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Build Invest GrowDaniel Kotevski

First Home Buyers Guide — Your Roadmap to Ownership

Buying your first home is exciting, but the finance side can feel overwhelming. We break it down step by step so you can move forward with confidence.

Understanding the First Home Buying Process

If you have never bought property before, the process can seem like a maze of jargon, paperwork, and decisions. You are not expected to know it all — that is exactly why we are here.

We walk you through each stage, from working out what you can afford to handing you the keys. No pressure, no jargon, and no silly questions. Your only job is to find a home you love.

First Home Owner Grant NSW

The NSW government offers a $10,000 grant if you are buying or building a brand-new home. To qualify, the property value must be under $600,000 for an existing new home, or the total value under $750,000 for a home you are building.

You also need to be an Australian citizen or permanent resident, be over 18, and have never owned property in Australia before. We check your eligibility in your first meeting and handle the application as part of your loan process — one less thing for you to worry about.

Stamp Duty Concessions for First Home Buyers

Stamp duty is one of the biggest upfront costs when buying property. The good news is that NSW first home buyers get significant relief. If your home is valued at $800,000 or less, you pay no stamp duty at all. Between $800,000 and $1,000,000 you get a sliding-scale discount.

These concessions apply to both new and existing homes. We factor stamp duty savings into your affordability calculations from day one, so you get an accurate picture of your total costs.

Lenders Mortgage Insurance (LMI) Explained

LMI is a fee lenders charge when you borrow more than 80% of a property's value. It can add thousands to your loan, so understanding how to minimise or avoid it is important.

You can avoid LMI by saving a 20% deposit, using a family guarantee, or applying for the First Home Guarantee scheme (limited spots each financial year). In some cases, paying LMI actually makes sense because it lets you buy sooner and start building equity instead of renting. We help you weigh up both sides.

How Much Deposit Do You Need?

Most lenders require a minimum 5% deposit, though having 10% or 20% puts you in a stronger position with lower fees and better interest rates. For a $700,000 home, that means between $35,000 and $140,000.

Your deposit can come from genuine savings, gifted funds from family, the First Home Owner Grant, or equity in a guarantor's property. We review your savings and help you understand the most realistic path to getting into your first home.

How We Help You Buy Your First Home

A straightforward process with support at every step.

1

Free Consultation

We sit down and talk through your goals, income, and savings to understand where you stand.

2

Assess Your Borrowing Power

We crunch the numbers so you know exactly what you can afford before you start looking.

3

Compare Loans from 60+ Lenders

We shop the market for you and present the options that genuinely suit your situation.

4

Settle into Your New Home

We manage the paperwork and lender communication right through to settlement day.

First Home Buyer FAQs

The First Home Owner Grant (FHOG) in NSW is a one-off payment of $10,000 for eligible first home buyers purchasing a new home valued up to $600,000, or building a new home where the total value (land + build) is under $750,000. It does not apply to established (existing) homes. We help you check your eligibility during your first consultation.
LMI is a one-off premium lenders charge when you borrow more than 80% of the property value. It protects the lender, not you. You can avoid LMI by saving a 20% deposit, using a family guarantee, or qualifying for the First Home Guarantee scheme which allows purchases with as little as 5% deposit and no LMI.
Yes. A guarantor loan lets a family member (usually a parent) use equity in their property as additional security for your loan. This can help you buy sooner with a smaller deposit and avoid LMI. We structure guarantor loans carefully to limit your family member's exposure and help release them from the guarantee as soon as possible.
Your borrowing capacity depends on your income, expenses, existing debts, and the deposit you have saved. As a general guide, most lenders will let you borrow around 6 times your gross annual income, but every situation is different. We run the numbers for you at no cost so you get a clear picture before you start house hunting.
From your first chat with us to settlement day, the process typically takes 8 to 12 weeks. Pre-approval usually takes 1 to 3 business days, then you search for a property and make an offer. Once a contract is signed, settlement is usually 4 to 6 weeks. We keep you informed at every step so nothing comes as a surprise.
Beyond your deposit, you should budget for stamp duty (unless you qualify for a concession or exemption), conveyancing fees ($1,500 to $2,500), building and pest inspections ($500 to $800), loan application fees, and LMI if applicable. We give you a full cost estimate early so you can plan with confidence.

Ready to buy your first home?

Book a free chat and we will map out your next steps together. No obligation, no pressure.

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