06/10/2025
We’ve had dozens of chats with first home buyers this week, and here’s the truth:
✅ Yes, the government has expanded access
✅ Yes, you can now buy up to $1.5 million in Sydney
✅ Yes, income caps have been removed
But here’s the part no one’s talking about:
💡 It’s not really a 5% deposit
When you factor in:
• Stamp duty (which kicks in above $800k)
• Legal and conveyancing costs
• Bank fees and settlement adjustments
Your true upfront cost can look more like:
🔹 7.76% on a $900k home
🔹 9.64% on a $1.5M home
Is the scheme a good thing? Yes
Is it a 5% deposit scheme? Not exactly
👉 If you're a first home buyer, keep saving
The more you contribute, the more flexibility and savings you gain, especially on lender’s mortgage insurance
Want to know what this looks like for your situation? Reach out today and we’ll break it down.
Disclaimer: This is general information only and not financial advice. Please consider your personal circumstances before making decisions.
