Your First Home Dream Starts Here
I still remember the couple I helped last month—Sarah and Tom, both 28, sitting in my office with a mix of excitement and terror on their faces.
"We've saved $60,000," Sarah said. "But houses are over $2 million. How is this even possible?"
Three weeks later, they had the keys to a beautiful 2-bedroom unit in Banksia. They used the First Home Buyer Assistance Scheme, paid zero stamp duty, and their deposit was just 5% thanks to the government guarantee.
This is happening every week in St George.
If you think homeownership is out of reach, I'm here to show you it's not. In 25+ years helping families buy property, I've guided hundreds of first-timers through this exact journey. Let me show you how.
The Money: What You Actually Need (It's Less Than You Think)
The Old Rule vs The New Reality
What Your Parents Needed:
- 20% deposit
- Stamp duty in cash
- Mortgage insurance
- 5% deposit (with government guarantee)
- $0 stamp duty (if you qualify)
- No mortgage insurance (with the right scheme)
- Purchase Price: $650,000
- 5% Deposit: $32,500
- Stamp Duty: $0 (first home buyer exemption)
- Legal Fees: ~$2,000
- Building Inspection: ~$500
- Total Upfront Cost: ~$35,000
- Purchase Price: $620,000
- 5% Deposit: $31,000
- Stamp Duty: $0 (first home buyer exemption)
- Legal Fees: ~$2,000
- Building Inspection: ~$500
- Total Upfront Cost: ~$33,500
- Purchase Price: $700,000
- 5% Deposit: $35,000
- Stamp Duty: $0 (first home buyer exemption)
- Legal Fees: ~$2,000
- Building Inspection: ~$500
- Total Upfront Cost: ~$37,500
- First home buyer (never owned property in Australia)
- Australian citizen or permanent resident
- Must live in the property for at least 6 months
- Property value under $800,000
- First home buyer
- Australian citizen or permanent resident
- Individual income under $125,000 (or $200,000 combined for couples)
- Property value under $800,000 in Sydney
- Make extra contributions to your super (up to $15,000 per year)
- Withdraw up to $50,000 (plus earnings) for your first home
- Tax benefits on contributions and withdrawals
- Under the $800,000 stamp duty threshold
- 5-minute walk to Rockdale station
- Quiet, residential streets
- Growing café scene
- 2-bedroom units: $600K-$700K
- Older-style apartments with renovation potential
- Some with parking and storage
- Most affordable suburb in St George
- Undergoing transformation
- Train station on doorstep
- Future growth potential
- 2-bedroom units: $580K-$680K
- Mix of older walk-ups and newer buildings
- Good rental yields if you need to move
- Major transport hub
- Established amenities
- 2km from Brighton-Le-Sands beach
- Strong rental demand
- 2-bedroom units: $650K-$750K
- Mix of older and modern buildings
- Close to everything
- Family-friendly
- Good schools nearby
- Shopping village
- Quiet streets
- Residential feel
- Close to Kogarah
- Parks and green spaces
- Growing community
- Check your credit score (get a free report)
- Gather 3 months of payslips
- Collect 3-6 months of bank statements
- Calculate your genuine savings (must be held for 3+ months)
- List any debts (credit cards, car loans, HECS)
- Know your exact budget
- Move quickly when you find the right property
- Negotiate with confidence
- Avoid heartbreak of falling in love with something you can't afford
- Combined income: $120,000
- Minimal debts
- 5% deposit saved
- Likely borrowing capacity: $650,000-$700,000
- Within your pre-approved budget
- Close to transport (you'll use it daily)
- Secure parking (essential in St George)
- Good natural light
- Reasonable strata fees (under $1,500/quarter)
- Strata fees over $2,000/quarter (why so high?)
- Major building works planned
- Structural issues in building report
- Noisy main roads
- No parking included
- You pay 0.25% deposit (holding deposit)
- Solicitor/conveyancer reviews contract
- Building and pest inspections completed
- Finance formally approved
- You exchange contracts and pay 10% deposit
- Cooling-off period starts (if private treaty)
- 10% deposit (e.g., $65,000 on a $650,000 property)
- Solicitor/conveyancer fees: ~$1,500-$2,500
- Building inspection: ~$400-$600
- Pest inspection: ~$200-$300
- Final loan approval
- Final inspection (check property condition hasn't changed)
- Transfer of ownership
- You get the keys!
