First Home Buyers
Buying your first home is one of life’s biggest moments — and we’re here to make it easy, exciting, and achievable.
Buying your first home can feel overwhelming — but with the right guidance and loan strategy, it doesn’t have to be. At Prince Capital, we help first-time buyers navigate every step of the process, from budgeting and grants to choosing the right lender.
Buying your first property is a huge milestone — and while the process can seem daunting, breaking it down into simple steps can make it much easier. Here’s what the journey usually looks like:
1. Understand your finances
Start by reviewing your income, expenses, and savings. Knowing what you can comfortably afford to repay each month helps you set a realistic budget.
2. Save for your deposit
Most lenders require a deposit of at least 5–10% of the property’s value. A larger deposit can give you access to more competitive interest rates and lower repayments.
3. Know your borrowing power
A mortgage broker like Prince Capital can help you determine exactly how much you can borrow, giving you confidence as you start your property search.
4. Explore grants and government schemes
You may be eligible for the First Home Owner Grant, stamp duty concessions, or the First Home Guarantee, which can reduce your upfront costs.
5. Get pre‑approval
Pre‑approval sets your maximum borrowing limit and shows sellers you’re a serious buyer, putting you in a stronger position when you make an offer.
6. Find your dream home
House‑hunt with confidence, knowing your budget and borrowing capacity. Consider location, lifestyle needs, and long‑term goals when choosing your property.
7. Choose the right home loan
With access to over 50 trusted lenders, we’ll compare hundreds of loans to find the one that best fits your needs — not just the bank’s offerings.
8. Finalise your loan and settle
Once your offer is accepted, we’ll take care of the paperwork, lender negotiations, and settlement details so the process stays smooth and stress‑free.
9. Enjoy ongoing support
Your journey doesn’t end when you get the keys. We’ll continue to review your loan to make sure it remains competitive as your life and the property market change.
Buying your first home is a big milestone—but it's easy to feel overwhelmed or make decisions based on emotion or urgency. As a mortgage broker who has worked with many first-time buyers across Sydney, I’ve seen a few common pitfalls that can slow down the process or cost you more than you expected. Here’s what to watch out for:
1. Not Getting Pre-Approval First
Jumping straight into house hunting without knowing how much you can borrow is a risky move. Pre-approval gives you a clear budget, strengthens your offer, and shows sellers you’re serious.
2. Overstretching Your Budget
Just because a lender approves you for a certain amount doesn’t mean you should borrow the maximum. Consider your lifestyle, future plans (like kids or career changes), and unexpected costs. Aim for a loan that keeps you comfortable, not just qualified.
3. Forgetting About Additional Costs
Stamp duty, legal fees, inspections, and moving costs all add up. It’s easy to focus only on the deposit and forget the rest. We’ll help you factor in all expenses so there are no surprises at settlement.
4. Overlooking Government Grants or Schemes
There are several first home buyer schemes available—like the First Home Owner Grant or the First Home Guarantee—but many buyers don’t know they exist or assume they’re not eligible. We’ll check if you qualify and help you apply.
5. Skipping Professional Advice
Online calculators and forums can be helpful, but nothing beats personal, tailored advice. A mortgage broker can walk you through the process, explain your options clearly, and negotiate with lenders on your behalf.
6. Letting Emotions Drive the Decision
Falling in love with a home can make you overlook red flags or rush into an offer. Try to stay practical—stick to your budget, do your due diligence, and take your time.
That’s exactly what we here for. We work closely with first home buyers to guide them through the loan process, answer questions without the jargon, and make sure they start their home ownership journey on solid ground.
Prince Capital Solutions Pty Ltd ABN: 24 147 935 055 is an Australian Credit License #426244
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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