Buying your first home in Brisbane?
It can feel overwhelming, but with the right steps and support, you can make smart, confident decisions. This first-time home buyers guide breaks down everything from saving for a deposit to government grants, hidden costs and tips for inspections. Backed by over 90 years of local experience, the Matthews Real Estate team is here to help you make your first move a smooth one.
Step-by-Step Home Buyer’s Guide for Brisbane First Home Buyers
Buying your first home is one of life’s biggest milestones – and one of the most exciting. But it can also be a bit daunting. Contracts, auctions, inspections, pre-approval, finance approvals… there’s a lot to wrap your head around.
That’s where a solid first time home buyers guide comes in.
If you’re looking to buy your first home in Brisbane, this guide will walk you through the home buying process from start to finish. You’ll get the need-to-knows (and the nice-to-knows) on budgeting, government support, property search strategies, and local insights. We’ll also flag the hidden costs beyond the purchase price that first-time buyers often miss.
And most importantly, this guide for first home buyers will help you learn how to buy with confidence – not confusion.
Step 1: Understand your budget and home loan options
Before you start scrolling listings or attending open homes, you need a clear idea of what you can afford.
Start by calculating your deposit. Most lenders require at least 10% of the purchase price, but 20% can help you avoid Lenders Mortgage Insurance, which can cost thousands.
You’ll also want to factor in these upfront costs:
- Stamp duty (though first home buyer concessions may apply)
- Conveyancing or legal fees
- Building and pest inspections
- Loan application and valuation fees
- Home and contents insurance
- Council rates and utility connections
- Moving costs and ongoing costs like maintenance
- Property taxes
Use online budgeting tools or speak with a mortgage broker to calculate your borrowing power and monthly mortgage repayments. Your home loan terms and interest rates will impact both your long-term affordability and flexibility.
“Many first-time buyers underestimate the upfront costs. Talking to a broker or local agent early can help you avoid surprises later on.” – Russell Matthews, Matthews Real Estate
Step 2: Government support for first home buyers in QLD
The Queensland Government offers several initiatives that can make your property purchase price more affordable. Here’s what to look into:
- First Home Owner Grant (FHOG): If you’re buying or building a new home valued under $750,000, you may be eligible for a $15,000 home owner grant.
- Stamp duty concessions: First home buyers purchasing a home under $550,000 (or vacant land under $400,000) may receive significant discounts or exemptions on stamp duty.
- Home Guarantee Scheme: A federal program that allows eligible buyers to purchase with as little as 5% deposit, without paying mortgage insurance.
Check eligibility criteria on the QLD OSR website and speak with a mortgage broker or conveyancer about how these can apply to your situation, potentially decreasing your home loan.
Step 3: Choosing your property purchase method
There’s more than one way to buy a home in Queensland. Here are the main sale types:
- Private treaty sale: The seller lists a price, and buyers can negotiate. You typically have a 5-business-day cooling-off period.
- Auction: No cooling-off period. If you’re the highest bidder above reserve, you sign the contract of sale on the spot.
- Tender: Less common. You submit one confidential offer for the property and wait for the seller’s decision.
Auctions can be stressful, especially for first-time buyers. Make sure your finance is pre-approved and you’ve done property inspections before bidding. At Matthews Real Estate, our agents can guide you through each method to help you choose the best path for your circumstances.
Step 4: House hunting in Brisbane’s property market
Now the fun part: searching for your dream home!
Brisbane has a range of great suburbs to consider, depending on your lifestyle and budget. At Matthews Real Estate, we often help buyers explore:
- Annerley – Inner-south, character homes, great transport links
- Moorooka – Affordable, family-friendly, leafy streets
- Fairfield – River access, strong community feel, close to the city
- Tarragindi – Popular with young families, elevated blocks, good schools
Use tools like domain.com.au and realestate.com.au to get a feel for pricing, and do some house price research to understand local property market conditions.
Remember to use local sold prices from the Matthews Real Estate website to help determine property values and make sure you’re ”comparing apples with apples” as they say.
Tip: Keep an open mind. Your perfect first home might not tick every box, but it should tick enough of the right ones for you.
Step 5: Due diligence before you commit
Before you make an offer, do the groundwork:
- Get a building and pest report – Essential to uncover any structural or pest-related issues.
- Pest inspection should always be conducted by a licensed professional.
- Review the contract of sale – Use a solicitor or conveyancer to check conditions, inclusions, and settlement date.
- Title searches – Confirm there are no encumbrances, easements, or restrictions.
At Matthews, we help first-time home buyers connect with trusted local professionals to ensure nothing is missed.
Step 6: Make your offer with support from a real estate agent
Once you’ve found a place you love and confirmed your borrowing capacity, it’s time to make your move.
For private sales, you can make an offer through the real estate agent, often with conditions (e.g. subject to finance, subject to inspection). The seller may accept, reject or counter your offer.
For auctions, have your initial deposit ready and make sure you’ve done all your checks beforehand – there are no conditions allowed after the gavel falls.
Your Matthews real estate team can guide you through negotiations, supplying you with comparable sold prices to help you secure a fair price.
Step 7: Finalising your property purchase
Once your offer is accepted, the contract is signed and a cooling-off period (if applicable) begins. During this time:
- Pay your deposit (usually 10%)
- Finalise your finance approval
- Organise building insurance
Settlement usually takes place 30–90 days later, depending on what’s agreed upon. This settlement period is where your legal team checks the final details and gets you ready to move.
Your solicitor or conveyancer will handle the title transfer and ensure all legal requirements are met. Once settlement is complete – the keys are yours!
Hidden costs and what to watch for
It’s easy to get caught up in the excitement of buying your first home, but don’t forget to budget for:
- Lenders Mortgage Insurance (if under 20% deposit)
- Stamp duty (minus any concessions)
- Legal and conveyancing fees
- Pest and building inspections
- Loan establishment and valuation fees
- Council rates, utilities, and land tax
- Furniture, ongoing costs, and moving expenses
Plan ahead so you’re not caught off guard.
Why choose Matthews Real Estate?
Buying your first home in Brisbane can feel like a lot to take in. But you don’t have to do it alone.
At Matthews Real Estate, we’ve been helping locals buy with confidence since 1933. From Annerley to Tarragindi and beyond, our team brings:
- Over 90 years of local knowledge
- Trusted relationships with brokers, solicitors and inspectors
- Down-to-earth, honest guidance
- Real family values in every interaction
We’ve helped generations of Brisbane families get their foot in the door. And we’re here to help you do the same.
“First home buyers don’t need more stress. They need clear, local advice and a team they can trust. That’s what we’re proud to offer.”
– Russell Matthews
Ready to take the first step?
Buying your first home is a big deal – but it doesn’t have to be a hard one.
Whether you’re just starting to start saving or ready to inspect properties, the team at Matthews Real Estate Annerley is here to help. With deep Brisbane roots and honest advice, we’ll guide you through every step of the journey.
Start your journey with a team that’s been doing it for generations.