- Mortgage: $3,200
- Strata: $500
- Council rates: $150
- Water: $70
- Insurance: $50
- Total: $3,970/month
- Loan amount: $617,500 (5% deposit)
- Interest rate: 6.5% (current average)
- Monthly payment: ~$3,900
- Strata fees: ~$450/month
- Council rates: ~$140/month
- Water rates: ~$60/month
- Contents insurance: ~$40/month
- Total: ~$4,590/month
- Monthly costs: $4,590
- Recommended gross income: $15,300/month
- Annual income: ~$183,000 (combined for couples)
- Rent: $600-$700/week = $2,600-$3,000/month
- No maintenance costs
- Flexibility to move
- Total costs: ~$4,590/month
- Building equity
- Stability
- Potential capital growth
- You have $35,000 saved
- Your friend has $35,000 saved
- Combined: $70,000 deposit
- Combined income: $160,000
- You can buy a $700,000 property together
- Arncliffe (transformation underway)
- Banksia (undervalued, great location)
- Carlton (quiet achiever)
- Paint (biggest impact, lowest cost)
- Kitchen (new benchtops, cabinet doors, appliances)
- Bathroom (new vanity, tiles, fixtures)
- Flooring (new carpet or floorboards)
- 2 years of tax returns
- ABN registration
- Business financials
- Accountant's letter
- Check credit score
- Start saving aggressively
- Research suburbs
- Attend open homes (just to look)
- Engage mortgage broker
- Get pre-approval
- Hire solicitor/conveyancer
- Narrow down to 2-3 target suburbs
- Attend open homes every weekend
- Make offers on suitable properties
- Get building inspections
- Negotiate
- Exchange contracts
- Final loan approval
- Final inspection
- Settlement
- GET THE KEYS!
- Mortgage brokers who specialize in first home buyers
- Solicitors who explain things in plain English
- Building inspectors who are thorough
- Tradespeople for pre-purchase quotes
- Your budget and borrowing capacity
- Which St George suburbs suit your needs
- Current market conditions
- Properties coming to market soon
- Off-market opportunities
What You Need in 2026:
Let me break down the real numbers for St George properties.
Real-World Examples: What You'll Actually Pay
Example 1: Unit in Banksia
Example 2: Unit in Arncliffe
Example 3: Unit in Rockdale
The Bottom Line: With $35,000-$40,000 saved, you can realistically buy in St George.
💰 Calculate Your Buying Costs
See exactly what you'll pay upfront for any property price
Buying Costs Calculator →NSW First Home Buyer Assistance: Your Secret Weapons
1. First Home Buyer Assistance Scheme (Stamp Duty Exemption)
What It Is: Complete exemption from stamp duty for eligible first home buyers.
Who Qualifies:
What You Save:
| Property Price | Stamp Duty Saved |
|---|---|
| $600,000 | $24,240 |
| $650,000 | $26,990 |
| $700,000 | $29,740 |
| $750,000 | $32,490 |
| $800,000 | $31,190 |
Real Talk: This is FREE MONEY. A $650,000 unit saves you nearly $27,000 in stamp duty. That's a year's worth of savings for many people.
🧮 Calculate Your Stamp Duty Savings
See how much you'll save with NSW first home buyer exemptions
Stamp Duty Calculator →2. First Home Guarantee (5% Deposit Scheme)
What It Is: Federal government guarantees your loan, allowing you to buy with just 5% deposit and avoid Lenders Mortgage Insurance (LMI).
Who Qualifies:
What You Save: LMI on a $650,000 property with 5% deposit would typically cost $15,000-$20,000. You pay $0.
The Catch: Limited places available (10,000 nationally per year). You need to move fast when you find the right property.
Pro Tip: Work with a mortgage broker who knows this scheme inside-out. I can connect you with brokers who've successfully secured dozens of these guarantees for my clients.
3. First Home Super Saver Scheme
What It Is: Withdraw voluntary super contributions to use as a house deposit.
How It Works:
Who It Suits: People with 1-3 years before buying who want to boost their deposit faster.
