Starting your home ownership journey?
Buying your first home is exciting — but it can also feel overwhelming. From saving your deposit to choosing the right loan, there’s a lot to think about. At AMI Home Loans, we specialise in helping first home buyers navigate the process with clarity and confidence.
Here are our top tips for making your first home purchase as smooth and successful as possible:
1. Know Your Budget (And Stick to It)
Before you fall in love with a property, get a clear understanding of how much you can borrow — and what repayments will look like. A good broker (like us!) will help you work out a realistic borrowing range based on your income, expenses, and goals.
2. Get Pre-Approval Early
Loan pre-approval gives you a clear picture of your borrowing power and shows sellers you’re serious. It’s not a guarantee, but it’s a smart early step that can save time and help you bid with confidence.
3. Understand the First Home Buyer Schemes
There are several government incentives available to help first home buyers, including:
First Home Owner Grant (FHOG)
Stamp Duty Concessions
First Home Guarantee (low deposit options)
We’ll walk you through what you’re eligible for and help you apply — so you don’t leave money on the table.
4. Think Long-Term, Not Just First Step
It’s easy to get caught up in the excitement of buying, but try to choose a property that fits your needs for the next 5+ years. Think about growth areas, proximity to work, schools, and lifestyle. Think about your personal circumstances, do you have large expenditure goals on the horizon (marriage, holidays, children), they don’t have to be show stoppers, we just need to create the right strategy to make it happen!
5. Consider All Costs (Not Just the Mortgage)
Owning a home comes with ongoing costs like council rates, insurance, strata fees (for units), and maintenance. Make sure your budget allows for these extras — not just the loan repayment.
6. Don’t Shop Alone — Use a Broker
Comparing loans across dozens of lenders, understanding fixed vs variable, offset accounts, LMI — it’s a lot. We break it down for you, find competitive options, and handle the paperwork.
And yes — our service is 100% free. We’re paid by the lender once your loan settles.
7. Stay Calm, Be Prepared
Markets can move fast, and emotions run high — especially at auctions. With the right plan and the right support team behind you, you’ll be able to make confident, informed decisions.