First Home Buyer Support Sydney Inner West
Expert home loan advice, government grants, and tailored support for first home buyers in Sydney’s Inner West.
Where to start when buying your first home
1. Understand What You Can Afford
Take a close look at your finances, including income, expenses, and debts. Engage a broker to help you accurately know your borrowing capacity and monthly repayments. No guessing with a broker on your side!
2. Save for Your Deposit
Aim for a 20% deposit, but explore options like Lenders Mortgage Insurance (LMI) or the Home Guarantee Scheme for lower deposit requirements. Stick to a budget and save consistently to reach your goal.
3. Research the Market
Investigate property prices in your desired areas, attend inspections, and watch auctions to understand market trends and set realistic expectations. When you are buying your first home, research (and the support of your broker) is everything!
4. Get Pre-Approval
THE most important part, your golden ticket to start making serious offers. Secure a pre-approval from your lender to know your borrowing limit and show sellers you’re a serious buyer.
5. Find and Buy Your Home
Start house hunting for your first home with your pre-approval in place. Make offers wisely, ensuring they’re ‘subject to finance’ and inspections. Make sure your conveyancer is accross your contract and all the fineprint before putting that offer in
6. Finalize Your Loan and Settlement
Complete your loan application, review and sign documents, and arrange home insurance before settlement. Your conveyancer or solicitor will guide you through the final steps. We can connect you with the best in town!
Navigating Government Grants and Incentives
Family Home Guarantee Scheme
Family Home Guarantee
A one-time payment to assist with your first home purchase. In New South Wales, eligible first home buyers can receive a $10,000 grant for new homes valued up to $600,000.
Buy your own home with the Family Home Guarantee (FHG) with a deposit as small as 2% deposit and no Lenders Mortgage Insurance.
To be eligible you must:
Stamp Duty Concessions
Stamp Duty Concessions
Potential reductions or exemptions on stamp duty fees. In NSW, first home buyers purchasing a property valued up to $800,000 may be eligible for full exemption, with concessions available for properties valued between $800,000 and $1,000,000.
Find out about stamp duty costs and how it fits into your home loan journey.*
To be eligible you must:
First Home Guarantee
First Home Guarantee
An Australian Government initiative that allows eligible first home buyers to purchase a home with a deposit as low as 5%, without needing to pay Lenders Mortgage Insurance.
Buy your home with as little as 5% deposit and no Lenders Mortgage Insurance.
To be eligible you must:
First Home Owner Grant
First Home Owner Grant
A one-time payment to assist with your purchase. In New South Wales, eligible first home buyers can receive a $10,000 grant for new homes valued up to $600,000.
To be eligible you must:
*Application process and eligibility criteria varies by state or territory.
First Home Super Saver Scheme
First Home Super Saver Scheme
Use your super to help save for your deposit.
To be eligible you must:
Regional First Home Buyer Guarantee
Regional First Home Buyer Guarantee
Buy your first home in a regional area with a deposit of as little as 5%.
To be eligible you must:
Tips for Spending Less
Shop from your kitchen
Forget buying work lunches and organise lunch the night before. An average lunch costs $12, that’s $60 a week. You’ll potentially save around $2,880 a year.
DIY coffee or tea if you’re game
Drink the stuff they provide free at work. With savings of $25-$50 a week (depending on your current habit), who really needs “the perfect latte”?
Choose now to save the planet
Turn lights off when you leave a room, don’t leave electrical items on stand-by, and rug up or strip down so you use and pay for less heating or cooling.
Save on your home running costs
Make sure you’re not paying too much on home utilities (electricity, gas, internet and phone). Concierge Living can review all of your plans for free to make sure you’ve got the most competitive deal.
Navigating Government Grants and Incentives
Sydney Inner West Property Market Insights for First Home Buyers
Buying your first home in Sydney Inner West means entering a dynamic and diverse property market. Popular inner west suburbs such as Marrickville, Leichhardt, Newtown, and Balmain offer a variety of housing options, from charming terraces to modern apartments, ideal for first home buyers seeking lifestyle and convenience.
The Sydney Inner West area has seen steady growth in property prices, with median house prices reflecting strong demand. This region remains attractive due to its vibrant community, excellent transport links to the Sydney CBD, and proximity to schools and amenities.
