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First Home Buyer Guidance
Step by step help with grants, finance and floor plans, move into your first home sooner.
There’s nothing quite like the excitement of purchasing your first home. If you’re aiming to buy a property in 2026, building up your deposit is likely to be one of the biggest challenges. With thoughtful planning and consistent effort, you can make steady progress towards reaching your savings goal.
Below are a few practical tips to help you stay on track and work towards your deposit savings target.
The next step is to prepare a monthly budget. Doing this can give you a clearer picture of how much money you might be able to put aside each month.
Start by calculating your total monthly income after tax, then write down all of your expenses. Be sure to include ongoing costs such as rent, utility bills, insurance, and streaming subscriptions, along with occasional expenses like car repairs.
The first thing to do is determine how much you’ll need for your deposit. Take a look at the prices of properties selling in your preferred suburbs, then use those figures to estimate the size of the deposit you’ll need to save.
You may also want to explore the Australian Government’s 5% Deposit Scheme, which lets eligible first home buyers purchase a property with a deposit of only 5%. If you decide not to use the scheme, working towards a 20% deposit could help you avoid paying lenders mortgage insurance (LMI).
If you’re aiming to get closer to your savings goals, reducing discretionary spending may be necessary. This could involve cancelling your gym membership and choosing to exercise outdoors instead, borrowing books from your local library rather than purchasing new ones, or spending less on dining out and entertainment like streaming services.
You can also find ‘no spend challenges’ on social media, which encourage habits such as avoiding clothing purchases for a set period or eating out less often. Many people find these challenges useful for reassessing their spending habits and staying focused on their savings goals.
Some people look for opportunities to earn extra income while working towards their savings target. This could include tutoring, picking up extra hours at work, or starting a side project to bring in additional money.
You might also review belongings you no longer use, such as sporting equipment, musical instruments, or collectibles, and decide whether selling them suits your situation. Even smaller amounts can gradually add up and help you reach your savings goal over time.
Our Services
TPG Property Group supports Melbourne and Australia wide clients with land selection, finance, turnkey builds and long term strategy.
Step by step help with grants, finance and floor plans, move into your first home sooner.
Strategies for high growth suburbs, tax benefits and SMSF options that build wealth.
Low deposit options and competitive loans, with expert lender support and faster approvals.
Fixed price turnkey homes in Melbourne and Australia, fully finished and ready to move in.
Secure land in Melbourne growth areas, matched to your budget and lifestyle goals.
Stay in the suburb you love and upgrade to a modern, efficient new home.
Quality multi dwelling projects for lifestyle appeal and strong rental returns.
We manage design, permits, construction and handover, on time and on budget.
Trusted partners streamline contracts, settlements and loan approvals.
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