A first home buyer's roadmap in Australia

Two numbers shape everything: how much you have saved, and how much a lender will let you borrow. Lenders typically look for a deposit of a certain share of the purchase price, and if yours is below the usual threshold, lenders mortgage insurance may apply — an extra cost worth understanding early.

Your borrowing power depends on your income, your living expenses, existing debts, and the size of your deposit. A broker can give you a realistic figure rather than an optimistic online estimate, so you shop in the right price range from day one.

Small habits in the months before you apply make a real difference. Lenders look closely at how you manage money, so steady saving, clearing or reducing high-interest debts like credit cards, and avoiding new "buy now, pay later" commitments all strengthen your application. Genuine, regular savings also show a lender you can handle repayments — not just that you have a lump sum.

First home buyers in Australia may be eligible for government support — grants, stamp-duty concessions, or schemes that reduce the deposit hurdle. The detail varies by state or territory and changes over time, and eligibility depends on your circumstances, the property, and the price.

Treat any figure you read about grants or concessions as something to confirm with the official source before you rely on it. The right body is usually your state or territory revenue office, and your broker can help you check what currently applies. The rules can also differ for a newly built home versus an established one, so it is worth confirming which category your purchase falls into.

Pre-approval tells you what you can realistically offer and shows agents you are serious. It is usually quick to arrange once your documents are in — commonly a couple of business days. Having it in place means you can move with confidence when the right place appears, rather than scrambling for finance after the fact.

Pre-approval is not a guarantee, and it has an expiry, so it is best lined up when you are genuinely ready to start looking.

The deposit is not the only upfront cost. Stamp duty (where it applies), conveyancing or legal fees, building and pest inspections, loan establishment fees, and moving costs all add up. Knowing the full figure protects you from a nasty surprise close to settlement.

Once you are in, your ongoing costs include the loan repayments, council rates, insurance, utilities, and any strata fees. Build these into your budget so the home stays comfortable, not stressful.

When you find the place, your offer or auction bid leads to a contract, then to formal loan approval, then to settlement — the day the property becomes yours. Your conveyancer or solicitor handles the legal side; your broker manages the finance side and keeps the lender moving.

Auctions and private treaty sales work differently, and the protections you have can vary — for example, a cooling-off period may apply to one and not the other. Knowing which process you are in, and what a building and pest inspection is telling you, helps you bid or offer with your eyes open.

Each step has its own checklist, and a good team keeps them all on track so settlement day is smooth rather than frantic.

Buying your first home is a big step, and you should not have to work it out alone. We will give you a realistic borrowing figure, help you check what assistance you may be eligible for, arrange pre-approval, and compare loans across the market so you start on the right footing.

Book a free, no-obligation chat and we will map out your path from deposit to keys.