Complete First Home Buyer Roadmap

Your Step-by-Step Guide to
Buying Your First Home

From pre-approval to getting the keys — an interactive, no-nonsense roadmap covering everything a first home buyer needs to know in Australia.

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STEP 1

Get Pre-Approval

Understand your numbers before you search

Before looking at a single property, you need to understand your financial position. This is the most important step — everything else depends on it.

Borrowing Capacity

  • Your maximum borrowing amount is based on your income, expenses, liabilities, and deposit
  • Most lenders allow you to borrow 4–6x your annual income
  • Use the MortgageBricks calculator or book a free session to get your exact number
  • Factor in a buffer — don't borrow your absolute maximum

Monthly Repayments

  • At current rates (~6%), a $600K loan = approx. $3,600–$3,900/month (P&I, 30 yrs)
  • Use the 30% rule: your repayments shouldn't exceed 30% of your gross income
  • Consider what happens if rates rise by 2–3% — can you still afford it?
  • Factor in council rates, strata/body corporate, water, insurance (~$400–$800/month)

Your Contribution (Deposit)

  • Minimum 5% deposit with First Home Guarantee (no LMI)
  • 10–20% deposit avoids Lenders Mortgage Insurance
  • On a $700K home: 5% = $35,000 | 10% = $70,000 | 20% = $140,000
  • Factor in funds-to-complete: deposit + stamp duty + legal fees + moving costs

Stamp Duty (First Home Buyer Concessions)

  • Every state has different first home buyer stamp duty concessions — thresholds vary significantly
  • NSW: exempt under $800K, concessional $800K–$1M | VIC: exempt under $600K, concessional $600K–$750K
  • QLD: exempt under $500K, concessional $500K–$550K | WA: exempt under $430K, concessional up to $530K
  • SA & TAS: no stamp duty exemption but grants available | ACT: phasing out stamp duty, check current rates | NT: first home owner discount applies
  • Use your state revenue office calculator for an exact figure — search '[your state] stamp duty calculator'
  • Ask your broker about any annual property tax options available in your state vs upfront stamp duty

💡 Pro Tip: Get your pre-approval before you attend your first open home. It takes 3–5 business days and gives you the confidence to make an offer immediately when you find the right property.

Ready to get your pre-approval? We make it simple.

Our team works with 40+ lenders to find the right fit for your situation. Book a free session and we'll have your pre-approval sorted in 3–5 business days.

Book Free Session Call 0428 033 000
STEP 2

Define Your Suburb Criteria

What matters most to your family?

STEP 3

Suburb Due Diligence

Shortlist 5 suburbs that match your criteria

STEP 4

House Due Diligence

What to look for in any property

STEP 5

Inspections & Auctions

Start attending in your shortlisted suburbs

STEP 6

Build Agent Relationships

Be the buyer agents call first

STEP 7

Solicitor / Conveyancer

Protect yourself legally from day one

STEP 8

Make an Offer

Select your property and negotiate smartly

STEP 9⏱ Within Cooling-Off

Building & Pest Inspection

Must be completed within the cooling-off period

STEP 10⏱ Within Cooling-Off

Unconditional / Formal Approval

Must be completed within the cooling-off period

STEP 11

Settlement Day

Get the keys to your new home!

Educational purposes only. This guide is intended as general educational information to help you understand the home buying process. It does not constitute financial, legal, taxation, or professional advice. Everyone's circumstances are different — please seek independent legal, financial, and tax advice tailored to your situation before making any property or financial decisions.

Ready to Start Your Journey?

Book a free 30-minute strategy session with our expert brokers. We'll review your financial position, explain your options across 40+ lenders, and map out your path to home ownership.

Book Free Strategy Session Call 0428 033 000