A: If you plan to step off the rental treadmill and into your first home is one of your New Year’s resolutions for 2026, you’re not alone.

Around one in 10 properties sold in October was purchased by first-home buyers using the Federal Government’s 5% Deposit Scheme[i]. During that month alone, 5,778 first-home buyer guarantees were issued, while around 57,000 residential properties typically change hands across Australia each month. That momentum shows many first-home buyers are successfully making the leap into ownership. Moreover, the total number of Australians with an intention to buy a property increased to 19% in 2025, up 4% year-on-year[ii].

That said, buying a first property can feel daunting, but before heading to your first property inspection, breaking the process into clear, manageable steps makes it far more achievable.

Once you’ve made the decision to buy in 2026, the first step is to understand what you can realistically afford. Setting a clear home-buying budget is crucial because it narrows your search and helps you focus on properties that fit your financial comfort zone, rather than stretching yourself too far.

Rather than relying solely on guesswork or online calculators, it pays to have a quick chat with a financial specialist, such as Our Broker, early in the process. The good news is you don’t need to find a property before having this conversation. Rather, getting some clarity upfront can save you time, reduce stress, and put you in a strong position when the right property comes along.

A specialist from Our Broker, for example, can look at your income, savings, and expenses to help work out what you can comfortably borrow. When you add in your deposit, along with any government support, including potential stamp duty relief, you’ll have a much clearer picture of your buying budget before you get started on your search.

It’s usually a good idea to get a loan pre-approval sorted early. A home loan pre-approval gives you a clear sense of what you can afford and, just as importantly, which suburbs are realistically within reach. Our Broker can assist in this process.

Armed with a budget and a loan preapproval, the next step is to think carefully about what you need in your first property. For most buyers, a first property isn’t a “forever home”. Instead, it’s a first step on the property ladder that enables you to build equity, which helps you to upgrade later as your circumstances change - whether you get a new job or have more mouths to feed. This mindset helps keep first-timers’ buying expectations realistic. Moreover, by sacrificing an extra bedroom or a walk-in wardrobe, buyers can often enter the market sooner.

This is where seeking the guidance of your local Raine & Horne property expert will prove invaluable. Sure, you can check out the property portals. However, jumping on the phone to an experienced agent can help you refine your priorities, whether that’s the property’s location, transport access, proximity to family, or the balance between lifestyle and long-term value. Ultimately, the goal is to distinguish between features that are essential now and those that are simply nice to have – for example, a swimming pool.

Buying a first home in 2026 would be a major milestone, but with the right preparation, advice, and a clear plan, it becomes very achievable. And that’s where having the right people around you matters. At Raine & Horne, we’ll look after you at every step, from your first inspection to the moment you get the keys.

To get your home loan pre-approval underway, contact Our Broker on 1800 913 677. To explore properties available in your area and price range, speak with your local Raine & Horne agent.

[i] https://www.realestate.com.au/news/one-in-ten-homes-purchased-using-first-home-buyer-support/

[ii] https://cdn.rea-group.com/wp-content/uploads/2025/12/08093012/realestatecomau-Market-Insight-Property-Seeker-Survey-2025.pdf