The Most Affordable St George Suburbs for First Home Buyers
I've sold properties in every St George suburb. Here's where first home buyers are actually succeeding in 2026.
Tier 1: Most Accessible Entry Points
Banksia (Median Unit Price: $645,000)
Why It Works:
What You'll Get:
The Vibe: Understated, residential, convenient. Not flashy, but solid value.
First Timer Success Story: I helped Emma (29, teacher) buy a 2-bed unit here for $635,000. She paid $31,750 deposit, zero stamp duty, and her mortgage is less than she was paying in rent. Two years later, it's worth $680,000.
Arncliffe (Median Unit Price: $620,000)
Why It Works:
What You'll Get:
The Vibe: Emerging, multicultural, improving. Not pretty yet, but smart buyers see the potential.
Watch This Space: Major developments coming, new cafes opening, demographic shift happening. This is where savvy first-timers are buying now.
Rockdale (Median Unit Price: $700,000)
Why It Works:
What You'll Get:
The Vibe: Convenient, busy, practical. You're buying location and transport.
Read our full Rockdale Suburb Guide for more details.
Tier 2: Stretch Suburbs (If You Have More Saved)
Kingsgrove (Median Unit Price: $750,000)
Why It Works:
What You'll Need: Closer to $40,000 deposit, and you'll pay some stamp duty (concession applies up to $1M).
Carlton (Median Unit Price: $700,000)
Why It Works:
The Step-by-Step First Home Buying Process
I've walked hundreds of first-timers through this. Here's exactly what happens.
Step 1: Get Your Finances Sorted (2-4 weeks)
Action Items:
Pro Tip: Pay off credit cards or reduce limits. Even if you don't use them, lenders count them against your borrowing capacity.
📊 How Much Can You Borrow?
Estimate your borrowing power based on your income and expenses
Borrowing Capacity Calculator →Step 2: Get Pre-Approved (1-2 weeks)
Why This Matters:
Borrowing Capacity Example:
Step 3: Start Your Property Search (2-8 weeks)
Must-Haves:
Red Flags:
My Search Strategy: 1. Attend open homes every weekend (yes, every weekend) 2. Visit suburbs at different times (weekday morning, Saturday afternoon, Sunday evening) 3. Talk to neighbors (they'll tell you things agents won't) 4. Check sold prices on nearby properties 5. Get building and pest inspections (always, no exceptions)
Step 4: Make an Offer (1 day - 1 week)
Auction vs Private Treaty:
| Auction | Private Treaty |
|---|---|
| Set date and time | Negotiate directly with agent |
| Competitive bidding | 5-day cooling-off period (NSW) |
| No cooling-off period | More time to arrange finance |
| Ready to exchange immediately | Less pressure |
First Timer Tip: Private treaty is usually less stressful for first home buyers. You have time to think, get advice, and arrange everything properly.
Step 5: Exchange Contracts (1-2 weeks)
What Happens:
Costs at Exchange:
Critical: Don't skip building and pest inspections. I've seen buyers save tens of thousands by discovering issues before exchange.
Step 6: Settlement (4-6 weeks after exchange)
What Happens:
The Big Day: Settlement usually happens around midday. Your solicitor will call to confirm it's done, then you can collect keys from the agent.
Emotional Reality Check: You'll feel excited, terrified, and overwhelmed all at once. This is completely normal. Every first home buyer feels this way.
Common First Home Buyer Mistakes (And How to Avoid Them)
Mistake #1: Buying at the Top of Your Budget
The Problem: You get approved for $700,000, so you buy a $700,000 property. Then interest rates rise, or you have unexpected expenses, and you're struggling.
The Solution: Buy $50,000-$100,000 below your maximum. Give yourself breathing room.
Mistake #2: Skipping Building Inspections
The Problem: "It looks fine, and we're trying to save money."
The Solution: Spend $500-$800 on inspections. It could save you $50,000 in repairs.
Real Example: First-time buyers almost bought a unit with major concrete cancer. The $600 building inspection revealed $80,000 in repairs needed. They walked away and found a better property.
Mistake #3: Ignoring Strata Fees and Ongoing Costs
The Problem: You focus on the mortgage payment and forget about strata fees, council rates, water, insurance, and maintenance.
