First Home Buyer Anxiety is Real: Here’s How to Overcome it

Let’s cut through the noise: buying your first home is a big deal. It’s one of the most significant financial decisions you’ll make in your life, if not the most.

Add to that the financial responsibility, decades-long time commitment, a fierce property market and emotional commitment to the process, it’s no wonder the median age of first-time homebuyers has risen significantly in recent years ^[1].

Australians Are Hesitant to Buy

A recent PropTrack survey last year revealed that many Australians have delayed their first homebuying plans,  citing the high cost of living, expensive house prices and an uncertain economy as reasons not to enter the market, with only 20% of first homebuyers considering it a good time to buy.^[2] (PropTrack 2024)

With Australians waiting longer and paying more, it’s understandable that first-homebuyers feel hesitant to buy a home. Many young Australians believe the great Australian dream of homeownership is slipping out of reach

The good news is the dream of homeownership is still alive and well, it just takes more planning, resilience and confidence. Here’s how you can overcome the first-homebuyer anxiety, and take the first steps toward homeownership.

What You Can Do:

1. Start Saving Early

If you’re still dreaming of buying your first home, but don’t think it’s feasible right now, it may be a good time to get a leg up.

Start putting money towards a deposit whenever possible. Even small, regular contributions to your savings can gradually build towards your home loan deposit.

Even if you’re not planning to buy for a year or even longer, get in touch with your local MoneyQuest mortgage broker, as they’ll explore reasonable loan options to suit your circumstances, create a savings plan and notify you on how much you’ll need to save over some time. Just by taking this step, the homebuying journey can become less stressful and more achievable.

2. Take Advantage of Government Grants & Incentives

You’re not in this alone—both national and state governments offer grants and concessions to help first homebuyers. These include:

Stamp Duty Exemptions—saving you thousands of dollars.

Low-Deposit Schemes—allowing you to buy with as little as a 5% deposit while avoiding Lenders Mortgage Insurance (LMI).

First Homeowner Grants (FHOG)—providing financial assistance depending on your state or territory.

Government incentives can significantly reduce upfront costs, making homeownership more accessible than you might think. Since schemes vary by state, speak with a MoneyQuest mortgage broker to find out what’s available to you.

3. Talk to Others

Fear often comes from the unknown, and the homebuying process can feel intimidating if you don’t know where to start. Educate yourself and understand your options to gain confidence.  If you have friends who have gone through the homebuying process, chat with them about the steps they’ve taken, how they’ve saved and how they feel on the other end of it.

Be sure to get expert advice. Mortgage brokers have the knowledge and experience to ease your concerns, explain available benefits, and help you develop a solid homebuying plan. Once you’re ready to take the leap, they’ll guide you through every step—securing pre-approval, negotiating with lenders, and supporting you through settlement and beyond.

A journey of a thousand miles begins with a single step—and your homeownership journey starts with a conversation. Whether you need help saving, exploring loan options, or navigating government incentives, MoneyQuest mortgage brokers are here to guide you every step of the way.

Ready to take the next step? Contact your local MoneyQuest broker today and start your journey toward homeownership!

[1] CoreLogic Changing the Perspective on First Home Buyers. 18/4/2024. Viewed 21/3/2025

[2] Dellow, Karen. Stressed, overwhelmed, anxious: Cost of living crisis hampers first-home buyer plans. Proptrack. 25/10/2024. Viewed 21/3/2025

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