Mark contacted us in Sept 2020. He informed us his 18yo son, Jack, was undertaking his IET at the School of Transport in Pucka. Jack had $10K saved up. Mark wanted to know if we could put a plan together for Jack to buy his first home. This was a goosebumps moment for us all!! (imagine being in a position to buy your own home in your teens…)

We created the plan based on 2 x COAs. If Jack was posted to RAAF AMB, he could pull the trigger on his HPAS ($11K), QLD FHOG ($15K) and the HomeBuilder ($15K) to supplement his savings, and build his own home.
If he was posted elsewhere (TVL or DAR), then he would be on a strict savings plan for 2-3 years before his deposit and costs would be at an appropriate level to buy an investment property (in a high-growth location). With the property price rise that has taken place, he would have seen him chasing something that was moving away from him (the property market).

As luck would have it, the ‘SCMA gods’ actually worked in Jack’s favour, with a posting to RAAF AMB. Phew! What you’re seeing here is the outcome of his brand new PPOR (own home).

• Purchase price: $432,000 (FULL turn key package)
• Land settlement: June 2022
• Key handover: April 2022
• Bank valuations of comparable properties are around $620K!