First-home buyers embrace ‘COMO’ to achieve their goal

A little flexibility can be good for all of us, but for first home buyers it can be the difference between getting into the market and missing out.

If you’re planning and budgeting to buy a first home, what’s the number one thing that matters most to you?

Maybe it’s buying a place close to family and friends.

Perhaps your chief goal is buying a house rather than an apartment.

In fact, your top priority should simply be getting a place of your own before values climb higher.

And new research by PropTrack shows that’s exactly the approach 4 in 5 first home buyers are taking – being willing to compromise in order to break into today’s competitive property market[1].

Here’s what’s driving the ‘compromise or miss out’ (COMO) trend.

COMO – happy to bend in order to take a first step on the property ladder

According to PropTrack, one in five Australians are planning to buy a home[2].

On the other side of the ledger, Australia’s housing shortage is well-documented.

Long story short, buyers face stiff competition.

That’s seeing 83% of prospective buyers happy to compromise on their criteria to secure a home of their own[3].

The key areas where buyers are flexible include:

• Number of bedrooms/bathrooms
• Location
• Style of property, and
• Quality of finishings.

Angus Raine, Executive Chairman of the Raine & Horne Property Group, doesn’t mince his words when it comes to the importance of being flexible.

“Forget ‘Help to Buy’ – the most helpful acronym for first home buyers right now is COMO,” he says.

“We know from past experience that government initiatives designed to help buyers enter the market sooner tend to increase demand without increasing supply, which ultimately pushes prices higher.

“We’re seeing this right now with the expansion of the 5% Deposit Scheme in late 2025.”

Data from Cotality supports this view.

Since September last year, lower-priced homes – those under the expanded 5% Deposit Scheme price caps, have generally recorded stronger growth than higher-priced homes[4].  

What’s the solution?

There’s no silver bullet for rising prices, especially in the traditional first home buyer segment of the market.

However, there are valuable steps first home buyers can take to get into the market sooner before values surge higher:

1. Get a budget in place

As a first-time buyer, working out your budget can feel daunting. One approach is to work backwards, starting with your deposit and the upfront costs involved in securing a property.

Better still, a finance specialist from Our Broker can assess your income, expenses, debts, and credit history to determine how much you can borrow. This information will give you a clear picture of what you can afford and the deposit you’ll need before you start your search. Call Our Broker today on 1800 913 677.

2. Be flexible

“Once you have a budget, be prepared to be flexible is my first and foremost advice,” says Angus.

“A first home is rarely a forever home. What matters is that you get into the market today and have a stake in future gains rather than be left sitting on the sidelines.

“If you can afford an apartment today, why hold out for a house only to risk the possibility of being priced out by the time you have saved the appropriate deposit?”

3. Do your research

There’s no shortage of online property portals, and every real estate brand lists its properties on its website. But Angus stresses there’s no substitute for attending open inspections to truly understand the local market.

“The more inspections you attend, the better your understanding of pricing, buyer demand, and the types of properties that are attracting interest,” Angus says.

“For example, if you’re consistently seeing large crowds at open for inspections, it’s a clear sign there will be strong competition for a particular property, which is likely to push the final sale price higher.”

Angus adds, “When it comes to property research, I’d warn against overanalysing and underacting, as it can mean missing out on the right property.”

4. Be prepared to play the long game

As part of your approach to buying a property for the first time, Angus urges buyers to play the long game. This means don’t be deterred if the kitchen, bathroom or laundry feels a little too small at first glance.

“I’d urge buyers to visit a property they like several times, even if they have a few issues with it,” Angus said.

“There are often simple workarounds that can help a bathroom or laundry meet your short-term needs. Once you’ve built some equity, - either by paying down the loan or as the property value improves, you can then look at making the bathroom or laundry exactly the way you want.”

5. Get your home loan ducks in a row

When you see a place you want to buy, you need to be able to move fast.

Properties are selling quickly. The median days on market is just 28 according to NAB research[5].

But that can be a lot shorter.

Perth properties are typically selling in just eight days[6].

“In this environment, home loan pre-approval is a must-have,” says Angus. “It can give you a competitive edge over less organised buyers.

“Talk to the team at Our Broker. They can get the ball rolling on a home loan that matches your needs so you’re ready to make an offer – backed by finance – sooner.”

For advice on buying a place of your own sooner, speak with your local Raine & Horne team for expert guidance.

 

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

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

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

[4] https://www.cotality.com/au/insights/articles/first-home-buyer-scheme-fuels-surge-in-lower-priced-homes

[5] https://news.nab.com.au/tag/economic-market/nab-property-monitor-january-2026

[6] https://reiwa.com.au/the-wa-market/perth-metro/