Question 1

How much deposit do I need for my first home in Australia?

Accepted Answer

It depends on the scheme — but you almost certainly need less than you think. The federal Australian Government 5% Deposit Scheme (formerly the First Home Guarantee) lets you buy with a 5% deposit — or 2% if you're a single parent — and no Lenders Mortgage Insurance (LMI) anywhere in Australia. State low-deposit lenders go even lower — Keystart (WA) and HomeStart (SA) start at 2%. On a $400,000 home, 2% is just $8,000 and 5% is $20,000. Traditional lenders typically require 10–20%, but there are multiple pathways to get in sooner.

Question 2

Can I use the FHOG as my deposit?

Accepted Answer

The $10,000 First Home Owner Grant (FHOG) cannot be used as your deposit in most cases, as it's typically paid at settlement or after construction is complete. However, it can help cover other costs like stamp duty concessions, settlement fees, or early mortgage payments. Some lenders may allow it to be factored into your overall financial position.

Question 3

What state-based low-deposit schemes exist, and am I eligible?

Accepted Answer

Most states have a government-backed low-deposit lender for first home buyers who can't save a large deposit: Keystart (WA, 2% deposit, $0 LMI), HomeStart (SA, 2–3% deposit), and MyHome (TAS, equity-share). Each has its own income caps and property price limits — for example, Keystart in WA caps singles around $155K and couples/families around $228K in Perth metro (limits are raised regularly). The federal 5% Deposit Scheme (formerly the First Home Guarantee) is available nationwide with a 5% deposit and has no income caps. We'll match you to the schemes you actually qualify for in your state.

Question 4

How long does it take to build a new home in Australia?

Accepted Answer

A typical new home build takes between 6 to 12 months from slab down to handover, depending on the builder, home design, state, and site conditions. The overall process from initial enquiry to moving in — including finance approval, land settlement, and construction — usually takes 9 to 18 months.

Question 5

What's included in a house and land package?

Accepted Answer

House and land packages typically include the land, home construction, and a standard set of inclusions such as flooring, window treatments, a landscaped front yard, fencing, and fixed site works. Premium packages may also include stone benchtops, ducted air conditioning, upgraded appliances, solar panels, and alfresco areas. Always check the full inclusion list with your builder.

Question 6

Do I need to pay stamp duty on my first home?

Accepted Answer

Most states exempt or reduce stamp duty for first home buyers. WA: from 7 May 2026, full exemption up to $600K with concessions to $800K statewide, and vacant land exempt up to $450K with concessions to $550K. NSW: full exemption up to $800K, concessions to $1M. VIC: exemption up to $600K, concessions to $750K. QLD: new builds fully exempt with no value cap, established homes exempt up to $700K with concessions to $800K. SA fully exempts new builds; TAS established-home buyers now pay standard duty (that exemption ended 30 June 2026); the ACT exempts eligible first home buyers on any property type. The savings can run into the tens of thousands — we'll calculate exactly what applies in your state.

Question 7

Can I buy an investment property with the FHOG?

Accepted Answer

No. The FHOG is only available for properties you intend to live in as your principal place of residence. You must move in within 12 months of purchase or completion of construction and live there continuously for at least 6 months. After that period, you're free to rent it out or sell.

Question 8

What happens if I can't move in within 12 months?

Accepted Answer

If you can't meet the 12-month residency requirement for the FHOG, you may need to repay the grant. However, extensions can be granted in certain circumstances, such as construction delays. It's important to contact your state revenue office (e.g. RevenueWA, Revenue NSW, State Revenue Office VIC) as early as possible if you think you might not meet the deadline.

Question 9

What's the difference between Launch Home and a builder?

Accepted Answer

Launch Home is not a builder — we're your guide and advocate. We help you navigate the entire home buying journey, from understanding grants and finance options to selecting the right house and land package from our trusted builder partners. Our service is completely free to you.

Question 10

Is Launch Home's service really free? What's the catch?

Accepted Answer

There is no catch. Seriously. We're paid by our builder partners when we successfully match a buyer with a home. This means you get grant expertise and personalised package matching — without paying a single cent. If you walk away, you owe us nothing. If you buy, you still owe us nothing. The builder pays us. That's it.

Question 11

What suburbs do you cover?

Accepted Answer

We cover house and land packages right across Australia — every state and territory, in every major capital city growth corridor and many regional growth areas. Whether you're looking in Sydney's western corridor, Melbourne's north or south-east, South-East Queensland, Adelaide, Perth, Hobart, Canberra or Darwin, we likely have options. Tell us where you want to live and we'll match you with builder partners in that area.

Question 12

Do I need pre-approval before contacting you?

Accepted Answer

Not at all. Many of our clients come to us before they've spoken to a bank. We can connect you with finance brokers who specialise in first home buyer products — the federal 5% Deposit Scheme (formerly the First Home Guarantee), state-based low-deposit lenders (Keystart, HomeStart, MyHome), and major bank packages. Getting pre-approved is one of the first steps we'll guide you through.

