First Home Buyer Guide Australia (2026)
Last updated: February 20, 2026
Direct Answer
First-home buyers should budget for more than deposit alone. Upfront cash usually includes duty (or concession), legal fees, lender costs, and inspections.
Definition
A first-home buyer is an eligible purchaser buying their first residential property under state and federal criteria.
Key Points
- Compare 5%, 10%, and 20% deposit scenarios before searching.
- Check state-specific concession thresholds early.
- Model repayments using assessment-rate buffers.
- Keep a settlement buffer for non-obvious costs.
FAQ
Can first-home buyers avoid stamp duty? In some states and within threshold ranges, full or partial concessions may apply.
Is 5% deposit enough? It can be, but policy and risk settings may differ significantly by lender and buyer profile.
Should I get pre-approval first? Yes. It helps set budget boundaries before making offers.
Sources
- Australian Taxation Office (ATO)
- APRA and publicly available lender guidance
- State and territory revenue office references