If you’re one of the many thousands of Australians struggling to save a deposit to buy your own home, you’re likely feeling like it’s an impossible dream. And sadly, for many it is. Trying to find the extra funds to save each week after you’ve paid for all the everyday bills and expenses that continue to roll in is tough. And while moving in with your parents or in-laws to help you save money may be an option, it’s not for everyone.
But, the good news is, that there is another way—investing your superannuation to buy a property. And even better, this solution requires little to no money down!
So you might be thinking, why isn’t everyone doing it? Or it sounds too good to be true? And the truth is, like all investment strategies, this is not for everyone. But, if you’re a hardworking Australian with a minimum super balance of $200,000 (or can make up this amount combined with your partner or up to three other family members) this could be your chance to get off the rental trap and onto the property ladder.
How does it work?
The HomeBuyer Accelerator program is a strategic investment strategy that involves switching your super to a self-managed super fund (SMSF) which allows you to decide how the money in your super is invested. In the strategy, we recommend investing in the property market through a residential trust, as this allows you to leverage your super to access a personal loan for the deposit. Once you have your deposit, you can then use it to secure a home loan with an approved lender.
The admin, legals and investment strategies are all managed for you by our experienced team, just as they are in a retail or industry super fund. This means you have the freedom to choose how your money is invested without the burden of going it alone. And best of all, our services are provided free of charge—we make our money through your investment in property so you won’t be out of pocket.
Step 1: Find out if you qualify
The first step is to complete a quiz to learn if you qualify and if the strategy is a good fit (take the quiz here). To be able to leverage your super in this way you’ll need a minimum of $150,000 in super either individually or by combining your super with up to three other family members or friends.
From there we invite you to attend the HomeBuyer Discovery Session, a 60-minute webinar that takes you through the strategy in detail, so you have the information you need to make an informed decision.
Step 2: Set up an SMSF and organise finance
Following the webinar, the next step is to meet with our team. We’ll discuss your circumstances and suitability in depth, before getting everything set up behind the scenes to switch you to an SMSF. Once your SMSF is up and running we’ll navigate you through the process of leveraging your super to access a personal loan for a deposit. You can then use the deposit to secure a home loan from one of the approved lenders.
Step 3: Choose your land and home design
With a loan pre-approved, you can now purchase a block of land to build your brand-new dream home! We offer expert insights and advice to help you find and purchase the perfect block as well as guidance on choosing the right home design to suit your family’s needs.
Step 4: Settle the land and build
Once you’ve found your ideal block, it’s time to settle the land, finalise the purchase and make it official! Construction can now start and you can watch your new home evolve and see how it all comes together.
Step 5: Move in and enjoy
When construction is complete and the finishing touches have been added, your brand new home is ready for you to move in and enjoy! Free from the restrictions of the rental trap, you’ve made it onto the property ladder at last—so be sure to celebrate this important milestone with family and friends!
Whether you’re looking to enter the market and buy your first home, or are recently divorced and wanting to get yourself back on track, if you’re struggling to save that elusive deposit to purchase a home, this strategy is a game changer.
If you’d like to know more, get in touch with our team on 0448 274 572, or book a 10-minute discovery call to get the ball rolling today.
