How couple saved a $120k house deposit in three years

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PHOTO: Miraz Rossy (right) and his wife Dippanita Mushfiq (left) bought a block of land in a new development in south west Sydney. Pictured: Supplied.

Saving for a house deposit is no easy feat. But one couple have proven that sticking to a budget can reap huge results.

When Miraz Rossy and his wife Dippanita Mushfiq decided to jump on the property ladder, they saved an impressive $120,000 in three years under a strict savings system.

Rather than purchasing an existing house, the couple decided to build their family home in south west Sydney.

“We didn’t have much hope that we’d get the land but luckily we went in that day and they released four blocks of land,” Mr Rossy said.

“Right away we put down our 15 per cent deposit and our journey started.”

The pair eventually settled on a $360,000 basic home building contract with additional fencing, landscaping and a spa.

The couple’s five bedroom home started construction almost two months ago, but has paused due to current Covid restrictions – with an expected completion of January 2022.

Mr Rossy said they were able to save for their deposit through a “strict budget”.

“My wife saved all her money in a bank account for the house and I took care of our needs by spending my income,” he said.

The couple, who work full-time in the heath and engineering sector, bought a 380sq m corner block for $400,000 after a chance visit to the office of property development company Stockland, back in December last year.