Now, of course the answers to the first question will depend on exactly where in Queensland you are looking to buy and what type of property you're after. Your budget will depend on your deposit, your income and your borrowing capacity, which is why we recommend you speak with a mortgage broker to get advice sooner rather than later.

In Queensland there are grants and concessions for first home buyers and these are subject to certain requirements like income limits and purchase price caps. Check out this LINK for the most up to date information. Just be wary of any grant that is contingent on buying a brand new property as these can be risky for first home buyers.

The standard deposit in Queensland varies. At auction the deposit is typically 10% but can be negotiated down to 5%. With private treaty negotiations you can form a contract without a deposit but usually the agent will request 3-5%.

We've covered all the other first home buyer costs in this article and as a general rule of thumb, we recommend setting aside 5% of the purchase price for additional costs.

As mentioned above, we highly recommend that you speak with a mortgage broker early in your first home buyer journey, even before you have saved what you think you need to save. You might be surprised to find that you can buy sooner than you thought once you get the right advice around your borrowing strategy.

Locations across Queensland vary substantially and you'll find you'll become a local expert while you're house hunting. We've had many conversations with buyers agents from across Queensland on the podcast, discussing areas such as the Gold Coast, Sunshine Coast, Brisbane and regional areas.

Locations across Queensland vary substantially and you'll find you'll become a local expert while you're house hunting. We've had many conversations with buyers agents from across Queensland on the podcast, discussing areas such as the Gold Coast, Sunshine Coast, Brisbane and regional areas.

You'll find different types of property in different locations will have different types of building issues. For example, in Queensland the humid climate is highly conducive to termites and the major construction material is timber so you need a really thorough pest inspection.

You should always get a building & pest inspection before you purchase so that you're aware of any deal breakers, as well as both short and long term maintenance requirements.

You may be surprised to know that the laws governing real estate transactions vary substantially across Australia, which is why we compiled a podcast series on state based rules. We interviewed buyers agents who are local specialists in their state and they shared what you need to know before buying your first home in Queensland.

In addition to these key considerations, first-time homebuyers should also be aware of the importance of a good credit score, the need for pre-approval for a mortgage, and the value of researching and comparing multiple properties and mortgage options. It's recommended that first home buyers learn Queensland the complete buying process and ask the right experts to help guide them to make informed decisions.