First home buyers can buy with a smaller deposit than everyone else. The Australian Government 5% Deposit Scheme lets eligible first home buyers purchase with a 5% deposit and no lenders mortgage insurance, with no income cap and no limit on places. Help to Buy offers a shared equity option from a 2% deposit, and the First Home Super Saver Scheme lets you release up to $50,000 of voluntary super contributions toward a deposit. States and territories separately offer first home owner grants and stamp duty concessions. Check what you qualify for before you set your budget: it changes what you need to save.
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These are the federal schemes. Each has its own eligibility rules, and you apply through a participating lender rather than to the government directly.
Lets eligible first home buyers purchase with a 5% deposit while the government guarantees part of the loan, so no lenders mortgage insurance is charged.
The same guarantee for single parents and legal guardians of a dependent child, at a lower deposit. Previously called the Family Home Guarantee.
A shared equity scheme: the government takes an equity share in your home, so you need a smaller loan. Available in all states and territories.
Lets you make voluntary contributions to super and withdraw them, plus deemed earnings, to put toward a first home deposit.
The most you can pay for a property and still use the scheme. Whether an address counts as a capital city or regional centre is decided by postcode, so check the government's tool before you bid.
| State or territory | Capital city and regional centres | Rest of state |
|---|---|---|
| NSW | $1,500,000 | $800,000 |
| VIC | $950,000 | $650,000 |
| QLD | $1,000,000 | $700,000 |
| WA | $850,000 | $600,000 |
| SA | $900,000 | $500,000 |
| TAS | $700,000 | $550,000 |
| ACT | $1,000,000 | — |
| NT | $750,000 | $600,000 |
Source: firsthomebuyers.gov.au, checked 3 September 2026. Caps are indexed periodically.
First home owner grants and stamp duty concessions are set by each state and territory, change often, and depend on whether the home is new or established. Check the current rules with your revenue office rather than a summary.
Every buyer goes through these eight stages. Tick them off as you go, your progress is saved in this browser.
47 steps
Work out what you are actually buying and why. Buyers who skip this stage tend to bid on the wrong property at the right price.
The purchase price is not the amount you need. Stamp duty, legal fees, inspections and lenders mortgage insurance are all paid on top, mostly before you get the keys.
Pre-approval tells you what you can borrow and shows an agent you are a real buyer. It is a conditional answer, not a guarantee.
Two streets in one suburb can behave differently. Look at sold prices rather than asking prices, and visit at more than one time of day.
An open home is a sales environment. Go back a second time, and never rely on your own eyes for anything structural.
The rules differ sharply. A private treaty offer usually has a cooling-off period; a winning auction bid is binding on the spot, with no cooling off and no finance condition.
Everything you conditioned the contract on has to be satisfied inside its deadlines. Missing one can cost you the deposit.
The short administrative tail most checklists stop before. Doing it in the first fortnight avoids the expensive version later.
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Government charges, concessions and cooling-off rules change. Everything below was checked on 3 September 2026. Confirm the figures with the relevant authority before you commit to a purchase.
This checklist is general information, not financial, legal or tax advice. It does not account for your circumstances. Get advice from a licensed professional before acting on it.