Navigating the First Home Buyer Market ​

Navigating the First Home Buyer Market

Blog post by Crystal Linter

5th October, 2023

I understand that the path to buying your first home can feel hard.

Median house prices in Melbourne have risen by over 40% since 2012 and navigating the process can feel overwhelming and defeating.

We are currently seeing that many investors are leaving the market due to increasing cost of living giving First Home Buyers better opportunity to enter the market. Making informed decisions is key, through my 16 years experience in buying I have compiled a list of info and tips to make this an easier process. 


As a First Home Buyer the government offers a few options that you can tap into to help make owning your own home a reality. I would highly recommend working out what you are going to be eligible for and making the most of these.  

  • The First Home Buyers Super Saving Scheme allows you to add $30,000 to your super tax free for the purpose of purchasing your first home.
  • A $10,000 First Home Owner Grant is available when you buy or build your first new home. 
  • If you are buying a home under $600,000 you will pay no stamp duty. Stamp duty concessions are then on a sliding scale up to $750,000. 



I always recommend to clients to speak to a mortgage broker to find out their maximum borrowing power and then decide from there what budget they will set for purchasing, taking into consideration their lifestyle and risk appetite. The reason for this is because the first home buyers market is realistically a tightly held market. While the government incentives have done wonders to help make home ownership a reality for many, they have also created fierce competition in the sub $750,000 market with buyers hoping to be eligible for the incentive schemes on offer. By knowing in the first place what your maximum borrowing power is you have the ability to make real time decisions if the right property comes along. 

Create your brief: Make a list of your ideal property location and features and get down to your non-negotiables. Keep in mind that if a property ticks 80% of the boxes, its probably worth serious consideration. 

Quote ranges: If you haven’t already, you will quickly work out that quote ranges on properties can be dramatically under what the property sells for and this is where market knowledge is key. Looking at comparable sales and not just relying on the comparable sales that the agent has provided. This will help you avoid disappointment on auction day and the investment of time in looking at properties which were never within your reach.

Don’t forget your Due Diligence: Sometimes what you see isn’t what you get. It is important to ensure you protect your asset. This includes a thorough contract review, comparable sale review, building and pest inspection and looking into zoning and development within the immediate vicinity which could affect your future capital growth.

Timing the market: My experience in real estate has taught me there is no such thing as timing the market, it is luck. Seasoned property buyers know that getting bogged down in the macro of the property market will only take you away from the more important factor, which is in fact time in the market. Getting yourself onto the property ladder is a huge financial achievement. Don’t delay taking that step. 


You are not expected to know all the pitfalls that exist within the property market. This is not your area of expertise and it can be an overwhelming process. Ask for help where you can and maybe even consider engaging a Buyers Advocate to make buying a property easy. 

About the Author

Crystal is a Buyers Advocate at Peritum Property and founder of The Boss is Her, her networking group. She brings with her over 16 years of Real Estate experience working alongside some of the best in the business. She has worked throughout Melbourne’s high end property markets and refined an enviable skill set.

She believes in front foot communication and nurturing industry relationships which best place her clients to secure the keys to their dream home. She is passionate about keeping up with market trends and helping guide her clients with her proven track record.

Check out Peritum Property via their website.

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