The First Home Buyer's Guide

Buying your first home in Adelaide is one of the biggest financial decisions you'll ever make. This guide walks you through every step — from your first savings goal to the day you collect the keys — with numbers, timelines, and links to the exact tools you'll need.

1. What you actually need to save

Most first home buyers underestimate the true upfront cost. In South Australia in 2026 you should budget for:

• Deposit — 5% minimum with LMI, 20% to avoid it. On a $650,000 home that's $32,500 – $130,000.
• Stamp duty — waived for eligible first home buyers on new homes up to $650,000 (SA). Use our Stamp Duty Calculator to check.
• Government fees — transfer fee, registration, LTO searches: roughly $3,000 – $4,500.
• Conveyancer — $1,200 – $2,200.
• Building & pest inspection — $500 – $800 per property (budget for two or three).
• Loan application, valuation, LMI — variable; LMI on a 5% deposit for a $650k home is around $22,000 capitalised.

2. Getting your borrowing power right

Before you visit a single open home, know your number. Lenders assess your borrowing capacity based on income, existing debts, dependants and living expenses — plus a 3% servicing buffer on top of the current rate. Run your own numbers first with our Borrowing Power Calculator, then get pre-approval in writing from a broker or lender before offering.

Tip: pre-approval typically lasts 90 days. Don't apply too early — but never bid at auction without it.

3. First Home Buyer grants & concessions in SA

• First Home Owner Grant — $15,000 for eligible new builds under $650,000.
• Stamp duty relief — full exemption on new homes up to $650,000, partial to $700,000.
• First Home Guarantee — Federal scheme allowing 5% deposit without LMI (income and place caps apply).
• Family Home Guarantee — 2% deposit for eligible single parents.

4. Choosing the right suburb

Adelaide's first home buyer sweet spots in 2026 sit in the north, inner north and Mawson Lakes corridor — established infrastructure, sub-$700k medians, and strong rental fallback if life changes. Read our Suburb Buying Guide for the full framework.

5. Making an offer that wins

In a competitive market, the highest number doesn't always win. Sellers want certainty. Strengthen your offer by:

• Reducing conditions (finance clause tight, no sale-of-home).
• Offering the seller's preferred settlement date (usually 30 or 60 days).
• Depositing 10% on signing instead of the statutory minimum.
• Writing a short cover letter — it works more often than agents admit.

6. Cooling off, inspections & settlement

SA gives buyers a 2 clear business day cooling-off period on private treaty (not auctions). Use it to complete building & pest inspections and confirm finance. Then your conveyancer handles the Form 1, searches, and settlement — usually 30–60 days later. See the full Settlement Guide for the day-by-day breakdown.

7. Ongoing costs to plan for

Cost	Annual estimate
Council rates	$1,800 – $2,800
Emergency services levy	$120 – $280
Water & sewer (supply)	$800 – $1,100
Building insurance	$1,200 – $2,000
Maintenance (rule of thumb)	1% of property value

Ready to start?

Browse current Buri listings, or book a no-pressure chat with our buyer advocacy team.