Planning your budget

Making a budget (and sticking to it) helps you map out your key expenses, plan for the weeks to come and make owning your dream home a reality.

Why is budgeting important

Unless you’ve won the lottery recently (and if you have – congratulations!), chances are you will need to save up to get your home-buying deposit together.

Plus, you need to make sure you’ve got the funds you need for the essential items like carpets, curtains, fixtures, fittings, tiles, appliances and furniture that let you turn a house into your home.

These things don’t need to be top of mind when you first start to think about buying a home, but the closer you get towards making key decisions around the likes of choosing whether to build a home or buy a completed one, the more you’ll need to factor these costs into your plans.

That’s where budgeting comes in – it’s your daily saving routine that will help you hit your goals.

How to plan your budget

The Australian Government's MoneySmart online tool recommends taking five key steps:

  1. Record your income- make a list of how much money is coming in and when 
  2. Add up expenses - including rent or mortgage payments, bills, food and groceries
  3. Set a savings goal - work out how much you can save
  4. Set your spending limit - determine how much you have to live on after expenses and savings
  5. Review your budget  - get into the habit of regularly checking (ideally monthly) that you're still on track. 

City or suburbs?

The cost of living in the city – and the budgeting required to afford to buy there and keep meeting ongoing repayments – is one reason why some people turn to alternatives. Compared with Core Logic’s median value of properties in Australian capital cities buying a home in a Stockland community could save you money, as well as delivering outstanding quality of life.

Learn more

Where your budgeting can take you

Ever dreamt of the feeling you’ll get when you pull into the driveway of your ideal home? Well, Stockland can help you make that a reality, with a range of affordable home options to choose from.

Find your dream home

What do you want to do next?

Keep going with your Finance job to do

Home buyer government grants and rebates
How much deposit do we need for a home loan?
Getting a home loan
Preparing your finances for a new move

Move on to your next job to do

Choose the ideal type of home for your needs
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Get your build and design foundations in place
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Find your perfect community
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Get closer to your dream home today!

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