While 20% is the "gold standard" to avoid , several 2026 schemes let you enter much sooner:
Pay down high-interest credit cards or car loans. Lenders calculate your borrowing power based on your total credit limits, even if the balance is zero. help buying a home for the first time
You can use voluntary super contributions (up to $50,000) to save for your deposit more tax-effectively than a standard savings account. 3. Budget for the "Hidden" Costs While 20% is the "gold standard" to avoid
Here is a step-by-step guide to navigating your first purchase, from saving that first dollar to picking up the keys. You only need a 2% deposit, but you
A shared equity program where the government contributes up to 40% for new builds or 30% for existing homes . You only need a 2% deposit, but you will share future capital gains with the government.
Buying your first home in Australia is a huge milestone, but the process can feel like a maze of paperwork, jargon, and financial stress. In 2026, the market has shifted, and so has the help available to you.