First Home Buyer Checklist Brisbane South, QLD, The 2026 Guide

In 2026, first home buyers in Brisbane South, QLD have more options than ever before. With the First Home Owner Grant sitting at $30,000 until 30 June 2026, the First Home Guarantee requiring just 5% deposit, and full transfer duty exemptions on new homes at any price, this is one of the strongest periods for first-time buyers in Queensland's recent history.

The challenge isn't finding help - it's knowing which advantages apply to your situation and in what order to tackle them. Whether you're looking at units in Runcorn - Coopers Plains or Annerley , getting the sequence right can save you thousands and speed up your timeline significantly.

AE Finance Solutions helps first home buyers across Brisbane South, QLD navigate every step of the buying process, from deposit planning through to settlement, completely free of charge.

Here's your complete first home buyer checklist for Brisbane South, QLD in 2026.

What should I do first as a first home buyer in Brisbane South, QLD?

Get pre-approved first, then house hunt. Pre-approval tells you exactly what you can borrow before you fall in love with a property, and in Brisbane South's competitive market, it shows sellers you're a serious buyer. Most importantly, pre-approval locks in your interest rate for up to 6 months, protecting you from rate rises while you search.

What government help is available for first home buyers in Brisbane South, QLD?

• First Home Owner Grant (FHOG):$30,000 for new homes under $750,000 (reducing to $15,000 from 1 July 2026). New builds, house and land packages, and new apartments all qualify.
• First Home Guarantee: buy with just 5% deposit and no lenders mortgage insurance (LMI). The government guarantees up to 15% of the purchase price. All Brisbane South suburbs are within the $1,000,000 price cap.
• Transfer duty exemption (new homes):$0 stamp duty on new homes at any price level. This saves approximately $35,000 on a $900,000 new apartment.
• Transfer duty exemption (established homes):$0 stamp duty on established homes up to $700,000, with partial concessions up to $800,000.
• Queensland Boost to Buy: shared equity scheme where the government contributes up to 30% of the purchase price for new homes. Limited to 500 places in Round 2, with income caps of $150,000 for singles and $225,000 for households.

How do mortgage brokers help first home buyers get approval in Brisbane South, QLD?

Step 1: Talk to us

Get in touch and we'll assess your income, expenses, and deposit to determine your borrowing capacity and which government schemes you qualify for across our 60+ lender panel.

Step 2: Secure your pre-approval

We'll identify the 3-4 lenders offering the strongest terms for your situation and submit your application to your preferred choice. Pre-approval gives you certainty on your budget before you start house hunting.

Step 3: Plan your property search strategy

Based on your pre-approval amount and preferred suburbs, we'll help you understand which properties maximise your government benefits - new vs established, price points that trigger different stamp duty treatments, and suburbs within your range.

Step 4: Support during your property search

Once you're house hunting, we monitor rate movements and lender policy changes. If your pre-approval expires or better deals emerge, we'll upgrade your position without disrupting your search.

Step 5: Handle your formal application

When you find a property and your offer is accepted, we coordinate the formal loan application, including property valuation, final income verification, and any first home buyer grant applications.

Step 6: Coordinate to settlement

We work with your solicitor, the lender, and your real estate agent to ensure all conditions are met on time. You'll receive regular updates, and we handle any last-minute documentation requests.

What mistakes do first home buyers make in Brisbane South, QLD?

The biggest mistake is thinking all lenders offer the same first home buyer benefits. Different lenders have different policies on casual employment, overtime income, and commission payments. Some accept 5% deposits under the First Home Guarantee immediately, while others have waiting lists or additional criteria.

The second most common error is not understanding how the schemes stack. For example, if you buy an established home for $720,000 in Moorooka with a 10% deposit, you'll pay $0 stamp duty but won't get the FHOG (established homes don't qualify) and won't need the First Home Guarantee (your deposit exceeds 5%). Understanding the interplay prevents disappointment and helps you choose the right property type for maximum benefit.

What documents do first home buyers need in Brisbane South, QLD?

• Income evidence: two recent payslips, employment letter stating your salary and start date, and two years of tax returns if you have any self-employed income or rental properties.
• Savings evidence: three months of bank statements for all accounts, showing your deposit has been saved over time. Gifted deposits require a statutory declaration from the gift-giver.
• Identification: driver's licence and either passport or birth certificate. If you've changed your name, bring the marriage certificate or change of name documents.
• Living expenses proof: recent utility bills, council rates (if renting), phone and internet bills. Lenders verify your stated living expenses against these documents.
• Existing debt statements: recent statements for credit cards, car loans, personal loans, and HECS-HELP debt. Even if you pay the balance in full each month, credit card limits affect your borrowing capacity.

Frequently Asked Questions

How much deposit do I need as a first home buyer in Brisbane South?

As little as 5% if you qualify for the First Home Guarantee, or 2% under the Queensland Boost to Buy shared equity scheme. Most first home buyers in Brisbane South use either 5% (with First Home Guarantee) or 10-20% (conventional loans) depending on their savings and preferred monthly repayment.

Can I use the First Home Guarantee for established homes?

Yes, the First Home Guarantee applies to both new and established homes. However, the First Home Owner Grant ($30,000) only applies to new homes. You can combine the First Home Guarantee with $0 stamp duty on established homes up to $700,000.

What's the maximum I can borrow as a first home buyer?

That depends on your income, existing debts, and living expenses. As a rough guide, most lenders will lend 5-6 times your gross annual income, subject to serviceability testing at approximately 8.5% interest rate. Your exact borrowing capacity varies significantly between lenders.

How long does first home buyer approval take?

Pre-approval typically takes 3-5 business days with complete documentation. Formal approval after you find a property takes 7-14 days, depending on property valuation timeframes. First home buyer grants add another 4-6 weeks to the settlement process.

Do I need a building inspection for an apartment?

Yes, always get a building and pest inspection, even for apartments. The inspection covers structural issues, water damage, electrical safety, and compliance with building codes. It costs approximately $400-600 but can save you thousands in unexpected repairs.

Should I use a mortgage broker or go direct to my bank?

A mortgage broker, every time. As a first home buyer, you're navigating government schemes, lender policies, and property choices simultaneously. A broker compares your options across 60+ lenders and ensures you're getting the maximum benefits available to you.

Can I buy investment property first and still get first home buyer benefits later?

No, buying any property first disqualifies you from all first home buyer schemes permanently. This includes buying investment property, buying with family members, or being on a title anywhere in Australia. Once you own property, you can't access FHOG, First Home Guarantee, or first home buyer stamp duty concessions.

Your Next Steps

Getting your first home loan right in Brisbane South, QLD is about more than finding the lowest rate. The right combination of lender, deposit strategy, and government schemes can save you tens of thousands of dollars and get you into your own home months sooner.

Ready to find out which lenders and schemes work best for your situation? Contact Abel Desta for a free consultation or call 0422 868 524. We'll assess your income and deposit, identify which government benefits you qualify for, and find the strongest loan structure for your first home purchase across Brisbane South, QLD.

AE Finance Solutions · Eight Mile Plains and Brisbane South, QLD · General information only — this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions.