One lucky Canberran will soon score thousands to go towards buying their first or next property. Photo: Zango.
Zango’s $25,000 Win Your Way In competition has been underway for less than a month, and the local property listing platform has already received more than 1000 entries.
Applications opened on 15 January. The competition invites anyone looking to buy a property in Canberra or Queanbeyan to submit 25 words or less about how a $25,000 home deposit would impact their homeownership journey.
The winner will be announced at one of the capital’s biggest annual events – Skyfire – on 15 March.
Zango’s general manager, Karen Ligdopoulos, is looking forward to seeing a deserving Canberran take out what she calls a life-changing prize.
“We listened closely to those eager to enter the property market and discovered many who could easily service a loan were still unable to purchase, simply because they couldn’t afford the upfront deposit,” she says.
“Given how difficult it is to save in the current economic climate, we decided to run a competition to help one lucky winner on their way.”
“Though we’re only five years old, our platform is supported by the expertise and strength of Canberra’s largest real estate networks. As we celebrate our fifth anniversary, we want to give back to the community and make a meaningful impact on genuine local real estate needs.”
Karen says data collected by Zango shows many prospective homeowners are being held back by difficulties saving a deposit. Photo: Zango.
As expected, most entries have come from first-home buyers and long-term renters, but some surprising trends have emerged as well.
“We knew we’d be busy, but the sheer number of responses really goes to show how much of an impact this deposit would have for our entrants,” Karen says.
“Some of the stories coming in have been heartwarming and some heart-wrenching. We have heard from families who had to use their savings to pay for a funeral, and others excited to buy before bringing a new baby into the world.
“Around 70 per cent of entrants are first home buyers, but interestingly, a number were once homeowners before they had to start renting.”
If you’re planning on entering the Win Your Way In competition, Karen suggests coming with pre-approval to speed the process along.
“You don’t absolutely have to have pre-approval to apply, but you’ll need it eventually if your entry is put through to later stages,” she says.
“Take your time reading through the terms and conditions, and keep in mind that this is not a cash giveaway. Zango will make a direct deposit to the listing agency’s trust account when you purchase your home, which will need to happen by 15 June 2025.
“If you don’t want to enter yourself, tell your friends and family. Everyone knows someone who could benefit and we don’t want anyone to miss out.”
The $25,000 prize is only eligible for residential homes, not land, and the property can’t be used as an investment.
Applications close on Friday, 7 March, at 9 am sharp, so you’d better be quick to be considered.
For more information or to enter the competition, visit Zango.
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