House Deposit Savings Spreadsheet

A tracker for the deposit, before the purchase budget

The Dashboard shows the deposit target, current progress, remaining gap, estimated months and target date. With a purchase deadline entered, it also shows the monthly contribution required, projected savings and surplus or shortfall. Milestones make 5%, 10%, 20% and your custom percentage visible without treating any percentage as a loan-approval test.

Use this alongside the First Home Buyer Budget Planner. The deposit is only one part of cash needed to buy: duty, inspections, legal work and a buffer belong in the separate buying-cost budget. This tracker neither estimates grants nor decides whether a lender or government program would accept your circumstances.

Worked example: saving towards $150,000

A clearly illustrative $750,000 property and 20% target produce a $150,000 deposit goal. Starting with $45,000 means current progress is 30% and the remaining gap is $105,000. With $3,000 saved monthly and a $5,000 one-off contribution in January 2027, the fixed October 2026 start reaches the target in model month 34, August 2029.

For an October 2028 deadline, there are 24 calendar months available. Projected savings are $122,000, leaving a $28,000 shortfall. Reaching that deadline would require approximately $4,166.67 monthly after allowing for the dated $5,000 contribution. These figures assume every planned contribution occurs; they are not a forecast of property prices or investment returns.

Dates and contributions have explicit rules

Regular savings arrive at month end. A one-off contribution is allocated to its calendar month; a contribution in the planning start month is immediately available for projection. Current progress still uses current savings only. A future one-off is not included in progress simply because you entered it.

The optional target date can be blank. In that case, deadline-dependent results say No target date while the estimated savings path still works. A target in a past or current calendar month is invalid: clear it or choose a future month. The calculation uses month differences, not a daily cash ledger, and supports up to 480 months.

Methodology, boundaries and practical use

Review the tracker each month against your actual bank balance. Update current savings and move the planning start date together when beginning a fresh plan; leaving the old balance beside a new start date can misstate the remaining journey. Keep a separate emergency reserve outside the deposit amount.

The target is price multiplied by the entered deposit percentage. The current gap is the greater of zero and target less current savings. Each projected closing balance adds regular and applicable one-off contributions to opening savings. Required monthly savings subtract any one-off due by the deadline from the gap and divide by months available.

Already-funded goals show zero months remaining. Zero monthly savings can leave the target beyond the model horizon; they do not produce a false arrival date. Negative amounts, text in required numeric fields, zero property price and a deposit percentage above 100% make outputs unavailable. The model assumes no savings interest, inflation, tax or property growth. Save your own copy and update assumptions as circumstances change.

Check the method and compare online

General context: ASIC Moneysmart: saving for a house deposit. Calculations use the methodology and assumptions explained above.

• Mortgage repayment calculator
• How much deposit do I need?
• Plan upfront buying costs with the Budget Planner
• Calcy methodology and sources
• Browse free Calcy spreadsheets
• Report an outdated figure or calculation issue