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Boost your home loan deposit: you may have cash lying around the house

If you’re looking for a way to boost your house deposit, or could do with a few thousand dollars to make additional payments into your mortgage, maybe a Spring clean is the answer. 

According to the 2020 Gumtree Second Hand Economy Report,the average Aussie household could make nearly $6,000 from selling pre-loved items.

Apparently as a nation we like to hoard items, with more than 85% of us having unwanted items that are just collecting dust around our homes.

The Report found that the average Aussie household has 19 items they no longer use or want. Think of the extra space (and cash!) you would have by selling these items.

 

What kind of items are we talking about?

Think about your own home for a minute. When was the last time you used the treadmill in the spare room? Or used the ski gear in the garage that no longer fits?

Here are the most common pre-loved items households are keen to sell:

Clothing, shoes and accessories: 53% (of households)
Books: 45%
Music, DVDs or CDs: 44%
Electronic goods (including phones, PC’s): 41%
Games and toys: 35%
Home decor/furniture: 28%
Tools/gardening/DIY items: 21%
Appliances: 20%
Kitchen/dining items: 17%
Chairs: 17%
Lamps: 15%

 

What about Covid-19?

Covid-19 isn’t deterring buyers or sellers. In fact, it appears to be quite the opposite.

42% of Australians surveyed say they’re more likely to sell items through the second-hand economy now than before the pandemic.

This makes sense because there are many households worried about their ongoing ability to pay household expenses. Plus, if you’ve been isolated for a long period and/or working from home, you’ve likely noticed things clogging up your space that you no longer want in your home.

 

You have the additional cash, now what?

So, you’ve sold some items to boost your deposit and want to have a chat to see how much you can borrow.

If, on the other hand, you’re looking for ways to save on your mortgage to put more cash back in your own pocket, we can help with that too.

You can get started here.

 

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