HomeSoon
Want your first
home sooner?
Maximising the government's First Home Super Saver scheme can boost an average first home deposits by $15,000*
For younger Aussies,
not Boomers...
The challenges of younger Aussies are close to home at Pearler. We built Pearler Super to help them build wealth earlier and HomeSoon to give first home buyers much needed help in using the First Home Super Saver scheme.
How do you get to $15k?
This example assumes that in six years, an $80K earner saving $510/month could boost their deposit by $15K with a 7.34% p.a. FHSS deemed return versus 4.5% p.a. bank interest.
But, how though?
When you save via superannuation the government charges you 15% tax on the money you earned to put in there, even if you're taxed at 30-45% on your normal income.
I want to know more.
Read more about the FHSS and explore case studies here.
*These calculations are estimates and don't factor in your personal situation, but they're a great way to understand how the FHSS can work.
How come I haven't heard about this?
You're not alone... Savings in the scheme get taxed at 15% - you can reinvest the tax saving/return, boosting your deposit!
Meet someone who's done it.
Hi, I'm Ana Kresina!
I bought my first home in Melbourne in 2022 using the First Home Super Saver scheme. Based on the government's calculator, I saved nearly an extra $6K in two years.
I had to carefully track my scheme contributions, estimate my savings, and manage my deposit across multiple bank accounts and apps—a lot of admin! Luckily, I love a good spreadsheet.
HomeSoon wasn't around when I bought my home, but I wish it was. It would have made the whole process so much easier.
On your own, using the scheme isn't easy.
The scheme can seem confusing, here are just some of the reasons:
1.
Separated from your savings
If you have bank savings, a share portfolio and also use the FHSS via your existing super fund for your deposit, then it can be hard to keep a running total across multiple apps.
2.
Combined with your super
Within super, it can be hard to separate your FHSS savings from your long-term retirement savings. And because the average deposit can take 6-9 years to reach, whereas retirement is generally much further away for first home buyers, you might end up taking too much risk with your first home savings.
3.
Painful to calculate
Generally you have to review past transactions and manually identify certain types of contributions, which can make it hard to calculate whether you are under or over the FHSS caps.
4.
Hard to track progress
The super system was initially designed for retirement savings, so trying to track progress towards your first home goals within super is often not very straightforward.
But, rest assured.
HomeSoon can demystify confusion and help boost your deposit.
Open now,
invest later
You can open an account before you invest, play around and build some trust. We can help you invest when you're ready. And if you don't like us, we'll help you close the account!
HomeSoon
Want your first home sooner?
HomeSoon is a feature of Pearler Super, so pricing works the same way.
Super
HomeSoon is a feature of Pearler Super designed to simplify accessing the FHSS. Fees only apply once you have savings in your account.
HomeSoon is designed for you to boost your first-home deposit savings by using the First Home Super Saver Scheme.
HomeSoon can be used just for your first-home deposit, without needing to transfer in your ordinary super.
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