The Australian Government 5% Deposit Scheme and the Australian Government Help to Buy Scheme are two different pathways to homeownership for Australians – but do you know the difference between the two? If you're buying a home in the near future, these schemes may be relevant to you, and may support or shift the way you approach home buying.

I've deep dived into both schemes, including the benefits, risks and considerations, and who they're best suited to, so you can feel more informed. PLUS I took your questions right from your fingertips to the top to get the answers.

Highlights:

• The difference between the two schemes
• Who is best suited to each (and who isn't)
• Considerations when buying using a scheme, and risks to be aware of
• Recent changes to the schemes that open them up to more people, including people who haven't owned property in the last 10 years, or single parents buying out a former partner
• Case studies from people who have used the schemes and how it impacted their home ownership journey.

Head to www.firsthomebuyers.gov.au to find out more and check your eligibility.

This episode was created for educational purposes only, in partnership with the Australian Government.