New 80% LVR requirements being enforced by APRA mean that the rules have changed for home loan borrowers in 2018 and banks are now slashing the number of mortgage products with a maximum LVR of 95%. Put simply that means that if you’re saving for a house deposit, you’ll need a lot more than last year or the year before. Saving for a deposit is probably the hardest part of buying a property and leaving some asking where they will find the extra cash.
It’s no secret that people saving for a house deposit go without the extras and can save money by packing their own lunch, going without their smashed avo or holidaying locally rather than abroad, but nowadays, it seems to take more than sacrificing the simples.
Getting on a true side hustle can make you real money and get you to your goal of owning your own home faster. It’s important to remember that you can create a side hustle individually or become part of a team or company.
We’ve put together some links for some ideas and information on starting your side hustle. Good luck!