First Home Buyers Property Price Cap has changed throughout Australia, and you now only need 5% deposit.

The First Home Buyers Property Price Cap has changed across Australia, and now you only need a 5% house deposit. In WA, the maximum cost of purchasing a house using this scheme has increased up to $850,000 for city homes and $600,000 for country areas.

Psychologists have long known that housing issues affect mental health. Problems with those you live with, accomodation instability, and poor housing conditions can increase stress, relationship issues, anxiety and depression. Mental health issues can also lead to housing problems, creating a cycle. Solving this needs affordable, stable housing and support services.

The Australian Government 5% Deposit Scheme is designed to make buying your first home more achievable by helping you buy sooner with a small deposit.

Minimum 5% deposit for first home buyers

Minimum 2% deposit for single parents

The Help to Buy Scheme is a new initiative designed to make home ownership more achievable with shared equity support from the Australian Government. If you have saved what you can, but are still a little short of being able to buy a home that meets your needs, Help to Buy may be able to bridge the gap if you have a minimum of a 2% deposit.

You can also make extra voluntary contributions to your super fund, to grow your savings faster and take advantage of lower tax rates, all to help you buy or build your first home.

To find out more about the First Home Buyers Scheme, click here to visit the First Home Buyers Website

For a specialist community housing provider for people experiencing a psychosocial disability, contact Mind Australia

If you have a disability and need an advocate to help you, click here

To look up the First Home Buyers Property Price Cap in other areas of Australia, click here

It is not impossible to purchase a house. It’s like any other goal.. just take one step at a time, and you can buy your own home.