How to Break Free from Renting & Secure Your Own Home
The Rental Crisis: Why Homeownership Has Never Been More Appealing
Rental shortages and rising rent prices have left many Australians feeling uncertain about their housing future. With affordability concerns growing, homeownership is becoming an increasingly attractive option.
The Australian Government is stepping in to assist, bringing forward the Regional First Home Buyer Guarantee by three months to October 1, giving regional buyers a boost in securing their first home.
But city buyers aren’t left out—there are multiple government-backed schemes that can help you buy a home sooner, reducing costs and increasing affordability.
Low-Deposit, No LMI Home Buyer Schemes
Save Thousands & Fast-Track Your Home Purchase
The Federal Government offers several low-deposit, no lenders mortgage insurance (LMI) schemes through the NHFIC, allowing buyers to enter the market 4 to 4.5 years earlier than if they had to save a standard 20% deposit.
Even better? Skipping LMI can save you between $4,000 and $35,000, depending on your deposit size and property price.
Here’s a breakdown of the available schemes:
✅ First Home Guarantee – Helps up to 35,000 first-time buyers purchase a home with as little as 5% deposit.
✅ Regional First Home Buyer Guarantee – Supports regional Australians to buy with 5% deposit, starting October 1.
✅ Family Home Guarantee – Helps single parents buy a home with just a 2% deposit.
📌 Eligibility and price caps apply, varying by location and year.
Stamp Duty Concessions
Avoid Costly Stamp Duty Expenses
Stamp duty is a major cost when purchasing property, but state governments provide concessions to help first home buyers save thousands.
🔹 Victoria: Exemptions or reductions on homes up to $750,000.
🔹 NSW: Assistance for homes up to $800,000.
🔹 QLD: First home concessions for properties under $550,000.
🔹 WA, TAS & NT: Stamp duty discounts for eligible buyers.
🔹 ACT: Threshold-based stamp duty reductions based on income.
💡 Want to find out if you’re eligible? Contact us at CBM Mortgages to explore stamp duty savings.
First Home Buyer Grants
Get Free Money to Buy Your Home
Most state governments (except ACT) provide First Home Owner Grants (FHOG) to help first-time buyers.
✅ Victoria & NSW: $10,000 for new homes up to $750,000.
✅ QLD & SA: $15,000 for new homes (value caps apply).
✅ TAS: Up to $30,000 for eligible buyers.
✅ WA & NT: $10,000 grants, with NT offering no income or value caps.
Now Is the Time to Buy
Why Acting Now Makes Sense
While property prices may dip temporarily, it’s still a buyer’s market—especially with government incentives making homeownership more affordable than ever.
However, many of these schemes—like the First Home Guarantee—have limited spots, and they get snapped up quickly. Read our dedicated Frist Home Buyers page here
Or Download our First Home Buyers pdf guide here
You can also read one of our many First Home Buyer blog posts here
📌 Want to go from renter to homeowner? Contact CBM Mortgages today—we’ll help you work out your borrowing options and navigate these government schemes.
Disclaimer
This article provides general information only and does not constitute financial advice. Always consult a qualified financial advisor or mortgage broker to assess your personal situation before making any financial decisions.
Written by Craig McDonald 14/06/2025
