Posted in home buying

Buy Now, Pay Later (BNPL) services like Afterpay and Zip have become hugely popular in Australia. They make shopping easy by splitting purchases into smaller, interest-free instalments provided you pay on time.It’s no wonder BNPL is booming. In fact, the value of BNPL transactions in Australia is expected to grow from $17 billion in 2023 to $30.71 billion by 2029.But if you’re planning to buy a home, BNPL could impact your borrowing power. Recent changes to BNPL regulations mean your spen...

Buying your first home is an unforgettable milestone, but for many first-home buyers, saving a deposit is often the biggest challenge. If you’re planning to enter the property market in 2026, having a clear savings plan can help you move toward your goal with confidence.Here are simple, practical budgeting steps to help you build your deposit.1) Set a clear savings goalStart by working out how much you need to save. Look at recent sales in the suburbs you’re interested in, then estim...

Buying a home is a big dream for many young Australians, but right now, it can feel out of reach. Rising living costs, soaring property prices, and slow wage growth have made saving for a deposit harder than ever.Research from Deloitte Access Economics paints a clear picture:Average home prices jumped 67% in the decade to 2023 (from $548,000 to $915,000).Average incomes for 21–34-year-olds grew just 20% in the same period.This gap means major life milestones like moving out or starting a fa...

In today’s competitive property market, more first-home buyers are teaming up with friends or family to purchase property. Recent NAB research shows joint mortgages have surged by over 33% in just one year, with the biggest increases in Victoria, South Australia, and NSW.If you’re considering co-buying, FinancePath can help you assess whether this option suits your personal and financial circumstances and guide you through the process with expert advice.BOOK NOWPros of co-buying a home1) ...

BackgroundChris, a long-term FinancePath client of over 15 years, first approached us at age 28. At the time, Chris had a reasonably good-paying job early in his career but only $10,000 in savings. Renting in inner-city Melbourne and travelling overseas meant saving for a deposit felt impossible — especially 15 years ago when government support for first-home buyers was limited.“I realised that I probably needed to start to plan for the future.”The ChallengeThe biggest hurdle was raisin...