First Home Buyer Checklist
Your complete 10-step guide to buying your first home in Australia — with free calculators at every stage.
Check Your Borrowing Power
Find out how much a lender is likely to offer you based on your income, expenses, and existing debts. This sets the realistic budget for your home search.
Calculate Borrowing PowerSave Your Deposit
Most lenders require at least a 5–20% deposit. A larger deposit reduces your Lenders Mortgage Insurance (LMI) costs and gives you access to better rates. Use our deposit savings calculator to set a target timeline.
Plan Your DepositGet Pre-Approval
A conditional pre-approval from a lender confirms your borrowing capacity and shows sellers you are a serious buyer. Pre-approvals typically last 3–6 months.
Research Concessions & Grants
Every state and territory offers first home buyer concessions, including stamp duty exemptions, First Home Owner Grants (FHOG), and shared equity schemes. These can save you tens of thousands of dollars.
Read First Home Buyer GuideBudget for All Purchase Costs
The purchase price is just the start. Factor in stamp duty, conveyancing fees, building and pest inspections, loan application fees, and moving costs.
Estimate Purchase CostsCalculate Stamp Duty
Stamp duty (or transfer duty) is often the largest upfront cost after the deposit. First home buyers may be exempt or receive a significant discount depending on the state and property value.
Calculate Stamp DutyCheck If You Need LMI
If your deposit is less than 20% of the property value, your lender will require Lenders Mortgage Insurance. LMI can add thousands to your upfront costs — but some government schemes can help you avoid it.
Estimate LMI CostCalculate Your Repayments
Understand what your monthly mortgage repayments will look like at different interest rates and loan terms. Make sure repayments fit comfortably within your budget.
Calculate RepaymentsMake an Offer
Whether buying at auction or via private treaty, make sure you have your finance arranged, contracts reviewed by a conveyancer or solicitor, and your building and pest inspection completed before committing.
Settlement
Settlement typically takes 30–90 days after exchange of contracts. Your conveyancer handles the legal transfer, your lender funds the loan, and you receive the keys to your first home.
Ready to get started?
The first step is knowing how much you can borrow. Try our free Borrowing Power Calculator.
Check Your Borrowing Power