The Solution: Calculate total monthly costs:
Mistake #4: Not Having an Emergency Fund
The Problem: You use every dollar for the deposit and have nothing left for emergencies.
The Solution: Keep $5,000-$10,000 in savings after settlement. Hot water systems break, fridges die, and life happens.
The Money Talk: Can You Actually Afford It?
Monthly Costs for a $650,000 Unit
Mortgage Payment:
Other Costs:
🏠 Calculate Your Repayments
See weekly, fortnightly or monthly mortgage repayments
Mortgage Repayments Calculator →What Income Do You Need?
Lenders typically want your mortgage to be no more than 30% of your gross income.
But Wait: Many first home buyers are spending 35-40% of income on housing. It's tight, but doable if you're disciplined.
Comparison: Renting vs Buying
Renting a 2-Bed Unit in St George:
Buying a 2-Bed Unit in St George:
The Difference: You'll pay $1,500-$2,000 more per month to own vs rent. But you're building equity, not paying someone else's mortgage.
Smart Strategies for St George First Home Buyers
Strategy #1: Buy with a Friend or Sibling
How It Works: Two first home buyers pool deposits and borrowing capacity.
Example:
Strategy #2: Buy in an "Emerging" Suburb
The Concept: Buy in Arncliffe or Banksia today at $620K-$650K. In 5 years, it's worth $750K-$800K. You've built $100K+ in equity.
My Picks for 2026:
Strategy #3: Buy a "Renovator's Delight" (If You're Handy)
The Concept: Buy an older, dated unit for $580K. Spend $30K on cosmetic renovation. It's now worth $650K+.
What to Renovate:
Real Example: First-time buyers bought a dated 2-bed unit in Rockdale for $590K. Spent $25K on cosmetic updates. Revalued at $650K six months later. They've built $60K in equity.
Frequently Asked Questions
Can I buy with less than 5% deposit?
Technically yes, but practically difficult. Some lenders offer 2-3% deposit loans, but you'll need a guarantor (usually parents) and pay higher interest rates. The 5% First Home Guarantee is your best bet.
What if I've owned property overseas?
You may still qualify for NSW first home buyer benefits if you've never owned property in Australia. Check with your solicitor and the Revenue NSW website for specific eligibility.
Should I buy now or wait for prices to drop?
The honest answer: No one knows what the market will do. If you wait for the "perfect" time, you might wait forever.
My 25-year observation: People who bought "at the wrong time" 10 years ago are still way ahead of people who waited for the "right time" and never bought.
What if I'm self-employed?
You can still get a loan, but you'll need:
Self-employed borrowers often need a larger deposit (10-15%) and face more scrutiny, but it's absolutely doable.
Should I buy alone or with my partner?
Financially: Buying together gives you more borrowing power.
Legally: If you're not married, consider a "co-ownership agreement" that outlines what happens if you break up.
My Advice: Have the uncomfortable conversation before you buy. What happens if you split? Who keeps the property? How do you divide equity?
Your First Home Buyer Action Plan
Month 1-2: Preparation
🛠️ Essential First Home Buyer Calculators
Use these free tools to plan your purchase:
Month 3: Get Serious
Month 4-6: Active Search
Month 7: Exchange & Settlement
Why First Home Buyers Choose to Work with Me
In 25+ years, I've helped hundreds of first-timers buy their first property. Here's what I bring:
Local Knowledge: I know which buildings have issues, which streets flood, which properties are overpriced, and which are genuine opportunities.
Honest Advice: I'll tell you if a property is wrong for you, even if it means losing a sale. My reputation is built on trust, not transactions.
Connections:
No Pressure: You're making the biggest financial decision of your life. I'm here to guide, not push.
Proven Track Record: 500+ families helped. Countless first-timers who are now homeowners.
Ready to Start Your First Home Journey?
The first step is always the hardest. But once you take it, everything else follows.
Let's have a no-obligation chat about:
📞 0411 818 171 📧 [email protected] 🏢 Shop 1/343 Bay St, Brighton-Le-Sands NSW 2216 🔗 Book a consultation
Recognised | Respected | Recommended — Helping St George families (including first-timers) for over 25 years
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