Buying your first home is one of the most exciting milestones in life — but let’s be real, it can also feel a little overwhelming if you don’t know where to start. Don’t stress — whether you’re buying to live in or as an investment, I’ve broken it all down into simple steps to help guide you through the journey of purchasing your first property in Australia.
1. Figure Out What You Can Afford
Before anything else, it’s important to understand your budget. Chat with a mortgage broker or bank to get an idea of how much you can borrow, how much deposit you’ll need, and what your monthly repayments might look like. A lot of first home buyers start with a 5–10% deposit, but if you can save more, it gives you extra buying power and may even reduce your Lenders Mortgage Insurance (LMI).
Tip: The more you save, the more options you’ll have — and don’t forget to budget for extra costs like stamp duty, legal fees, and inspections.
2. Check If You’re Eligible for First Home Buyer Benefits
Australia offers some amazing government incentives to help first-timers get into the market. Depending on where you’re buying, you might be eligible for:
- First Home Owner Grant (FHOG) — a one-off payment that can go toward a newly built home or off-the-plan property.
- Stamp Duty Concessions — some states offer reduced or zero stamp duty for first home buyers.
- First Home Guarantee Scheme — allowing eligible buyers to purchase with as little as 5% deposit without paying LMI.
- First Home Super Saver Scheme — letting you use your super contributions toward a deposit.
Make sure you do your homework or speak with a professional (like me!) to see what you can claim.
3. Get Pre-Approval for a Home Loan
Once you’ve got a clear budget and explored your grants, it’s time to get your loan pre- approval. This is basically the bank’s way of saying, “Yes, you’re good to go — within this budget.” It gives you confidence and shows agents you’re serious when you’re ready to make an offer.
4. Start the Property Hunt
Now comes the fun part — the search! Think about what’s most important to you. Do you want to live close to family, the beach, or your workplace? Do you need good schools nearby? Would you prefer a new apartment or an older home you can renovate?
Whether you’re buying established property or off-the-plan, I can help shortlist options that match your lifestyle and budget — and guide you through inspections, contracts, and everything in between.
5. Make an Offer or Bid at Auction
Once you find “the one,” it’s time to make a move. You’ll either:
- Make a private offer (often in off-the-plan or new developments), or
- Bid at auction if the property is being sold that way.
This is where having a buyer’s agent or experienced consultant on your side can really help negotiate the best deal and avoid costly mistakes.
6. Do Your Due Diligence
Before signing anything, it’s essential to do the necessary checks:
- Building & pest inspection (if buying an existing home)
- Strata report (for apartments)
- Contract review by a solicitor or conveyancer
This ensures you know exactly what you’re getting into — no surprises.
7. Exchange Contracts & Pay the Deposit
Once you’re happy and everything checks out, it’s time to sign the contract and pay your deposit (usually 10%). At this stage, you’re officially on the path to owning your first home!
8. Settlement Day — You’re a Homeowner!
This is the final step where the property officially transfers into your name. Once settlement is complete, you get the keys and can finally call the place your own.
Final Thoughts
Buying your first home can feel like a massive task, but with the right guidance and support, it doesn’t have to be stressful. I’ve helped many first home buyers find the perfect property and I’m here to help you too — from the moment you start dreaming until the day you move in.
Have questions or want to explore your options? Reach out anytime — I’d love to help you take that first step with confidence.
