First Home Buyers Guide Perth 2026: Your Complete Step-by-Step Roadmap

Buying your first home in Perth can feel like trying to solve a puzzle while the pieces keep changing shape. One minute you're excited about house hunting, the next you're navigating deposit requirements, stamp duty calculations, and suburb research-and it's enough to make anyone's head spin.

The encouraging news: buying your first home doesn't have to be overwhelming. With the right information, expert guidance, and a clear roadmap, you'll be holding those keys sooner than you think. At Home Group, we've helped thousands of first home buyers turn their dreams into reality, and we're here to walk you through everything you need to know about becoming a first home buyer in Perth in 2026.

Understanding Your Financial Starting Point

Before you start browsing house designs or falling in love with display homes, understanding where you stand financially is essential. While budgeting might not be as exciting as choosing your finishes, it's where your journey to home ownership truly begins-and we're here to make it straightforward.

How Much Can You Actually Borrow?

The amount you can borrow depends on several factors: your income, existing debts, living expenses, and your deposit size. Most lenders will assess your borrowing capacity using a serviceability calculator that takes all these elements into account.

Lenders assess several key factors when determining your borrowing capacity:

• Your gross annual income (before tax)
• Any regular additional income like rental payments or bonuses
• Existing debts like car loans, personal loans, or credit card limits
• Monthly living expenses including bills, groceries, and discretionary spending
• Your employment type and stability

As a general rule, most banks will lend you between 4.5 to 6 times your annual household income, though this varies significantly based on your individual circumstances.

The Deposit: Your First Major Hurdle

Traditionally, lenders want a 20% deposit to avoid paying Lenders Mortgage Insurance. On a $500,000 home, that's $100,000 upfront, which can feel impossible when you're starting out.

But here's where Perth first home buyers have some advantages. Through schemes like Keystart and the Home Guarantee Scheme, you can potentially buy with as little as 2-5% deposit without paying LMI. More on these options later.

Budget for the Complete Picture

Beyond your deposit, you'll need to account for these additional costs:

• Stamp duty (though first home buyers often get concessions)
• Building and pest inspections ($400-800)
• Conveyancing and legal fees ($1,500-3,000)
• Loan application and establishment fees ($600+)
• Moving costs and immediate furniture needs

A good rule of thumb? Save at least 5% of the purchase price on top of your deposit to cover these costs comfortably.

Perth's First Home Buyer Grants and Concessions

Western Australia offers some of the most generous first home buyer assistance in Australia. Understanding what you're entitled to can save you tens of thousands of dollars-and our team is here to help you access every concession available.

First Home Owner Grant Western Australia

The FHOG WA provides a $10,000 one-off payment to eligible first home buyers. Here's what you need to know:

The grant applies only to new homes, not established properties. This includes newly built houses, off-the-plan purchases, house and land packages, or building on vacant land. You can use the grant towards your deposit, reducing the upfront cash you need to find yourself.

For eligibility, the price caps matter. South of the 26th parallel (including Perth metropolitan areas), your total house and land package cannot exceed $750,000. North of the 26th parallel, that limit increases to $1 million. At least one applicant must be an Australian citizen or permanent resident, and you must live in the home for at least six continuous months within the first 12 months of settlement. You cannot have previously owned property anywhere in Australia or received a first home owner grant from any state or territory.

Stamp Duty Concessions: The Real Money Saver

Stamp duty relief is where Perth first home buyers see the most significant savings. The First Home Owner Rate provides concessional stamp duty for eligible buyers.

For established homes, if your property is valued up to $430,000, you pay zero stamp duty. If it's valued between $430,001 and $530,000, you'll receive a reduced rate on the amount over $430,000.

For new homes and house and land packages, no stamp duty applies if the dutiable value doesn't exceed $500,000. Between $500,000 and $700,000 in Metro and Peel regions, you'll pay $13.63 for every $100 over $500,000. Between $500,000 and $750,000 outside Metro and Peel regions, you'll pay $11.89 for every $100 over $500,000.

These concessions can save you anywhere from $10,000 to $30,000+ depending on your purchase price, which is significant money that can go towards your deposit or furnishing your new home.

The Home Guarantee Scheme: Your 5% Deposit Option

The Australian Government's Home Guarantee Scheme helps eligible first home buyers purchase with just a 5% deposit without paying LMI. The government essentially guarantees up to 15% of the property value, giving lenders the security they need to approve your loan.

To be eligible, you must be an Australian citizen or permanent resident, be at least 18 years old, earn below certain income thresholds, be a first home buyer (you and your partner haven't previously owned property in Australia), and use the property as your primary residence for at least 12 months.

Property price caps apply: $950,000 for Perth metropolitan areas and $600,000 for regional Western Australia. The scheme works with participating lenders including major banks, so you'll need to apply through them.

Keystart: WA's Low Deposit Solution

For West Australian first home buyers, Keystart offers one of the best pathways to home ownership. As a WA Government initiative, Keystart provides low deposit home loans specifically designed for those who might not meet traditional lending criteria.

