The First Home Buyer Checklist
Getting into your first home is still a big Australian dream. But in 2025, it’s taking more planning and more support than ever. From stricter lending criteria to changes in government schemes, the path to buying your first home isn’t as straightforward as it once was. Here’s what you need to know — and do — before you apply.
1. Know Your Borrowing Power
Before anything else, you need to know what you can afford. Lenders assess your income, expenses, debts and credit history to calculate your borrowing capacity. But not all lenders use the same formula, which is where a mortgage broker can help. We’ll shop around on your behalf to find lenders that are more favourable for first-time buyers like you.
2. Save Your Deposit (or Know the Alternatives)
A 20% deposit is the gold standard, but there are still options with less. First Home Guarantee and Family Guarantee loans let you buy with as little as 5% (sometimes zero), depending on your situation. These programs are popular and competitive — your broker can help you secure a spot before they’re gone.
3. Check If You’re Eligible for Government Support
In 2025, the First Home Owner Grant, First Home Super Saver Scheme, and stamp duty concessions still exist — but vary by state and are subject to change. We help you check eligibility and guide you through applying for these incentives.
4. Get Pre-Approval Early
Once you know your budget, getting pre-approved puts you in a stronger position when making an offer. It also shows sellers and agents you’re a serious buyer.
5. Understand All the Costs
It’s not just your deposit you’ll need. Be prepared for:
- Stamp duty (unless exempt) • Legal and conveyancing fees
- Lender’s mortgage insurance (if under 20%)
- Moving and inspection costs
6. Talk to a Mortgage Broker
Our job is to make the process simpler and smarter. From comparing banks to explaining complex terms in plain English, we’ll help you avoid costly mistakes and find a loan that supports your lifestyle now and in the future. Buying your first home doesn’t have to feel overwhelming. With the right guidance, it can be a confident and exciting step forward. Let The Brokerage help you turn your home ownership goals into a reality.