Supporting home ownership: Brendan's story
Purchasing his first home brought immediate relief for Brendan, a single father in regional Queensland, along with the security he had been working towards for years.
After saving for around three years while renting, Brendan found it increasingly difficult to keep pace with rising house prices. Each time he felt close to buying, the market moved out of reach.
“Every time I thought I was nearly there, prices had gone up,” he said. “I’d look at one area, and by the time I had the deposit, it was too expensive.”
Brendan learned about the Australian Government 5% Deposit Scheme through his mortgage broker, who supported him through the application process.
“The whole experience was seamless,” he said. “There were no hiccups, it just worked.”
Without the Scheme, Brendan believes home ownership would have taken much longer, if it happened at all. His determination was driven by concerns about long‑term security for himself and his son. “At some point, I’ll have to stop working,” he said. “If I didn’t own a home, I felt like I’d end up homeless.”
Through the 5% Deposit Scheme, Brendan purchased his first home and, for the first time, found himself paying less in mortgage repayments than he had previously paid in rent, easing financial pressure and providing welcome certainty.
“That’s taken a huge amount of stress off me,” Brendan said.
For Brendan and his son, owning a home has meant independence and a strong sense of pride. “My son can set up his room how he wants,” Brendan said. “He’s even doing a bit of gardening. He’s excited because it’s ours.”
The moment home ownership truly became real for Brendan was the freedom that came with it. “This is mine to do what I want with,” he said. “I don’t have to ask permission, and I don’t worry about getting my bond back. That’s a great feeling.”
Reflecting on his journey, Brendan encourages others to act when the opportunity arises. "Definitely take the opportunity while you can,” he said. “House prices keep going up. If you don’t take the leap, you might miss out.”
For Brendan and his son, the 5% Deposit Scheme didn’t just make buying a home possible - it provided financial relief, long-term stability for his family and certainty for their future.