5 Essential Tips for First Home Buyers in 2025
Sydney’s First Home Buyers: Defying Market Challenges
Despite 13 cash rate hikes in just 18 months and an 8.1% rise in property prices in 2023, first-home buyers in Sydney’s Eastern Suburbs are staying determined.
According to the Australian Bureau of Statistics, the number of first-home buyer loans surged 20.3% last year—proving that determination pays off.
But buying your first home requires more than perseverance—it demands smart financial planning. Here are five essential tips to help you prepare for homeownership in 2025.
1. Partner with a Mortgage Broker from the Start
Navigating the home-buying process can feel overwhelming, especially for first-time buyers. A mortgage broker simplifies the journey by helping you:
✅ Understand loan approval requirements
✅ Plan for upfront costs
✅ Improve your financial position before applying
💡 Speak to a mortgage expert today and start your journey.
2. Strengthen Your Savings Strategy
Lenders assess your ability to manage repayments based on consistent savings habits.
🔹 Review your budget and eliminate unnecessary expenses
🔹 Increase savings contributions to strengthen your home deposit
🔹 The more you save, the less you’ll need to borrow
💡 Discover smart savings strategies for home buyers.
3. Reduce Your Credit Card Limit to Boost Borrowing Power
When reviewing home loan applications, lenders don’t just look at outstanding balances—they focus on your credit card limit.
📉 The average credit card limit in Australia is $9,500, according to Finder’s analysis of RBA data.
Lowering your credit limit can improve your borrowing power and help secure a better mortgage deal.
💡 Find out how credit limits affect your home loan.
4. Take Advantage of First Home Buyer Grants & Schemes
Government support programs can significantly reduce upfront costs for first-home buyers. Some key schemes include:
🔹 First Home Owner Grant (FHOG)
🔹 Stamp duty concessions
🔹 Home Guarantee Schemes
💡 Explore available first-home buyer grants.
5. You May Not Need a 20% Deposit
While a 20% deposit is ideal, you may be able to buy with less thanks to government-backed initiatives.
✅ The First Home Guarantee & Regional First Home Buyer Guarantee let eligible buyers purchase with just a 5% deposit—without needing Lenders Mortgage Insurance (LMI).
💡 Explore your low-deposit loan options for first home buyers.
Ready to Buy Your First Home? CBM Mortgages Can Help!
Buying your first home is exciting, but navigating the loan approval process can be complex.
At CBM Mortgages, we help first-home buyers:
✅ Compare loan options tailored to your needs
✅ Access government incentives to reduce upfront costs
✅ Secure competitive mortgage rates
📞 Contact CBM Mortgages today and take the next step toward homeownership!
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
Written by Craig McDonald 12/06/2025
