Start Your Property Journey
A guide for first home buyers in Australia
Buying your first home is one of the most exciting milestones in life. For many Australians, it is also the beginning of a long-term property journey that can lead to financial stability and future wealth.
At Heirs & Legacy Co, we help first home buyers understand the lending process, government incentives and loan options so they can step into the property market with confidence.
Our role is to simplify the process and structure lending solutions that support both your first purchase and your long-term financial goals.
Step 1: Understand Your Borrowing Power
Before starting your property search, it’s important to understand how much you may be able to borrow.
Your borrowing capacity depends on several factors including:
- income
- existing debts
- living expenses
- number of dependants
- credit history
Our borrowing power calculator can give you an estimate, but speaking with a broker will provide a more accurate assessment.
Step 2: Understand Your Deposit
Traditionally, lenders prefer a 20% deposit, but many first home buyers can purchase with a smaller deposit.
Options may include:
- 5% deposit with government support
- family guarantee options
- lender specific policies
We help you understand what options may be available based on your situation.
Step 3: Government Support for First Home Buyers
Depending on your eligibility, you may qualify for government support programs such as:
- First Home Guarantee Scheme
- First Home Owner Grant (state-based)
- Stamp duty concessions
These programs can significantly reduce the upfront costs of purchasing your first property.
Step 4: Loan Pre-Approval
A pre-approval gives you an indication of how much a lender may be willing to lend and can strengthen your position when making an offer on a property.
This step allows you to search for property with greater confidence.
Step 5: Finding the Right Property
Once your finance strategy is in place, you can begin searching for a property that fits your budget and lifestyle goals.
Many buyers choose to work with:
- real estate agents
- buyers agents
- conveyancers or solicitors
We can also connect you with trusted professionals through our strategic partnerships.
Step 6: Loan Approval and Settlement
Once your offer on a property is accepted, your loan moves through the formal approval process.
During this stage lenders will complete:
- property valuation
- document verification
- final loan approval
After approval, the loan will move toward settlement and the property will officially become yours.
Your First Home Is Only the Beginning
For many clients, purchasing their first home is the beginning of a longer property journey. At Heirs & Legacy Co, we aim to support clients through every stage — from their first home purchase to refinancing, upgrading and building an investment portfolio over time.
Ready to Start Your Property Journey?
If you're considering purchasing your first home, we can help you understand your options and structure a lending solution suited to your goals.