6 reasons why WA buyers should rethink the ‘save for years’ rule
For years, first homebuyers in WA were told the only way into the market was to save a 20% deposit — often close to a decade of scrimping and sacrificing.
But, for smart buyers, that “save forever” old rule doesn’t hold true anymore.
These days, there are smarter finance pathways that could help first homebuyers step into the market sooner.
That’s together with Resolve Finance, we have launched our First Home Hacks campaign – making the road to homeownership feel less daunting and a whole lot more doable.
Breaking down misconceptions
Many buyers still believe saving a full 20% deposit is the only way forward, but Sales Manager, Scott Watson says you should look options could be available.
“Many potential first homebuyers believe they need to save for years to have a traditional 20% deposit,” Mr Watson says.
“However, first-home buyers could get into their own home with as little as a 2% deposit* if they’re eligible.”
And the data backs it up. According to the Australian Bureau of Statistics, first-home buyers actually made up 39.5% of all new owner-occupier loans in WA in January 2024 – proving they’re far from a fringe group in today’s market~.
6 smarter finance options for first homebuyers
Let’s be real – facts and figures can feel overwhelming, especially when you’re debating whether you can afford to buy your second takeaway coffee for the day.
That’s why First Home Hacks is all about practical, easy-to-grasp solutions.
Here are some of the most popular “hacks” buyers are using right now:
- Low-deposit loans — in some cases, eligible buyers may only need as little as 2–5% deposit*.
- Government-backed schemes — such as the First Home Guarantee, which lowers the deposit hurdle.
- Guarantor loans — where a family member uses their equity to help secure your finance.
- Buying with friends or family — pooling resources can get you into the market faster.
- The Bank of Mum and Dad — family contributions are still one of the strongest pathways.
- My Home Plan** — a program designed to help you save smarter, with structured support from finance specialists.
Each pathway is about giving first homebuyers more confidence, clarity and choice – so you know there’s more than one way in.
Real buyers, real support
It’s not just theory – these options are helping real people today.
Amy, who recently built her first home with Homebuyers Centre, says the My Home Plan program kept her motivated and on track.
“My Home Plan helped me stay on target to meet my savings and gave me something to look forward to.
“My Home Plan was an easy, smooth and stress-less [process],” she says.
For buyers like Amy, the right finance option isn’t just about unlocking a house — it’s about unlocking a lifestyle.
That might mean living closer to family, joining a supportive community or getting started on a dream build sooner.
With access to in-house finance experts in Resolve Finance & New Homes Consultants, you can have confidence that at every point in the journey, our team of experts are here with all things finance, land & home design.
With the right advice and a few smart hacks, owning your first home could be closer than you think.
*Eligibility at the discretion of State and/or Federal Government. Please refer to Government websites for further information: https://www.housingaustralia.gov.au/home-guarantee-scheme
Lender terms and conditions apply. Resolve Financial Solutions Pty Ltd trading as Resolve Finance ABN 65 079 545 378, Australian Credit Licence No. 385487.
**My Home Plan is operated by Resolve Financial Solutions Pty Ltd trading as Resolve Finance. ABN 65 079 545 378. For more information visit My Home Plan – Resolve Finance Australian Credit Licence No. 385487. Terms and conditions apply. My Home Plan application fee of $499 is non-refundable.
~ Source: Realestate.com