The federal Help to Buy scheme launching in 2026 is a game-changer for first home buyers in Rockdale. But does it work for Rockdale's property market? Let me break down exactly what this means for you.
What Is the Help to Buy Scheme?
The Help to Buy scheme allows eligible first home buyers to purchase a property with just a 2% deposit, with the government contributing up to 30% equity for existing homes (40% for new builds).
Key Eligibility Requirements
- Income cap: $90,000 (singles) or $120,000 (couples)
- Property price cap: $950,000 in Sydney
- Must be: Australian citizen, 18+, first home buyer
- Owner-occupier: You must live in the property
- 1-2 bedroom apartments near Rockdale Station (T4 & T8 lines)
- Older-style units in established blocks
- Entry-level townhouses (limited availability)
- Refinancing
- Using savings
- Partial buy-down over time
How It Works in Rockdale
With Rockdale's current median unit price of $720,000, here's a real example:
| Component | Amount |
|---|---|
| Property Price | $720,000 |
| Your Deposit (2%) | $14,400 |
| Government Equity (30%) | $216,000 |
| Your Mortgage (68%) | $489,600 |
💡 What This Means: Instead of needing a $144,000 deposit (20%), you only need $14,400 to buy in Rockdale.
Which Rockdale Properties Qualify?
In Rockdale, most units fall under the $950,000 price cap. This includes:
The median house price of $1,650,000 exceeds the cap, so houses typically won't qualify unless significantly below median.
Rockdale's Unique Advantages for First Home Buyers
Transport & Commute
Rockdale Station (T4 & T8 lines) gives you direct CBD access. Rockdale is known as a multicultural dining hub with excellent transport links.
Schools in Rockdale
Local schools include Rockdale Public School, St Joseph's Primary, James Cook Boys High - important for young families planning ahead.
Lifestyle
Rockdale attracts young professionals and families seeking urban convenience.
Combining Help to Buy with Other Grants
Here's where it gets exciting. In Rockdale, you can potentially stack:
1. Help to Buy - 30% government equity 2. First Home Owner Grant (NSW) - $10,000 for new homes under $750,000 3. First Home Buyer Assistance Scheme - Stamp duty exemptions 4. First Home Super Saver Scheme - Use super contributions for deposit
Total Savings Example for Rockdale
For a $720,000 unit in Rockdale:
| Benefit | Saving |
|---|---|
| Reduced deposit requirement | ~$129,600 saved |
| Stamp duty exemption (if eligible) | ~$28,800 |
| Lower mortgage = lower repayments | ~$1,080/month |
The Fine Print: What You Need to Know
Repaying the Government Equity
When you eventually sell, you repay the government's 30% share at market value. If your property increases in value, so does their share.
Example: Buy at $720,000, government contributes $216,000. Sell at $864,000 (20% growth), you repay $259,200.
Buying Out the Government
You can buy out the government's share at any time through:
Is Rockdale Right for Help to Buy?
Rockdale is ideal for Help to Buy because:
✅ Multiple units under $950,000 price cap ✅ Strong capital growth potential (multicultural dining hub with excellent transport links) ✅ Excellent transport via Rockdale Station (T4 & T8 lines) ✅ Quality schools for future family planning ✅ Established amenities reduce living costs
My Advice for Rockdale First Home Buyers
After 25 years selling in Rockdale and surrounding suburbs, here's my recommendation:
1. Get pre-approved early - Know your budget before the scheme launches 2. Focus on quality locations - Walking distance to Rockdale Station 3. Don't rush - The scheme runs until 2034 (10,000 places annually) 4. Consider future needs - 2-bed units have better resale than 1-bed
Ready to Buy in Rockdale?
I've helped hundreds of first home buyers in Rockdale find their perfect property. Let's discuss how Help to Buy applies to your situation.
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