Sure, buying your first home might mean skipping a few weekend brunches, but let’s be real - it’s one of the smartest decisions you’ll ever make. Owning your own home sets you up for the future, giving you stability, security, and a place to truly call your own.
Like any big milestone, preparation is key. Here’s your five-step game plan to go from dreaming about your first home to holding the keys in your hand.
Step 1: Master the Art of Saving
Unless you’ve got a long-lost relative leaving you a fortune, saving for a home deposit takes commitment. The good news? It might be more achievable than you think.
With HomeSolution by Metricon, you have the ability to secure a home and land package with a low deposit. But you’ll need to show you’re financially ready by setting savings goals and sticking to them.
Pro tips to grow your savings faster:
- Set up an automatic transfer to a high-interest savings account.
- Cut back on non-essential expenses (yes, that includes daily café coffees - at least sometimes!).
- Pay off any outstanding debts to boost your borrowing power.
- Look for government grants that might fast-track your journey.
Want more savings tips? Read our guide here.
Step 2: Secure the Right Loan
Your deposit is just the beginning - you’ll need a mortgage to cover the rest. And just like comparing phone plans, it pays to shop around for a home loan that works for you.
Consider speaking with a mortgage broker who can help you:
- Find a lender that fits your financial situation.
- Maximise your borrowing power.
- Explain different loan types (fixed vs. variable rates, offset accounts, and more).
Metricon has partnered with Mortgage Domayne, experts in home lending, to help first-home buyers secure competitive loan options with expert guidance every step of the way.
Your lender will ultimately decide how much you can borrow, which helps shape your home-buying budget.
Step 3: Take Advantage of Government Support
Being a first-home buyer has its perks - especially when it comes to government incentives.
You could qualify for:
- The First Home Guarantee* – Buy with as little as a 5% deposit and avoid Lenders Mortgage Insurance (LMI).
- Stamp duty exemptions* – Save thousands by reducing or eliminating stamp duty costs in some states.
- First Home Owner Grants (FHOG)* – Some states offer cash grants to help fund your purchase.
*Terms, conditions & eligibility criteria apply.
Tip: Government schemes are limited, so act fast before spots run out!
Step 4: Find Your Dream Home
Now comes the fun part - choosing your home! Once you’ve got a clear budget, it’s time to explore your options.
With Metricon’s home and land packages, you get:
- Affordable designs tailored to first-home buyers.
- Quality construction backed by Australia’s leading home builder.
- Flexible layouts to suit your lifestyle and future plans.
Our New Home Advisors are here to help you find the best option without overextending your budget. Start exploring home designs here.
Step 5: Read Before You Sign
Buying your first home is exciting - but before you get carried away choosing paint colours, make sure you understand all the costs involved.
Hidden fees to watch out for:
- Lenders Mortgage Insurance (LMI) – Applies if your deposit is under 20%.
- Stamp duty – Varies by state (but first-home buyer exemptions may apply).
- Loan fees – Includes conveyancing, loan servicing, and other bank charges.
- Council rates – Ongoing costs you’ll need to budget for.
- Interest rates – Consider locking in a fixed rate to protect against rising costs.
Pro tip: Speak to an independent financial advisor to make sure you’re fully prepared.
Ready to Make Your First Home a Reality?
Becoming a first-home buyer doesn’t have to be overwhelming. With the right planning, expert advice, and a little discipline, you’ll be well on your way to owning a place of your own.
Enquire with us today to find out how Metricon can help you take the first step toward homeownership.
More: Our invaluable guide to all the terms first-home buyers need to know
