First home buyers: Why you need a plan (How to get one)

Why planning is key

Buying a home isn’t like buying a new phone or booking a holiday. It’s a huge financial decision, involving banks, contracts, inspections, and long-term commitments. And when there’s no roadmap, things can fall apart fast—missed deadlines, avoidable costs, stress, and sometimes missed opportunities.

• Set a realistic budget — Figure out how much you can afford to borrow based on your income, debts, and lifestyle—before you start house hunting. This avoids falling in love with homes out of reach.

• Know your deposit and grant options — Do you need 5%, 10%, or 20%? What’s the deal with lenders mortgage insurance (LMI)? Could the Home Guarantee Scheme, First Home Super Saver Scheme, or your state’s First Home Owner Grant help you get in sooner?

• Define your ideal locations and “must-haves” — Do you need to be close to work or family? Do you need space for pets, future kids, or work-from-home flexibility? Knowing your non-negotiables helps narrow your search.

• Track your progress and get clarity — Are you weeks, months, or a year away from buying? Are you feeling confident or unsure? A plan gives you clarity and reduces overwhelm—especially when life gets busy.

• Keep your support crew organised — You’ll likely work with a mortgage broker, property consultant, builder, solicitor, and more. Keeping their details (and your notes from each chat) in one place saves time and brainpower.

No plan yet? Don’t stress

We know this process can feel confusing—especially if it’s your first time. That’s why we’ve created a free Home Buyer Planner to help you get organised and feel confident.

This fillable template covers everything from budgeting and goals to grant checklists and key contacts. It’s simple, practical, and genuinely helpful.

Download free Home Buyer Planner

Common mistakes

Here are a few things we see all the time that could easily be avoided with better planning:

• Looking at homes before getting borrowing advice

• Underestimating the costs involved or exceeding budget

• Thinking it’s “too late” or “too hard” without exploring support programs

• Making emotional decisions instead of informed ones

• Getting discouraged too early—often buyers are closer than they think!

Start where you are

You don’t need to have a 6-figure deposit, market knowledge, or know all the answers. You do need a starting point, and our planner is a great way to get that ball rolling.

If you're unsure what steps to take next or want someone to guide you through it, we’re always happy to chat. Buying your first home should be exciting—not overwhelming.

Get started here