Saturday, 2 February 2013

Book review: 104 Weeks to Your Home Deposit

I do a lot of reading as I’m researching my posts.  Where I find helpful websites, I reference them in the posts.  However, I also read a lot of books.  As the Millionaire on Heels is cost-focused, I’m a big user of my local library.

So I thought it would be interesting to periodically review some of the books I read.  Because my focus in January and February was primarily on mortgages and financial planning, not surprisingly, my initial reviews will cover mortgage and financial planning advice books.

Today, I’ll discuss 104 Weeks to Your Home Deposit by Peter Cerexhe.  This book is a few years old now, so the figures are a bit out of whack compared to current interest rates and Sydney house prices.  But its advice still rings true.

The book is organised into three parts:
  • Part 1: Working to a Method includes the six principles of saving for a home, guides to calculate how much you need to borrow and what your repayments will be, a worksheet to plan out how you will accumulate your home deposit, options to stash away your savings, and an initial exercise to get your deposit underway.