For Yorta Yorta woman Heidi, building her first home is more than choosing bricks and paint – it is providing stability and a positive future for her family to thrive.
Heidi's journey to home ownership took a bumpy road. The single mother of six was battling dark times when she decided to take charge of her life and make a change.
"I had to turn my life around for my children. Life is too short. So, I got a job in Community Services and started saving."
Heidi wants to provide stability for the future generations of her mob – including her kids and grandkids.
"I thought, 'I'd really like to own my own home,' so when I pass away, my children have got something. It means everything to me to be able to give them that stability, safety and security for the future," Heidi reflected.
Heidi first heard about IBA from a work colleague. After completing her expression of interest form, she was able to get advice on how to prepare for home ownership and where she needed to improve before applying for a home loan.
"There were a few things on my credit rating that I needed to fix up, and IBA told me just to keep saving as much as I could."
"I started budgeting. I'm an artist and an author, so I saved all my money from that. Of course, I had to sacrifice some things, but it was worth it in the end."
Now, Heidi's years of moving around in rentals with her kids are coming to an end, as she settled on her new block of land on 22 January. "The kids are so excited. They keep saying 'Mum, when are we moving into the new house?' I'm so excited. It can't come quick enough for me," Heidi said.
Her new home is set to be built by July, but Heidi said it is worth the wait to build a perfectly suited home for her and her family.
"I decided to build because I can create a home that is exactly what I want. I can personalise it to what suits me. It'll be the colours that I like and the things that I want in my home."
"It's so exciting. My two youngest kids were also really excited to help me pick the new house."
When asked what advice she'd give to someone else interested in buying a home, Heidi said, "If you're determined to achieve something, you can achieve it," a motto that she has proven throughout her life.
Heidi was able to access the First Home Loan Deposit Scheme (FHLDS) through IBA with only a 5% deposit. This means if she wants to refinance to a mainstream lender in the future, the guarantee is portable to other participating lenders. With IBA and under the FHLDS, Heidi avoided the costly mortgage insurance and the minimum 20% deposit. Find out more about the First Home Loan Deposit Scheme.
Have you thought about building your own home? IBA received an equity injection from the Federal Government for new customers to construct homes in regional areas. We can fast-track your application if building is right for you. Find out more.