Description
With property prices high and interest rates low, many potential homebuyers are struggling to save a large enough house deposit. With the use of a case study, this article discusses the pros and cons of investing your savings if you are a few years out from buying a home.
Introduction
It’s never been easy to save the deposit for a home, but low interest rates make it even more difficult. For starters low rates drive up house prices, forcing homebuyers to come up with bigger deposit amounts. Then those low rates rob buyers of the ability to earn a decent, low risk return on their hard-earned savings. When the traditional savings vehicles of homebuyers – savings accounts and term deposits – offer only token rates of interest, aspiring homebuyers start to ask themselves what can they do to build their deposit more quickly?
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