If you don’t have 18 years to wait before moving your family into a home, the best solution to that problem is to save aggressively. The more you can stash away from each pay check now, the fewer headaches you’ll have later. A heftier deposit means fewer repayments you’ll have to make with interest down the road.
A good rule of thumb is that 10 per cent of each pay check should go toward your deposit – ideally, in a separate bank account so you won’t be tempted to spend that money. Upping that percentage will help you afford a home sooner – and so will working with a broker who can track down affordable low-interest loans