First home buyers in Australia: a first purchase, done properly.
Most first home buyers are handed a loan and left to figure out the rest. The grants, the structure, the insurance, the super review. Opes runs the whole thing as one file.
Buying a first home is more than the loan application.
There are six or seven decisions across grants, structure, lender, property, insurance and super that determine how the next ten years play out. They are usually made by three different parties who do not talk to each other.
The integrated thesis for first home buyers is the same as for property investors. The plan sets the brief. The broker pre-approves against that brief, often via a first home buyer loan with the FHG or FHSS in the picture. The property is found and settled inside the same workflow. Then the file is reviewed once a year.
For a first home buyer this matters more, not less. The mistakes are usually quiet and slow. Wrong loan structure, missed grant, no income protection, lapsed super contributions. None of them show up at settlement. All of them show up later. The long-form first home buyer guide walks through each piece in order.
How each discipline contributes.
Finance broking
Pre-approval, First Home Guarantee places, LMI options, and the loan structure that suits a first purchase rather than a last one.
Buyer's agent
Suburb research, shortlist, inspections and negotiation under a licensed national partner. Useful when the buyer is time-poor or interstate.
Financial planning
First-purchase budget, insurance, super review and the few decisions that quietly compound over the next ten years.
From grant check to settled and reviewed.
Three stages. The order matters more than most first home buyers realise.
Map the grants and the gap
We work through what is available in your state: First Home Owner Grant, First Home Guarantee, Regional FHBG, Family Home Guarantee, FHSS. Then we size the deposit gap honestly.
Pre-approval, then the search
Pre-approval in writing with a known lender. Loan amount, LVR and product on the page. The search begins after that, not before. The buyer's agent option is offered where it helps.
Settle, insure, review
Solicitor, lender and vendor agent kept in lock-step through to keys. Once settled, we run the insurance and super review that most first home buyers skip and later regret.
Common first home buyer questions.
The First Home Guarantee allows eligible first home buyers to purchase with as little as a 5 per cent deposit without Lenders Mortgage Insurance. Income caps, property price caps, Australian residency and a few other rules apply. We work through the eligibility with you on a written file rather than over the phone.
The First Home Owner Grant is a state-based cash grant, usually for new builds, with rules and amounts that differ by state. The First Home Guarantee is a federal scheme that guarantees the LMI portion of the loan. Many first home buyers use both. We walk through which applies in your state.
The First Home Super Saver Scheme allows eligible first home buyers to release voluntary super contributions, plus deemed earnings, to put toward a deposit. The mechanics are fiddly and the timing matters. It belongs inside the superannuation advice conversation, not after the contract is signed.
Sometimes yes, sometimes no. If the buyer is time-poor, interstate, or buying in a market they do not know well, the fee usually pays for itself in price negotiation and avoided mistakes. If the buyer has the time and the market knowledge, they do not need one. We will tell you which side of the line we think you sit on.
Allow two to three weeks for a written pre-approval, depending on the lender and how clean the supporting documents are. Pre-approvals are typically valid for ninety days and can be re-extended.
Most lenders will lend to 95 per cent LVR with Lenders Mortgage Insurance. The lower the deposit, the higher the LMI premium. We model both paths on paper so the cost of the LMI is visible against the cost of waiting another year to save. The stamp duty calculator and home loan calculator give you the working numbers up front.
The first six months matter. Building insurance, contents insurance, income protection if the loan would not survive a sick-leave gap, a basic will, and a super review. Most first home buyers skip these. We make them part of the engagement.
Where to read next
- First home buyer loansPre-approval, First Home Guarantee places, LMI options.
- Buyer's agent for first home buyersWhere a buyer's agent helps and where it does not.
- Home loansOwner-occupier loan structures more broadly.
- Financial planningInsurance, super and the first-purchase budget.
- Personal risk insuranceIncome protection, life and TPD cover for new owners.
- RefinancingWhat to think about at the two-year mark.
- First home buyer guideLong-form: grants, schemes, due diligence and settlement.
Ready to map the first purchase?
An initial conversation is free and obligation-free. Bring your questions about grants, deposits and timing.