First Home Buyer Success Guide
Buying your first home in Brisbane, the Sunshine Coast, or anywhere in Queensland is exciting — but it can also feel overwhelming. From saving for your deposit to navigating Queensland’s property laws, there’s a lot to think about.
Here are 10 expert tips to help you prepare financially, avoid common mistakes, and buy with confidence.
1. Start budgeting like a home owner
Before you even start house hunting, practice living as if you already have a mortgage. This means factoring in estimated loan repayments, council rates, insurance, and maintenance costs.
💡 Pro tip: Use a mortgage repayment calculator to work out realistic figures and set up a dedicated high-interest savings account for your deposit.
A deposit of at least 20% of the purchase price can help you:
The more you save, the more options you’ll have when choosing both your property and your lender.
3. Minimise your debt before applying
Lenders in Brisbane will look closely at your credit history and any existing debts when assessing your application.
Clear high-interest debts like credit cards or personal loans before applying to improve your borrowing power.
4. Calculate all the costs of buying in Queensland
Don’t just save for your deposit — you’ll also need to budget for:
Failing to factor in these costs can cause settlement stress.
5. Stay within your purchase budget
Property prices in Brisbane suburbs can be competitive, so it’s easy to get caught up in bidding wars or emotional decisions. Get pre-approval before house hunting and stick to your maximum price to avoid mortgage stress.
6. Apply early for the First Home Owner Grant (FHOG)
In Queensland, eligible first-home buyers can access up to $30,000 (as of 2025) when purchasing or building a brand-new home. Applying early ensures you can use the grant towards settlement.
🔍 Visit the Queensland Government First Home Owner Grant page to check eligibility.
7. Take advantage of other Queensland incentives
Beyond the first home owner grant (FHOG), you might qualify for:
These incentives can significantly reduce your upfront costs.
8. Choose the right property for your lifestyle
Think about more than just price — consider:
9. Never skip a property inspection
A building and pest inspection is essential, especially in Queensland, where termites and weather damage are common risks. It could save you thousands in future repairs and give you negotiating power.
10. Get independent legal advice
A Brisbane conveyancer or property lawyer can review your contract to ensure there are no hidden clauses, easements, or risks. This step protects you before you commit to buying.
✅ Extra Tip: Speak to a local mortgage broker who understands the Queensland property market. They can help you access government grants, compare competitive home loans, and guide you through the entire buying process from pre-approval to settlement.
Explore all other options, such as:
Contact Your Home Loan Consultant
Contact us today on 0401 388 153 if you need help or advice before purchasing your first home.