Information for first home buyers
Ready to stop paying off your landlord’s mortgage and start paying off your own?
Saving
As a first homebuyer, the Government wants to help you get your foot through your own front door.
If you’re still saving, think about putting your money into a First Home Saver Account. With one of these high interest accounts, the government will contribute 17% on top of whatever you put in, up to a set limit. To see how you can grow your deposit, use our First Home Saver Calculator.
They'll also help you build your deposit with a generous First Home Owners Grant.
To boost your deposit even more, see where you could save a little extra every month with our Budget Planner.
Borrowing
If you’re working out how much you can afford and how much you can borrow, get some advice in How much you can borrow.
Then, for an estimate of what a lender might offer, enter some numbers into our Borrowing power calculator.
When you have an estimate you can see what your regular repayments might be using our Loan repayment calculator.
When doing the sums don’t forget to factor in all the extra costs that come with buying a new home.
Then read up on the different loans and features out there in the mortgage marketplace in the Buyers’ Guide:
Buying
Before you start hunting for your dream home, take a look at our house hunting tips in Finding your property.
Narrow your search to the areas you can afford with our 'Where can I buy?' search tool.
If the place you want is up for auction you should get familiar with the auction process before you head to the auction rooms.
When you find the home you want, be sure you understand all the paper shuffling required. Take a look at Steps to buying your chosen property.
And if you are at all confused about any of the terms you hear in the real estate world, take a look at our Jargon Buster for an explanation.