First Home Buyer Checklist — From Deposit to Keys (2026)

Phase 1 (Months 1–12): Set savings goal (20% deposit + 5% costs), open dedicated savings account, check credit score, understand your borrowing power, research FHB grants. Phase 2: Get pre-approval. Phase 3: Search, inspect, offer. Phase 4: Exchange to settlement.

What is the First Home Owner Grant and do I qualify?

The FHOG is a state government cash grant for first home buyers purchasing a new home. The amount varies: NSW $10,000 (new homes up to $600K), VIC $10,000 (regional new homes), QLD $30,000 (2023–2025 period).

Can I use the First Home Guarantee with any lender?

No — the First Home Guarantee is only available through participating lenders (35+). Apply through NHFIC or a participating lender directly.

What's the minimum deposit for a first home buyer?

As little as 5% with the First Home Guarantee. Without the scheme, anything below 20% triggers LMI. Most first home buyers aim for 10%–20%.