Resources for first home buyers

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Buying your first home can feel overwhelming. This page brings together helpful resources, explanations and tools to support you at every stage of your first home buying journey 

Online borrowing calculators can be a helpful starting point, but they rarely tell the full story. Most calculators use very basic assumptions and don’t account for real-life factors such as your living expenses, employment type, existing debts, future plans or lender-specific policies. Your true borrowing power can vary significantly from one lender to another, which is why a personalised assessment is so important before you start property hunting. 

When budgeting for your first home, it’s important to look beyond the deposit alone. Purchase costs can include stamp duty, legal fees, inspections, lender fees and moving costs, all of which add up quickly. A realistic budget also considers what your ongoing repayments will feel like in everyday life, so you’re not just approved for a loan, but comfortable maintaining it long-term. 

Improving your borrowing capacity often comes down to small, strategic changes rather than major sacrifices. Reducing existing debts, adjusting credit limits, cleaning up spending patterns and timing your application carefully can all make a meaningful difference. In many cases, choosing the right lender — one whose policies suit your circumstances — can be just as impactful as earning more income. 

HECS or HELP debt doesn’t reduce your credit score, but it does affect how much you can borrow. Lenders factor in compulsory repayment thresholds, which can lower your assessed borrowing capacity even if you’re not currently making repayments. The impact varies between lenders, so understanding how different banks assess HECS can help you make more informed decisions. 

A conveyancer or solicitor plays a critical role in protecting your interests during the purchase process. They review contracts, explain legal obligations, manage settlement and ensure the property is transferred correctly into your name. Having the right legal support in place early can help you avoid costly mistakes and give you confidence when signing important documents. 

Property contracts can include conditions such as finance approval, building and pest inspections, or settlement timeframes, all of which affect your rights as a buyer. Cooling-off periods allow you a short window to withdraw from a contract, although these rules vary by state and don’t always apply — particularly at auction. Understanding these details before signing can help you avoid unnecessary stress and financial risk. 

 Buying at auction and purchasing via private sale are very different experiences. Auctions usually require unconditional finance, meaning you need to be fully prepared before bidding, while private sales often allow conditions such as finance or inspections. Knowing the risks, timelines and emotional differences between the two can help you choose the path that best suits your confidence level and financial position.