Question 13

What government grants are available for first home buyers in Australia?

Accepted Answer

First home buyers across Australia can access several benefits: the First Home Owner Grant (FHOG, amounts and caps vary by state — typically $10K–$50K for new builds, with the NT's HomeGrown Territory Grant at the top end), state stamp duty exemptions and concessions, state-based low-deposit lenders (Keystart in WA, HomeStart in SA, MyHome in TAS), the federal 5% Deposit Scheme (formerly the First Home Guarantee — 5% deposit, no LMI), and the federal Help to Buy shared equity scheme. Combined, these can save you $30,000 or more — we'll work out exactly what applies in your state.

Question 14

Is the First Home Guarantee still available? What is the 5% Deposit Scheme?

Accepted Answer

It's the same scheme under a new name. The First Home Guarantee (part of the former Home Guarantee Scheme) is now called the Australian Government 5% Deposit Scheme. It still lets eligible first home buyers purchase with a 5% deposit — 2% for single parents — with no Lenders Mortgage Insurance, and since 1 October 2025 there are no income caps and no limit on places. Location-based property price caps still apply, so the maximum you can spend depends on where you're buying. If you've been researching the 'First Home Guarantee', you're in the right place — nothing about your eligibility changed with the name.

Question 15

What is Help to Buy and can I use it?

Accepted Answer

Help to Buy is the federal shared-equity scheme: the government takes an equity share of up to 40% on a new home or 30% on an existing home, so you need a smaller loan and as little as a 2% deposit. Applications opened on 5 December 2025 and the scheme is now available in every state and territory. From 1 July 2026 the income limits are $103,000 for a single applicant and $165,000 for joint applicants or single parents, with 10,000 places available each financial year on a first-come, first-served basis. You apply through a participating lender, and property price caps apply by location. Note you're giving up a share of future capital growth in exchange for getting in sooner — we'll talk through whether that trade-off suits you.

Question 16

Can I choose my own block of land?

Accepted Answer

Absolutely. While our house and land packages come with pre-selected blocks, we can also help you find and secure your own block of land and match it with a suitable home design from one of our builder partners. This gives you more flexibility in choosing your exact location.

Question 17

What if my income is too high for state-based low-deposit schemes?

Accepted Answer

If your income exceeds the limits for state schemes like Keystart or HomeStart, you still have plenty of options. The federal 5% Deposit Scheme (formerly the First Home Guarantee) allows you to buy with just 5% deposit and no LMI (since 1 October 2025 there are no income caps and no limit on places), and many banks offer competitive first home buyer packages. We can connect you with a broker who will find the best loan product for your situation.

Question 18

How do I apply for the FHOG?

Accepted Answer

You can apply for the FHOG through your lender when you apply for your home loan, or directly through your state revenue office (RevenueWA, Revenue NSW, State Revenue Office VIC, etc.). Most people apply through their lender as it's simpler. You'll need to provide identification, proof of citizenship or permanent residency, and details about the property. Processing typically takes 3 to 6 weeks.

Question 19

Can I get a home loan if I have a HECS/HELP debt?

Accepted Answer

Yes — HECS/HELP debt does NOT disqualify you from a home loan. However, lenders do factor it into your borrowing capacity because it reduces your take-home pay. Repayments kick in once your income exceeds the threshold ($69,528 for the 2026–27 year) and, under the marginal system introduced from 1 July 2025, are calculated only on the income you earn above that threshold. State low-deposit lenders also account for HECS when assessing your application. We'll help you understand exactly how it affects your numbers.

Question 20

Can I buy if I'm on a casual or part-time income?

Accepted Answer

Yes, many of our clients are on casual or part-time income. Most lenders want to see at least 6–12 months of consistent employment history. State low-deposit lenders like Keystart and HomeStart are particularly flexible with casual and part-time workers. If you're a couple and one of you is full-time, that strengthens the application significantly. We'll assess your specific situation on the call.

Question 21

Will my car loan or credit card stop me from getting approved?

Accepted Answer

Not necessarily, but they do reduce your borrowing capacity. Lenders look at your total monthly commitments — car repayments, credit card limits (even if you don't use them), personal loans, Afterpay, and any other debts. A $10,000 credit card limit can reduce your borrowing power by $30,000–$50,000 even if the balance is zero. We often recommend closing unused credit cards before applying.

Question 22

How many dependents can I have and still qualify?

Accepted Answer

There's no hard limit on dependents, but each dependent reduces your borrowing capacity because lenders factor in higher living expenses. A single person with no dependents can typically borrow more than a couple with three kids on the same income. That said, families with 2–3 dependents get approved every week — it just affects the maximum amount. We'll run your exact numbers on the call.

Question 23

What credit score do I need to buy a home?

