A shared equity program where the government contributes up to 40% for new builds or 30% for existing homes . You only need a 2% deposit, but you will share future capital gains with the government.
While 20% is the "gold standard" to avoid , several 2026 schemes let you enter much sooner: help buying a home for the first time
Pay down high-interest credit cards or car loans. Lenders calculate your borrowing power based on your total credit limits, even if the balance is zero. A shared equity program where the government contributes
Cancel unused subscriptions and reduce discretionary spending like frequent dining out. Lenders calculate your borrowing power based on your
Before you even look at a kitchen, you need to look at your bank statements. Lenders are more thorough than ever, often scrutinising the last three to six months of your spending.
You can use voluntary super contributions (up to $50,000) to save for your deposit more tax-effectively than a standard savings account. 3. Budget for the "Hidden" Costs
Here is a step-by-step guide to navigating your first purchase, from saving that first dollar to picking up the keys.