Saving for your first home isn’t easy, especially with rising living costs. But in Wagga Wagga, where home prices are still well below those of capital cities, it’s more achievable than many realise. With good planning, discipline, and a few government schemes on your side, 2025 could be the year you stop renting and start owning.
For a typical first home in Wagga, buyers are looking at a price point of $600,000–$700,000. A 20% deposit on a $650,000 home would be $130,000—but under the Federal Government’s Home Guarantee Scheme, you could buy with as little as 5%, or $32,500. Better yet, if you’re eligible, you won’t have to pay LMI (Lenders Mortgage Insurance), which often costs tens of thousands on top of your loan.
But how do you get there? Start by automating your savings. Set up a high-interest savings account and funnel 10–20% of every paycheck into it. If you’re renting, consider downsizing or sharing with housemates temporarily to reduce expenses. If you’re living at home or can reduce your rent, you’ll be amazed how quickly the savings add up.
Also consider taking advantage of the First Home Super Saver Scheme, where up to $50,000 can be salary-sacrificed into your super account and then withdrawn for your first home deposit. This gives you the benefit of compound growth and a lower tax rate along the way.
Local buyers are increasingly combining savings, government assistance, and smart budgeting to secure properties across suburbs like Boorooma, Lloyd, and Estella. These entry-level areas provide solid growth prospects while remaining accessible to first-home buyers.
Buying a home might seem out of reach, but with the right plan, it’s closer than you think.
From Renters to Owners: How Locals are Reaching Their Property Goals in 2025
With housing affordability a top concern, particularly for younger buyers, learning how to save effectively is more crucial than ever.
🎯 The Target:
In Wagga Wagga:
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Median house price = ~$690,000
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20% deposit = $138,000
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With First Home Guarantee = as little as $34,500 (5%)
🧰 Your Saving Toolkit:
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Automate Savings: Direct debit into a high-interest savings account weekly.
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Rent + Save Hybrid: Live with parents or cheaper housemates while banking a surplus.
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Cut Big Expenses First: Cars, rent, takeaway—these three add up fastest.
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Use Your Super: Via the First Home Super Saver Scheme (up to $50K over 2 years).
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Govt Boosters: NSW First Home Buyer Assistance Scheme & FHOG.
🗣️ Real Talk: What Locals Are Doing
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Couples are delaying weddings or big overseas trips to save faster.
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Others are opting for entry-level townhouses in Boorooma or Estella to get their foot in the door and upgrade later.
