While the internet is full of tired advice about skipping coffee and cancelling Netflix, real people are getting far more creative with their house deposit strategies. Whether you’re saving up to buy a farmhouse in Toowoomba or working with the best builders Ocean Grove has on a newly built home, here are six unconventional approaches that can help you save for a deposit.
1. The Reverse Rent Hack
Some savvy savers are temporarily moving back in with their parents—but with a twist. Instead of living rent-free, they’re paying their parents the same amount they’d pay in rent, but the parents secretly bank it all and return it when the deposit goal is reached. One Reddit user called it “forced savings with a plot twist” and managed to accumulate $42,000 this way. The psychological trick? It feels like regular rent payments rather than optional saving, and the surprise lump sum return provides extra motivation.
2. The Side Hustle Snowball
Rather than picking one side gig, determined savers are creating cascading income streams where each gig funds the next, bigger opportunity. One creative saver started by doing food delivery to fund a pressure washer, used that to start a weekend cleaning business, then hired others to do the cleaning while they focused on higher-paying property maintenance contracts. Each layer built on the previous one, turning a $200 initial investment into a $60,000 deposit within 18 months.
3. The House Hacking Prequel
Before buying their own homes, some people are offering to manage investment properties for elderly or time-poor landlords. They find tenants, handle maintenance, and sometimes even rent out spare rooms on Airbnb (with permission), all in exchange for reduced rent and a cut of the profits. One couple saved their entire deposit this way while essentially getting paid to learn about property management.
4. The Lifestyle Arbitrage Play
Remote workers are taking advantage of geographical wage differences in creative ways. Some are working U.S. tech jobs while living in cheaper cities, even temporarily relocating to places like Thailand or Mexico. Others are house-sitting their way around expensive cities, stringing together long-term sits to eliminate rent entirely while maintaining their high-paying local jobs. One software developer banked 85% of their salary for a year by combining both strategies.
5. The Micro-Investment Multiplication
Going beyond regular savings accounts, some deposit hunters are playing the micro-asset game. They’re buying and selling items that typically hold or increase in value—think limited edition sneakers, trading cards, or vintage furniture. One couple turned their spare room into a mini warehouse, flipping collectables on weekends while holding ones likely to appreciate. Their twist? They only sold when items doubled in value, turning their initial $5,000 into $40,000 over two years.
6. The Skills-for-Equity Switch
People with specialised skills are trading their expertise for equity in small businesses, then using the passive income for their deposit. For example, a graphic designer offered to revamp a local café’s branding in exchange for 5% ownership instead of payment. Meanwhile, a web developer we know created online ordering systems for three restaurants during COVID-19 in exchange for small equity stakes. These arrangements created multiple income streams that went straight to their house funds.
Many of these strategies work because they focus on the earning side of the equation rather than just cutting costs. They also tend to build valuable skills and connections along the way—assets that often prove just as valuable as the deposit itself.