Accepted Answer

Government-backed lenders (like Keystart in WA and HomeStart in SA) don't have a strict minimum credit score like traditional lenders, which is one reason they're so popular with first home buyers. For mainstream lenders, a score above 600 is generally considered acceptable, and above 700 is strong. If you've had past credit issues (defaults, late payments), specialist lenders may still be an option depending on the circumstances. We can check your situation confidentially.

Question 24

Can I buy a home if I'm self-employed or on an ABN?

Accepted Answer

Yes, but the process is slightly different. Most lenders want to see 2 years of tax returns and financial statements for self-employed borrowers. Some specialist lenders accept 1 year. Government-backed lenders such as Keystart (WA) also accept self-employed applicants with adequate documentation. The key is having consistent income that you can verify. We work with brokers who specialise in self-employed lending.

Question 25

What are the hidden costs of buying a home that people miss?

Accepted Answer

The main costs beyond the purchase price include: settlement/conveyancing fees ($1,500–$2,500), building and pest inspections ($400–$600), loan application fees ($0–$600 depending on lender), home and contents insurance (from ~$1,200/year), council rates (~$1,500–$2,500/year), water rates (~$1,000/year), and connection fees for power/gas/internet (~$300–$500). For new builds, stamp duty is often zero and the FHOG covers a big chunk of these costs. We'll give you a full cost breakdown so there are no surprises.

Question 26

What's the difference between a state low-deposit lender and a normal bank loan?

Accepted Answer

State-backed lenders (Keystart in WA, HomeStart in SA, MyHome in TAS) are designed specifically for people who can't save a large deposit. The big differences: only 2–3% deposit required (vs. 5–20% at banks), zero LMI (saving you $8,000–$15,000), no monthly account fees, and more flexible eligibility. The trade-off is a slightly higher interest rate and income/property price caps. Most buyers start with one of these schemes and refinance to a bank once they've built enough equity — typically after 2–3 years.

Question 27

Can I make changes to a house and land package design?

Accepted Answer

It depends on the builder and how far along the build process is. Most builders allow cosmetic changes like colours, flooring, and benchtop selections at no extra cost. Structural changes (adding rooms, changing layout) are sometimes possible but usually come with additional costs and may delay the build. Some packages are fixed-price with no changes allowed — which keeps costs down. We'll clarify exactly what's flexible for each package you're interested in.

Question 28

What happens if the builder goes bust during construction?

Accepted Answer

Every Australian state and territory has mandatory home warranty / builders insurance for residential projects above a threshold (e.g. WA's Home Indemnity Insurance, NSW's Home Building Compensation Fund, VIC's Domestic Building Insurance, QLD's QBCC Home Warranty Scheme). This protects you if the builder becomes insolvent, dies, or disappears during construction. The insurance covers the cost of completing the build or rectifying defects, up to policy limits. All of our builder partners are fully licensed and insured.

Question 29

Is it cheaper to buy an existing home or build new?

Accepted Answer

In most Australian growth corridors, building new is actually cheaper when you factor in all the incentives. New builds qualify for the FHOG (existing homes generally don't), bigger stamp duty exemptions, and access to low-deposit schemes. An existing home could cost you $15,000+ more upfront in stamp duty alone compared to a new build at the same price. Plus you get a brand new home with modern inclusions, full builder warranty, and no hidden maintenance issues.

Question 30

How much are weekly repayments on a typical first home?

Accepted Answer

On a $400,000 home with a 2% deposit through a state low-deposit lender (after the FHOG is applied), your loan would be roughly $382,000. State low-deposit lenders sit above bank rates, so at around 7.5–7.9% that's approximately $615–$640 per week over 30 years. With a mainstream lender at 5% deposit and a competitive rate (the market ranged from about 5.7% to 6.9% in July 2026), repayments land around $510–$580 per week. Compare that to the national median rent, which hit a record of roughly $705 per week in 2026 — and remember, every dollar of your mortgage builds equity. Rates move, so we'll calculate your exact numbers on current pricing based on your income, deposit, and state.

Question 31

Can permanent residents (not citizens) get the FHOG?

Accepted Answer

Yes. Australian permanent residents are eligible for the FHOG in every state and territory, not just citizens. You must hold a permanent visa at the time of settlement or completion of construction. Temporary visa holders (e.g., 482, 485, student visas) are NOT eligible. If you're on a temporary visa and planning to get PR, it may be worth waiting until your permanent residency is granted before purchasing to access the grant.

Question 32

What if I've owned property overseas — can I still get the FHOG?

Accepted Answer

If you've owned residential property anywhere in Australia before, you're not eligible for the FHOG. However, owning property overseas does NOT disqualify you, as long as you've never owned a residential property in Australia. The grant is specifically about Australian property ownership history. If your partner has owned in Australia but you haven't, you may still be partially eligible — we can check your specific situation.

Every Question You're Too Afraid to Ask (Answered)

The Best Answer to Any Question? A 15-Min Call With Our Team.