The benefits are compelling. You can buy with as little as 2% deposit instead of the standard 20%. There's no Lenders Mortgage Insurance, potentially saving you thousands. You won't pay monthly account keeping fees. During construction, payments are capped at just $100 per week. You can refinance to another lender once you've built enough equity.

As of December 2024, Keystart's eligibility criteria have been updated with more generous limits. For Perth metropolitan areas, singles can earn up to $148,000 annually, while couples and families can earn up to $218,000. The property price cap has increased to $800,000 for Perth metro areas.

You must be an Australian citizen or permanent resident, live in Western Australia, not own another property at settlement, plan to live in the home for the duration of your Keystart loan, and have enough funds to cover all purchase costs including deposit and fees.

At Home Group, our in-house finance team has established strong partnerships with Keystart and other specialist finance providers. We take the stress out of navigating loan applications, making it easier for first home buyers to access these beneficial loan products when building a new home with us.

Choosing the Right Suburb: Where to Buy in Perth

Location is everything in real estate, and for first home buyers, finding the sweet spot between affordability, lifestyle, and growth potential is crucial.

Best Value Suburbs for First Home Buyers

Perth offers more affordability than Sydney or Melbourne, but some suburbs provide better value than others. Here are the standout areas for first home buyers in 2026:

Northern suburbs are showing strong growth. Butler offers coastal living with modern amenities, houses in the $300,000-$400,000 range, train links to Perth CBD, and strong family appeal with schools and shopping centres nearby. Alkimos presents beachside lifestyle without the premium price tag, new housing developments with contemporary designs, and good infrastructure development planned. Yanchep provides access to beaches and Yanchep National Park, affordable entry points for first home buyers, and growing community amenities and services.

The southern suburbs offer different advantages. Baldivis is family-friendly with established infrastructure, median prices still accessible for first home buyers, excellent schools and recreational facilities, and strong rental demand if you later decide to invest. Wellard has its own train station for easy commuting, modern housing estates with good amenities, shopping centres and community facilities, and houses in the $300,000-$400,000 range. Rockingham delivers genuine coastal lifestyle at affordable prices, established community with strong local economy, and good mix of houses and units for different budgets.

The southeastern suburbs present their own appeal. Armadale offers some of Perth's most affordable housing options, improving infrastructure and community developments, and good transport links via Albany Highway. Kelmscott provides heritage charm with modern developments, scenic surroundings near Darling Range, and strong value for money with room for capital growth.

For those wanting to stay closer to the CBD, consider Nollamara at just 8km from Perth CBD with median house prices around $380,000, good transport links and local amenities, and opportunity to buy in an established area affordably. Carlisle offers proximity to East Victoria Park's cafe strip, close to Curtin University and airport, and mix of houses and units under $700,000.

What to Look for in Your First Home Suburb

Beyond price, consider these factors that will shape your daily life:

• Proximity to employment hubs and your workplace
• Public transport connections
• Schools if you're planning a family
• Shopping centres and amenities
• Green spaces and recreational facilities
• Future infrastructure developments

Home Group builds across Western Australian suburbs that combine affordability with genuine lifestyle appeal. When you're exploring our house and land packages, our team can help you weigh not just the upfront price but the long-term liveability and growth potential of each area.

Melrose Platinum

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Lake Treeby Estate

Explore this Display

Prescott Platinum

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17m

Eden Beach Estate

Explore this Display

Your Step-by-Step Timeline from Pre-Approval to Keys

Understanding the journey ahead helps you prepare mentally and financially. Here's what to expect as a first home buyer in Perth.

Step 1: Get Your Finances in Order (1-12 months before)

Start by checking your credit score and fixing any issues. Save your deposit plus additional costs for fees and moving. Reduce existing debts where possible. Research grants and schemes you're eligible for. Calculate your realistic borrowing capacity.

Step 2: Secure Pre-Approval (2-4 weeks)

Pre-approval gives you a clear budget and shows sellers you're a serious buyer. Gather required documents including payslips, tax returns, bank statements, and identification. Apply through your chosen lender or mortgage broker. Receive conditional approval indicating how much you can borrow. This approval typically lasts 3-6 months.

Step 3: Start House Hunting (1-3 months)

Now the exciting part begins. For those building new with Home Group, this means choosing your home design and selecting your land:

• Visit our display homes across Perth to experience quality and design in person
• Research suburbs and visit at different times of day
• Compare house and land packages within your budget
• Consider both your current lifestyle needs and future plans
• Explore our range of award-winning designs, from single-storey homes to two-storey family layouts

Step 4: Make Your Decision and Reserve

Once you've found the right home design and land package, it's time to commit. Pay your reservation fee (typically $500-$2,000). Sign your building contract and land purchase agreement. Home Group's team will guide you through this process, ensuring you understand every aspect of your contracts.

Step 5: Finalise Your Finance (2-6 weeks)

Submit your formal loan application with all supporting documents. The lender conducts a property valuation. They provide formal loan approval. Review and sign loan documents. Apply for your First Home Owner Grant if eligible.

