​​​​​​​Single-income couple, one dependent

Household income $56,000/year, $15,000 deposit, first home buyers

Arjun and Prisha are seeking to buy a two-bedroom apartment for their young family. See how they were able to find a home close to family support networks and public transport.

Arjun and Prisha’s journey home

Arjun and Prisha are a young couple with a two-year-old daughter. They migrated to Adelaide four years ago and are currently living in a two-bedroom apartment on which they pay $320 a week rent. Arjun works full-time in IT and Prisha is a stay-at-home mum who helps look after her sister’s children.

They are looking to purchase their first home near to Prisha’s sister’s family and public transport, as they only own one car. Having not previously bought a home they are eligible for the First Home Owner Grant.

Arjun and Prisha find a two-bedroom apartment at Camden Park priced at $345,000, available exclusively to HomeSeeker SA eligible buyers. Located on Anzac Highway there are multiple public transport options (bus and tram) and it is near to Prisha’s sister’s home in Kurralta Park. The builder of the apartments has partnered with SA Housing Authority to offer this apartment at an affordable price.

Following HomeSeeker SA’s tips on budgeting and saving, Arjun and Prisha have saved $18,000 to put towards the upfront costs of buying their home, and have a $5,000 credit card, which they try to pay off every month.

Arjun and Prisha talk to HomeStart Finance about their options and select the Low Deposit Home Loan. Because their combined annual income is below $90,000 they are also eligible for the Starter Loan, which contributes up to $10,000 towards fees and charges, but must be paid back within the first five years of the loan.

Arjun and Prisha work out their finances as follows.

Monthly household income after tax


Home purchase price: $345,000 - First Home Owner Grant ($15,000)


Stamp duty + other fees: $16,518 – Starter Loan ($10,000)


Borrowed amount: $336,518 – 4% Deposit ($15,000)


Monthly repayments on both loans
Calculated over an estimated loan term of 19 years and 2 months



This fictional case study is based on real life experiences of home buyers. Before buying a home, it is strongly recommended you seek professional advice on your personal financial circumstances and your ability to pay a mortgage.

As at December 2021