Saving for deposit number two

[Eppie]

Hello,

Myself and the fella bought an apartment a couple of years ago. We would like to upgrade some time in the future and want to start saving for a deposit. What is the best way to go about this? Someone suggested a credit union account to us as we couldn't easily get at the money and also because a credit union might lend to customers in the future.

Any advice appreciated!

 

[LDFerguson]

If you're selling house number one, you may well have a deposit from the sale proceeds to go towards house number two.

However, saving is always a good idea. Have a look at this thread for a discussion of the merits of saving in a Credit Union.