Step 6: Settlement and Construction (if building new)

For house and land packages, there are two settlements. First is land settlement, where you officially own the land and construction can begin. This typically takes 6-8 weeks after finance approval. Second is house settlement, which occurs after your home is built, usually 6-12 months later depending on the design.

During construction, you'll typically make progress payments at key stages. With Home Group, you'll have access to your My Build Assistant portal to track construction progress and communicate with your building team.

Step 7: Final Inspection and Keys

This is the moment you've been working towards:

• Conduct your final inspection with your Home Group builder
• Note any minor items for rectification
• Sign final documents and complete house settlement
• Receive your keys and step into your new home

Welcome home.

The entire process from first meeting with a builder to receiving your keys typically takes 9-15 months when building new, though this varies based on design complexity and site conditions.

Working with Home Group: Your Building Partner

At Home Group, we understand that buying your first home involves more than just choosing a floor plan. It's about creating a foundation for your future, and we're here to support you through every stage. As a multi-award-winning home builder with HIA and MBA recognition, we bring exceptional quality, innovative designs, and unparalleled customer service to every build.

Our First Home Buyer Services

Home Group offers comprehensive support specifically designed for first home buyers:

• Expert finance guidance - Our in-house finance team works with Keystart and specialist lenders to find the right loan structure for your situation
• Grant and concession assistance - We help you understand which First Home Owner Grants and stamp duty concessions you're eligible for
• Transparent building process - Our building team explains every step, from foundation to handover
• My Build Assistant portal - Track your construction progress in real-time and communicate with your building team
• Award-winning quality - Every home includes luxury features that other builders charge extra for

Flexible Design Options

Our range includes single storey homes perfect for first home buyers starting out, two-storey designs for growing families wanting to maximise land use, and narrow lot homes ideal for affordable land in growing suburbs. All designs can be customised to suit your lifestyle and budget.

With our $80k Luxury Inclusions and $60k Designer Inclusions packages, your first home doesn't mean compromising on quality. Stone benchtops, quality fixtures, and contemporary finishes come standard, giving you a home you'll love living in from day one.

Santa Fe

Single Storey

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10.5m

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Bologna

Single Storey

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2

10m

Explore this Design

Roma

Single Storey

4

2

2

12.5m

Explore this Design

Common First Home Buyer Questions Answered

Should I buy established or build new?

Building new with Home Group offers several advantages for first home buyers. You're eligible for the $10,000 First Home Owner Grant (not available for established homes). Everything is brand new with builder's warranty protection. You can customise the design to suit your needs. Energy efficiency means lower running costs. Modern layouts suit contemporary lifestyles.

Established homes offer immediate occupancy and established gardens and neighbourhoods. Consider your priorities and timeline when making this decision.

How long does it take to save a deposit?

This depends entirely on your income and expenses. With Keystart's 2% deposit requirement, you might only need $16,000 for an $800,000 property. Add another 5% for additional costs ($40,000), and you're looking at $56,000 total savings. If you can save $1,000 per month, that's roughly 4.5 years. Save $2,000 per month as a couple? You're there in about 2 years.

Can I use the First Home Owner Grant as my deposit?

Yes. The $10,000 FHOG can contribute towards your deposit requirement, reducing the amount you need to save yourself. Lenders including Keystart accept this.

What if I have defaults or poor credit history?

Some lenders, including Keystart, may still consider your application if you've had credit issues in the past. The key is demonstrating that your current financial situation is stable and sustainable. Speak honestly with a mortgage broker who can guide you to lenders more likely to approve your situation.

Should I use a mortgage broker?

For first home buyers navigating grants, schemes, and lender options, expert finance guidance is invaluable. At Home Group, our in-house finance team understands which lenders suit your situation, can access a wider range of products including Keystart and the Home Guarantee Scheme, and help with all paperwork and applications. We take the stress out of the finance process, often saving you time and money while ensuring you access every benefit available.

Making Your Move: Next Steps

Buying your first home in Perth in 2026 is genuinely achievable with the right preparation and guidance. The combination of competitive prices compared to east coast capitals, generous government grants and concessions, and innovative low deposit schemes like Keystart creates real opportunities for West Australian first home buyers.

The key is taking that first step:

• Assess your financial position honestly
• Research which grants and schemes you're eligible for
• Explore suburbs that match your lifestyle and budget
• Visit display homes to experience quality and design firsthand

At Home Group, we've helped thousands of first home buyers turn their dreams into reality. As a family-owned, multi-award-winning builder, we bring traditional values of honesty, integrity, and a genuine desire to exceed expectations to every build. Our team understands the Perth market, the finance options available, and how to make the building process as seamless and rewarding as possible.

Ready to begin your first home journey?

Visit our Perth display homes to see our award-winning designs in person, explore our house and land packages across Perth's growing suburbs, or contact our First Home Buyer specialists on 13 14 14 to discover how we can help you build your dream home sooner than you think.

Your journey to home ownership starts here. Connect with us today and see the Home Group difference.