The TrueBuy buying guide

How to buy your first home in Australia

Six steps, in order, from working out your deposit to picking up the keys. Written for people buying their first place, with the parts agents would rather you skipped left in.

Free to read. No sign-up. Every figure is sourced and dated, because thresholds and grants change.

The six steps

  1. 1Where to startWork out what you can actually spend, what the government schemes change, and who you need on your side before you look at a single listing.9 min read
  2. 2Where to lookHow to shortlist suburbs on evidence rather than vibes, where the listings actually live, and how to read a price guide that is designed to move.10 min read
  3. 3Getting a loanPre-approval, deposit size, lenders mortgage insurance, brokers versus banks, and the difference between an approval you can bid on and one you cannot.11 min read
  4. 4Inspecting a propertyA room-by-room checklist, the questions agents do not expect, and the defects that cost real money after settlement.10 min read
  5. 5Making an offerPrivate treaty tactics, auction day, the pressure lines you will hear, and how to set a walk-away number you will actually hold.11 min read
  6. 6Contracts and settlementWhat is inside a contract of sale, what a strata report tells you, cooling-off by state, and the run to handover.12 min read

Before you decide to go it alone

Two pages on what representation is actually worth, and what it costs when nobody is checking the paperwork on your behalf.

What buying alone actually costsThe recurring ways unrepresented buyers lose money in Australia, what each one is worth, and the documented evidence behind them.Buyer's agent vs AI buyer's advocateWhat a good buyer's agent is genuinely worth, where the fee stops making sense, and how an AI advocate covers the same ground for a fraction of the cost.

Common questions

How much deposit do I need to buy a first home in Australia?

Twenty per cent of the purchase price avoids lenders mortgage insurance. Five per cent is enough if you qualify for the First Home Guarantee, where the government guarantees the gap and the insurance is waived. Either way you also need cash for stamp duty where it applies, legal fees, inspections and moving.

How long does buying a first home usually take?

Most first home buyers spend three to twelve months searching. Once your offer is accepted, settlement is commonly four to six weeks in New South Wales and Victoria and thirty to sixty days elsewhere, though the contract sets the actual date.

Do I need a buyer's agent to buy my first home?

No. Plenty of people buy without one. The question is whether you can do the three jobs a buyer's agent does: price the property from evidence, read every page of the contract and reports, and hold your position in the negotiation. This guide covers all three so you can decide where you want help.

What is underquoting and is it legal?

Underquoting is advertising a price guide the agent knows the property will not sell for. It is illegal in New South Wales and Victoria and penalties were increased sharply in 2026. It still happens, so treat any guide as a marketing number and check it against comparable sales.

Start with the free price check

Paste a listing and see the likely range against the guide. No account needed, no card.

Check a price guide - freeSee what $399 covers

Information, not legal advice. Confirm with your conveyancer before acting.