FIRST HOME BUYER GUIDE IN AUSTRALIA (STEP-BY-STEP)
Your complete roadmap to buying your first home — from savings to settlement (2026)
Buying your first home is a huge milestone — exciting, rewarding, and yes, a little overwhelming. This guide from Jadefin breaks down every key step, government help you might be eligible for, and smart lending tips so you’re informed and confident throughout your journey.
A first home buyer is generally someone who has never owned residential property and plans to live in it. Being classified as a first home buyer can make you eligible for government support such as the First Home Owner Grant (FHOG), Home Guarantee Scheme, and stamp duty concessions, though eligibility rules vary by state.
The First Home Owner Grant (FHOG) is a one-off payment available for buying or building a new home. Depending on your state, this can be up to $30,000. The Home Guarantee Scheme allows eligible buyers to purchase a home with as little as a 5% deposit without paying Lenders Mortgage Insurance (LMI). Many states also offer stamp duty reductions or exemptions, which can save thousands of dollars upfront. In some cases, you may combine multiple schemes to maximize savings.
Before you start house hunting, it’s important to review your finances. Check your income, expenses, savings, and credit score. Factor in upfront costs such as legal fees, inspections, stamp duty, and moving expenses. Once your finances are clear, getting pre-approval for a home loan is a smart step — it shows sellers you’re serious and gives you a clear idea of how much you can borrow.
When looking for a property, research suburbs based on affordability, amenities, and lifestyle. Attend inspections, compare homes, and consider long-term value. Before making an offer, always do due diligence: get building and pest inspections and have a solicitor or conveyancer review the contract. When your offer is accepted, you’ll sign contracts and pay the deposit. On settlement day, the lender pays the seller, and you officially become a homeowner.
Some practical tips: work with a mortgage broker to find the best loan, budget for ongoing costs like insurance and rates, and avoid overstretching your finances. Even with low-deposit schemes, it’s important to plan for future repayments to stay financially comfortable.
Buying your first home is a big step, but with the right planning, knowledge of support schemes, and smart lending decisions, it can be a smooth and rewarding experience. At Jadefin, we help Australians make smarter lending decisions, ensuring confidence from day one.
