Insurance (LMI), there are also low deposit home loan options available. At Cedar Woods, deposit requirements vary depending on the development and the type of property you're purchasing. For instance, at Fletcher’s Slip, you can secure an off the plan townhouse with just a $10,000 deposit at contract signing, followed by progress payments during construction. Meanwhile, at Glenside purchasing an off the plan apartment requires a 10% deposit at contract signing, with the remaining balance due at settlement. Your broker can work with you to find the right solutions for your unique circumstances, explain how different loans work and their features, and support you throughout the process from application through to settlement. **3. Get a helping hand** To help you get started on your property journey sooner, you may be eligible for Government grants and incentives. If you're a first home buyer, you may be eligible for a range of Government grants and incentives that can significantly reduce your upfront costs. For example, when purchasing an off-the-plan property, such as a modern townhouse at Fletcher’s Slip, you could access the [First Home Owner Grant](https://www.revenuesa.sa.gov.au/FirstHomeOwnerGrant) of up to $15,000, along with potential [stamp duty exemptions](https://www.revenuesa.sa.gov.au/stamp-duty-land/first-home-buyer-relief). These savings can make a real difference in turning your dream of home ownership into a reality. We have put together a [handy eBook ](https://resources.cedarwoods.com.au/financing-your-first-home-guide)especially for first home buyers with everything you need to know about financing your first home. **4. Set SMART goals** Research shows that having a specific goal to focus on increases our chances of success, and writing it down boosts our chances by more than 30 per cent*.   When setting your money goals, it may help to follow the SMART goals theory – ensuring your goal is Specific, Measurable, Achievable, Relevant and Time-bound.   To determine your SMART deposit savings goal, remember to factor in not only the home deposit but also the associated costs of purchasing a house, which may include stamp duty and moving costs.  **5. Get budget savvy** To boost your savings potential, review your budget and get ruthless. Look for anything that you may be able to cut from your budget, as even small changes can add up over time.  Maybe you have six different streaming services you don’t need, a barely used gym membership, or can reduce your takeaway meals.   Rather than looking at it as going without, remember the bigger picture. Budgeting will not only fast-track your deposit savings, it will also set you up to manage your home loan repayments and costs of home ownership in the future.   **6. Bring your bills down** Look for easy ways to reduce your bills, for example:  - Buying on-special or bulk items at the grocery store.   - Saving energy by turning off appliances when not in use and reducing your heating and air-conditioning use where possible.  - Finding opportunities to reduce your car use, such as walking or cycling.  Saving your home deposit is a big task but keeping focused and taking steps towards your goal are key to long-term success.   Eager to research more about buying or building your first home? Download our handy [First Home Buyer eBook](https://resources.cedarwoods.com.au/first-home-buyers-guide-to-building-or-buying-a-new-home) which will help you understand what is next. ** Matthews, G. (2015). Goal Research Summary. Paper presented at the 9th Annual International Conference of the Psychology Research Unit of Athens Institute for Education and Research (ATINER), Athens, Greece. * Share post ![cw_module_research_mode_v2](https://blog.cedarwoods.com.au/hs-fs/hubfs/Cedar%20Woods%20Theme/images/cw_module_research_mode_v2.jpg?width=1176&height=1016&name=cw_module_research_mode_v2.jpg) ## Sign up to get the latest news, stories and updates from Cedar Woods. ## Looking for more? See related articles... [![Blog Overview-FHB](https://blog.cedarwoods.com.au/hs-fs/hubfs/Projects/FLET_FletchersSlip/Imagery/Blog/Blog%20Overview-FHB.jpg?width=345&name=Blog%20Overview-FHB.jpg) ](https://blog.cedarwoods.com.au/fletchers-slip/why-fletchers-slip-is-an-ideal-location-for-first-home-buyers) ## Why Fletcher’s Slip is an ideal location for First Home Buyers Ideal for first home buyers, Fletcher’s Slip is a unique, waterfront address. The perfect place for those looking for a brand-new home in a place that has it all. It doesn’t get much better than being nestled between historic Port Adelaide and seaside Semaphore. Both are established and much-loved... [ Read more ](https://blog.cedarwoods.com.au/fletchers-slip/why-fletchers-slip-is-an-ideal-location-for-first-home-buyers) [![](https://blog.cedarwoods.com.au/hs-fs/hubfs/blog%208.jpg?width=345&name=blog%208.jpg) ](https://blog.cedarwoods.com.au/adelaide-and-sa/a-guide-to-glenside-and-port-adelaide) ## A Guide to Glenside and Port Adelaide Cedar Woods in South Australia has two major projects – Fletcher’s Slip at Port Adelaide and Glenside. These two developments offer a unique combination of modern and convenient living, Glenside is surrounded by lush greenery, while Fletcher’s Slip at Port Adelaide offers a historic harbourside... [ Read more ](https://blog.cedarwoods.com.au/adelaide-and-sa/a-guide-to-glenside-and-port-adelaide) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Cedar Woods", "url" : "https://blog.cedarwoods.com.au/adelaide-and-sa/author/cedar-woods" }, "dateModified" : "2026-01-05T06:15:39.407Z", "datePublished" : "2025-06-20T01:11:49.000Z", "headline" : "6 Tips for Saving Your House Deposit", "image" : [ "https://blog.cedarwoods.com.au/hubfs/1200x800%20sa%20blog%20.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.cedarwoods.com.au/adelaide-and-sa/6-tips-for-saving-your-house-deposit", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.cedarwoods.com.au/hubfs/Admin/Logo/cedar-woods-logo.svg" }, "name" : "Cedar Woods Properties Limited" } } ```