🏡 First Home Buyer Step-by-Step Guide

Buying your first home? Let’s make it simple. Here’s a straightforward guide to help you go from saving your deposit to getting the keys, with Personalised Finance by your side every step of the way.

Step 1: Work Out Your Budget 💰

Before you fall in love with a home, know what you can afford.

  • Check your income and expenses

  • Use a borrowing power calculator

  • Save for upfront costs like deposit, stamp duty (if applicable), and legal fees

💡 Tip: With just a 5% deposit, you might be eligible for the First Home Guarantee and no Lenders Mortgage Insurance!

Step 2: Get Your Home Loan Pre-Approval 🏦

Pre-approval is like a green light from the bank.

  • Talk to a mortgage broker (like Hendy at Personalised Finance)

  • Compare lenders and interest rates

  • Get guidance on what documents you’ll need

📄 Why it matters: Sellers take you seriously when you’re pre-approved.

Step 3: Tap into Government Support 🎁

First home buyers in Australia can access some great incentives:

  • First Home Guarantee: Buy with just 5% deposit

  • First Home Owner Grant (FHOG): One-off payment for new homes

  • Stamp Duty concessions: Save thousands in eligible states

  • First Home Super Saver Scheme: Use your super to save faster

📝 We’ll help check your eligibility and apply on your behalf.

Step 4: Start House Hunting 🏘️

Time to find your future home!

  • Set your budget and stick to it

  • Focus on location, size, and future value

  • Go to open homes and ask lots of questions

📍 Pro tip: Think long-term. Can you grow into the property or rent it out one day?

Step 5: Make an Offer and Get It Accepted ✍️

Found the one? Let’s lock it in.

  • Make an offer through the agent

  • Organise a building and pest inspection (if needed)

  • Get help from a solicitor or conveyancer for contracts

  • Pay your deposit once the offer is accepted

🔒 Your loan will move from pre-approval to full approval now.

Step 6: Settlement and Moving In 🎉

You’re almost there!

  • Final paperwork gets sorted by your broker and legal team

  • On settlement day, the home officially becomes yours

  • Pick up the keys and move in!

📦 Don’t forget to organise insurance and set up your utilities.

Step 7: Live, Save, and Grow Your Wealth 🌱

Now that you own a home:

  • Keep a budget to manage repayments

  • Set savings goals for the future

  • Review your loan regularly, for example rates and needs can change

🏠 Long-term goal: Use your first home as a stepping stone to future investments.

Need Help? Let’s Talk 👋

At Personalised Finance, we specialise in helping first home buyers just like you. From planning your deposit to finding the right loan, we’ve got your back.

📞 Contact Hendy today to get started on your home ownership journey.