First Home Buyer Guide Australia (2026)
Last updated: February 20, 2026
Direct Answer
Most first-home buyers need to budget beyond deposit. Upfront cash usually includes duty or concession impact, transfer fees, legal costs, and lender-related settlement charges.
Planning Checklist
- Estimate borrowing range before searching
- Compare 5%, 10%, and 20% deposit scenarios
- Check state-specific concession eligibility
- Include legal, inspection, and settlement costs
- Stress test repayments before offer stage
Deposit Benchmarks
- 5% deposit: faster entry, generally higher financing pressure
- 10% deposit: common middle-ground strategy
- 20% deposit: usually strongest risk and cost profile
FAQ
Do first-home buyers always pay zero stamp duty? No. It depends on state thresholds, eligibility rules, and property value.
Is pre-approval important? Yes. It improves pricing discipline and helps reduce contract risk.
Is deposit equal to total cash needed? No. You should include duty, legal, inspection, and settlement costs.
Sources
- State and territory first-home-buyer references
- ATO and public government tax guidance
- Public lender policy guidance