Menu
Business

How a first home buyer built house with no deposit

DAVID Dyball had dreamed of being a homeowner for as long as he could remember but there was one word stopping him: Deposit.

Now aged 28, the Maryborough man has purchased a home without a deposit in Aldershot.

His trick was turning his First Home Owners Grant into the deposit.

FRASER COAST TOP STORIES

That's not a tyre that's a two metre coastal taipan

'Keep walking you fat f***king cow': Mum abused on run

JOBS BONANZA: 150 supermarket jobs up for grabs on Wednesday

83yo man bitten by tiger snake in retirement village

And he is sharing how he did it.

"It all started when I picked up a paper and saw prices for house plans listed," he said.

Once Mr Dyball realised the weekly payment on the plans was less than what he was paying as rent, he started thinking outside-the-box as to how he could get himself onto a plan.

"Being eligible for a First Home Owner Grant, I was wondering if I could use that as the deposit," he said.

"So I contacted a few builders, explained my situation, and had two come back saying they work closely with finance companies that do no-deposit deals."

He said negotiating a deal came down to communication and finding people that would listen to his idea.

 

Is a deposit the only thing holding you back?
Is a deposit the only thing holding you back?

 

Over the next few months, Mr Dyball looked at blocks of lands and found the piece he wanted in Aldershot.

"My plan was simple," he said.

"The process was to find a house plan that suited my budget and then to find land to build it on.

"I spent a lot of time watching land prices to find one at a cheap price.

"The only luck in the process was the fact that the Government was offering grants."

His new home is planned for completion in May.

"It has three bedrooms and two bathrooms," he said.

"It was all done for less than $200k; it cost $196k to be exact.

"If you want to save money you have to get out there and put the work in."

Topics:  fraser coast real estate



"If only Dolly knew what I know now"

Fraser Coast Chronicle journalist Inge Hansen suffered from cystic acne in her early teens and was bullied as a result.

I asked myself "why is this still happening?"

African drummer Koffie brings culture to Hervey Bay

Koffie Fugah will share the history of his culture during the weekend workshop and wants everyone in Hervey Bay to come and experience the power of West African traditional dancing and drumming.

'When I'm drumming I feel connected to my roots and my ancestors.'

What you think about truck driver behaviour on our roads

The truckie was trying to secure his load when he was injured. Picture: Theo Fakos

They are the reason I can no longer drive on the highways

Local Partners