FIRST HOME BUYER GUIDE

Your first home, made clearer.

Buying your first home can feel like a lot of decisions at once. This guide breaks the journey into simple steps, so you can understand what to prepare before you make an offer.

Start the guide Calculate your numbers

General information only. Lending criteria, rates, fees and government rules can change.

YOUR HOME-BUYING ROADMAP

From idea to keys.

01PrepareBudget & deposit

02PlanLoan & costs

03SearchFind the right home

04BuyOffer & settlement

Open your checklist

THE JOURNEY

Seven steps to your first home.

Use this as a practical roadmap. You do not need to know everything before you begin.

Know your budget

Start with what you can comfortably afford rather than only looking at the maximum a lender may allow.

See the numbers

Build your deposit

Understand how much you have saved and what cash you may need beyond the deposit.

Allow for buying costs

Consider government charges, conveyancing, inspections, lender costs and other purchase expenses.

Understand pre-approval

A loan assessment can help you understand your borrowing position before you shop seriously.

Find the right property

Think about location, property condition, ongoing costs and whether the home fits your longer-term plans.

Make an offer

Before committing, understand the contract, conditions, deadlines and professional checks you may need.

Settlement & keys

Once the transaction completes, your lender and conveyancer help coordinate the final steps to settlement.

KNOW YOUR NUMBERS

It's not just the deposit.

Your upfront cash position can include more than the amount you contribute toward the property. Build your budget around the full picture.

Open loan calculators

DepositThe amount you contribute toward the purchase.

Government chargesApplicable duties, taxes or registration costs.

ConveyancingLegal and contract-related costs.

InspectionsProperty checks you may choose to arrange.

Lender costsFees or charges that may apply to your loan.

Moving & setupMoving, utilities, furniture and initial home expenses.

UNDERSTAND YOUR LOAN

Four numbers worth knowing.

Borrowing power

An estimate of how much you may be able to borrow based on your income, expenses, debts and lender criteria.

Interest rate

The rate affects the cost of your loan and therefore the repayments you need to budget for.

LVR

Loan-to-Value Ratio compares the amount borrowed with the property's value.

Repayment

Look beyond the headline loan amount and understand the regular repayment that fits your budget.

FIRST HOME CHECKLIST

Tick things off as you go.

Keep this list as your starting point. Your exact requirements will depend on your circumstances and the property you buy.

Your progress0%

Review my income, expenses and existing debtsGet a realistic picture of my current financial position. Work out my deposit and available cashSeparate the deposit from other money needed for the purchase. Estimate purchase costsAllow for applicable government charges and professional fees. Check my borrowing positionUse the calculator as an estimate and speak with a lender or broker. Research locations and propertiesCompare the property, area and ongoing costs—not just the asking price. Arrange professional checksConsider conveyancing, inspections and contract advice where appropriate. Review the contract before committingUnderstand your obligations, conditions and important dates. Plan for settlement and ongoing costsMake sure the budget still works after you get the keys.

FIRST HOME SUPPORT

Check what help may be available.

First-home buyer concessions and government programs can have specific eligibility rules, property limits and dates. Treat them as something to check carefully rather than assuming you qualify.

Eligibility can vary Thresholds can change State rules may differ

BEFORE YOU BUY

Questions worth asking yourself.

Can I comfortably afford the repayments—not just qualify for them?

Would my budget still work if interest rates or household costs changed?

How much cash will I have left after settlement?

Have I considered the property's ongoing costs and condition?

GUIDE FAQ

Before you rely on the plan.

There is no single deposit amount that applies to every buyer. The amount you need depends on the property, lender, loan structure, your circumstances and other purchase costs. Use the calculator as a starting point and confirm your position with a qualified professional.

Pre-approval is an indication from a lender about your potential borrowing position, subject to the lender's assessment, conditions and final approval. It can help you understand a realistic price range before you shop.

Depending on the purchase, costs can include applicable government charges, conveyancing, inspections, registration, lender fees and moving or setup costs. The exact amounts depend on your circumstances and the property.

No calculator should be treated as a final approval or quote. Results are estimates and actual repayments, fees, government charges and eligibility can vary. Confirm important figures with the relevant lender, government authority or qualified professional.

READY FOR THE NEXT STEP?

Turn your research into a plan.

Use the calculators for a starting estimate, then talk through your situation with SILAM Finance.

Open calculators Book an Appointment