Supporting home ownership: Stuart’s story

“I’d pretty much given up trying. House prices just kept increasing, and I hadn’t been actively looking since I sold in 2020,” he said.

The rising cost of housing, combined with the challenges of meeting serviceability requirements on a single income, made home ownership feel out of reach. Without additional support, Stuart felt limited to only being able to afford a much smaller home, if anything at all.

Stuart first learned about the Australian Government Help to Buy Scheme through a trusted source – his brother, a mortgage broker.

“My brother told me about the Scheme. I probably wouldn’t have known about it otherwise,” Stuart said.

The introduction proved to be a turning point. The Government contribution significantly improved Stuart’s purchasing power, allowing him to consider homes that would otherwise have been unattainable.  

Instead of settling for a smaller or less suitable property, Stuart was able to secure a home that met his family’s needs. “It’s perfect for me and my two sons. It’s in a great area and close to work,” Stuart said.

For Stuart, home ownership offers more than just financial stability, it provides peace of mind and control over his living situation.

“Having a home means security and stability. When you’re renting, you have no control over rent increases or how long you can stay,” said Stuart.

As Stuart prepares to settle into his new home, he is looking forward to the simple pleasures of having a space to call his own.

“I’m just looking forward to sitting on the back deck and having a beer.”

Stuart’s story highlights the tangible impact of the Australian Government Help to Buy Scheme in making home ownership accessible for individuals who may otherwise be locked out of the property market. By bridging the affordability gap, the Scheme empowered Stuart to provide a stable and secure future for himself and his family.  

^{*Name has been changed to protect privacy.}