Why Your First Home Doesn’t Have to Be Your Dream Home
Every day, I speak with clients eager to build their first home, but many feel discouraged when they can’t find exactly what they want. The main issue? They’re trying to make their first home their dream home — and in today’s property market, that expectation can hold them back.
Many buyers expect:
Their first home to be in a fully developed suburb
A large block of land
A spacious home — sometimes even two-storey
All of this under a $750,000 budget
Unfortunately, with current market prices, that’s often not realistic. In most developed areas, house and land packages are now priced well above $830,000 — out of reach for those with a $750,000 borrowing limit.
FIRST HOME NEEDED NOT BE YOUR DREAM HOME
The smarter path is to adjust expectations for your first home and use it as a stepping stone toward your dream home. There are still suburbs where you can secure a quality house and land package for around $750,000.
Better yet, by purchasing now, you can still benefit from generous government incentives:
$30,000 First Home Owner Grant (reducing to $15,000 after 30/06/2025)
Zero transfer duty on land
With build times around 6 months, you could be living in your first home within the year. And if you stay for a year or two, you’ll likely build up enough equity to upgrade.
One client saw their home increase by $149,000 during construction. That kind of equity gain would be nearly impossible to save through regular income — but it becomes achievable through smart property choices.
Your first home can be a stepping stone to your dream home. Let the market work for you, not against you.