First Home Buyer Checklist
A practical 10-step guide to buying your first home in Australia, with free indicative calculators along the way.
Check Your Borrowing Power
Estimate a broad borrowing range from your income, expenses and existing debts. The result is not a lender assessment or approval, so keep a separate repayment and purchase-cost buffer.
Calculate Borrowing PowerSave Your Deposit
Deposit requirements vary by lender, product and any guarantee or waiver. A larger deposit can reduce the LVR and potential LMI cost. Use the deposit savings calculator to test your own balance and contribution rate.
Plan Your DepositGet Pre-Approval
A conditional pre-approval can define a planning range, but it is not final approval. The lender may reassess income, debts, expenses, rates, property type and valuation before settlement.
Check Pre-Approval ExpiryResearch Concessions & Grants
First home buyer duty relief, grants, guarantees and shared equity programs have separate state or federal rules. Check contract dates, property limits, occupancy and applicant history with the relevant authority.
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.
Use the Inspection ChecklistCalculate 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
LMI may apply when the lender assesses a higher LVR, but policy, waivers and government guarantees differ. Treat an online premium as indicative and obtain the actual amount from the lender.
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
Before making an auction or private treaty offer, check finance conditions, have the contract reviewed, and complete the inspections relevant to the property. From July 2026, some property professionals may also request more customer information under expanded AUSTRAC rules.
Read the 2026 AUSTRAC UpdateSettlement
Before settlement, compare the property with the contract, agreed inclusions and any written repairs. Your conveyancer handles the legal transfer, your lender funds the loan, and you receive the keys after settlement is confirmed.
Use the Final Inspection ChecklistAlready opted into NSW property tax?
Revenue NSW began issuing 2026-27 First Home Buyer Choice property tax notices on 1 July. The closed scheme is separate from current first home buyer duty assistance.
Check the 2026-27 notice dates and ratesReady to get started?
The first step is knowing how much you can borrow. Try our free Borrowing Power Calculator.
Check Your Borrowing Power