housing estate

Presently, the current market in Australia presents excellent opportunities for first-time home buyers. If you are considering buying your first property sometime soon, any mortgage consultant in Sydney will tell you to go and secure a loan as soon as you can.

For a while, the price of properties was on a continuous rise, and only recently have we seen a slowdown in the growth of prices. Value buying is still quite possible.

For instance, apartments are significantly cheaper than houses. Across all states, the value of homes had seen a rise of no less than 8.6% in the first four months of the year while the price growth for apartments is just 4.3%. This means you can find some excellent properties in the apartment market at affordable prices!

If that’s not reason enough, here are some of the benefits of taking a step towards buying your first home:

Home Loan Rates Are Below 2%

Home loan rates are at an all-time low, and according to the Reserve Bank, it is unlikely to rise significantly until after 2024. If you are a first-time homebuyer, that’s some good news, right? If you want to know specifically what you could be working with, Wealthy You has a team of lending specialists who can answer your queries and even process your preapproval for you. We can also match you with the most suitable loan to meet your specific needs.

The First Home Loan Deposit Scheme Allows You to Buy with Just a 5% Deposit

With the right scheme, a $500,000 property will only require a deposit of $25,000! You don’t even need a lender’s mortgage insurance for this!

Consider the First Home Loan Deposit Scheme to either build or buy a house and land package, an off-the-plan house, a newly-built home, or land and a separate contract for home building.

Note that FHLDS is not offered at all banks so make sure that you check with your broker to see if you are eligible for this and which lenders offer this scheme.

First Home Owner Grant Is Still Available

Because it’s been around for a long time now, first-time homebuyers tend to overlook the benefits of the First Home Owner Grant. It’s worth checking out though. Why? Well, for instance, in Victoria, first home buyers can get as much as $20,000FHOG. If you are eligible for this, you can put it forward as part of your deposit. That’s incredible savings right there!

Where Is It All Heading?

The future market is expected to be good for Aussie first home buyers but before prices rise eventually, it’s best to buy a home now. As history has shown, real estate has a record of growing prices long-term. You should also consider uncertainties. For instance, no one has anticipated the pandemic that started last year which has affected the market significantly.


Buying a home is no simple matter. It takes days, weeks, or months of thinking and making choices from choosing your broker and lenders to selecting the home you want to buy. However, you should also be aware of what the market is like and make your move when things are favourable for you because you’ll never know what the situation will be like in a few years!

You can ask for help from some of the best mortgage brokers in your area to help you through the process, including checking your eligibility for grants and schemes, and of course, finding the most suitable loan for you.

Wealthy You can help you find the best home loans in Sydney that will suit your needs. Our team will go the extra mile to ensure you’ll get the best solutions for your home-buying process. Get pre-approved for your mortgage loan today!