Whether you are seeking an affordable home or looking at potential investment property, understanding the local property market is key. Our experienced mortgage brokers have extensive knowledge of the inner west Sydney market and can help you find the right home loan tailored to your financial situation.
Local Grants and Incentives Specifically for Sydney Inner West First Home Buyers
As an eligible first home buyer in New South Wales, there are several government incentives designed to make home ownership more accessible:
- First Home Owner Grant (NSW): Receive up to $10,000 when buying or building a new home valued up to $600,000 in Sydney Inner West.
- Stamp Duty Concessions: Eligible buyers may qualify for full or partial exemptions on stamp duty for properties up to $800,000, with concessions available up to $1 million.
- Family Home Guarantee: This scheme supports eligible buyers, including single parents, to purchase with as little as a 2% deposit and no Lenders Mortgage Insurance (LMI).
These grants and incentives, combined with a tailored home loan, can significantly reduce upfront costs. Our team helps you navigate and maximise these schemes to secure the best outcome for your first home purchase.
Why Choose a Sydney Inner West Mortgage Broker for Your First Home Loan?
Navigating the home loan process can be complex, especially for first home buyers in competitive areas like Sydney Inner West. A local mortgage broker brings valuable advantages:
- Expertise in Inner West Suburbs: We understand the nuances of the Sydney Inner West property market, including typical property prices, local lender preferences, and suitable home loan products.
- Access to Multiple Lenders: From big banks to specialist lenders, we compare options to find the right loan with competitive rates and terms.
- Maximise Government Schemes: We ensure you take full advantage of the Home Guarantee Scheme, First Home Owner Grant, and other assistance tailored for first home buyers.
- Personalised Support: From assessing your borrowing capacity to submitting loan applications, we guide you through every step.
Choosing a trusted mortgage broker with local market knowledge means a smoother journey to your dream home in Sydney Inner West.
Inner West Community & Lifestyle: A Perfect Place for First Home Buyers
The Sydney Inner West offers an unmatched blend of urban lifestyle and community spirit, making it ideal for first home buyers:
- Enjoy vibrant, multicultural suburbs with cafes, markets, and cultural events.
- Benefit from excellent schools, parks, and childcare facilities close to home.
- Convenient transport options provide easy access to the Sydney CBD and surrounding areas.
- The mix of heritage homes and new developments offers diverse housing choices for all budgets.
Owning a home in the Inner West not only means investing in a valuable property but also becoming part of a thriving, friendly community. Our team is passionate about helping buyers find the right home and make the most of the local lifestyle.
Hear From Our Clients
Lisa has a fantastic way of tuning into needs and ensuring we have confidence in our important decisions, through being well informed and not rushed. Lisa really made us feel assured and helped to break down any knowledge barriers, making us feel in control of our decisions. Thank you Lisa for your ongoing support and helping to build a positive future for our family!
Wayne Jones
From the moment you first meet, Lisa will be here to inform you, guide you and along with you, make your financial dreams come true. Sam Asadollahi recent experienced this when he asked Lisa to help him with purchasing his first property.
Sam Asadollahi
Got a dream? Lisa and her team can help you make it happen. I can’t think of a better person to have on my team to achieve my goals. Her hard work and determination bring results and she always has plan B and C (at least!) to make sure she can make things happen for you. Her team are excellent, keeping you well informed in the progress of negotiations and very responsive. I can’t recommend Lisa and her team enough!
Jennifer Hsu
Lisa was awesome in the way she carried out her services. She was fully engaged from the very first meeting in understanding our needs to then take us through options in the market and eventually help us choose the right product. The whole process was well defined and managed by Lisa and her team all the way till we settled. If you are on the lookout for a professional who knows the mortgage industry well, spends time to understand your needs and maintains a proactive communication at every step of the process, then Lisa should be your choice for a broker. I highly recommend the services of Lisa Bridgett and thank her for the efforts.
Babu Narayanan
It was an absolute pleasure working with Lisa on our loan financing. Lisa is extremely professional, dedicated and knowledgeable. We were very impressed with how responsive Lisa always was (and still is) to all our questions and we valued the fact that we could communicate with her outside of the normal working hours. We would recommend Lisa highly to anyone in need of mortgage financing.
Magda Louw
Lisa Bridgett is all about making her clients’ life easier! From the moment you first meet, Lisa is there to inform you, guide you and along with you, to make your financial dreams come true. Hear what her client Renee Vella has to say.