If you’re a first home buyer looking to enter the property market in Windermere, there are several government initiatives designed to make buying your first home more achievable.
“It has never been more important for first home buyers to be aware of the help available. There are government schemes out there that can significantly reduce upfront costs and help you enter the market sooner,” says David McKenzie, Lending Specialist at Southside Home Loans.
Housing Australia has supported more than 200,000 (January 2025) eligible home buyers to make home ownership a reality since the inception of the Australian Government’s Home Guarantee Scheme (HGS) in January 2020. For eligible buyers in Windermere, this could be a game changer.
The HGS includes:
- First Home Guarantee: Purchase with just a 5% deposit and pay no Lender’s Mortgage Insurance (LMI). 35,000 places are available this financial year.
- Regional First Home Buyer Guarantee: Offers the same benefits for buyers in regional areas, with 10,000 spots open.
- Family Home Guarantee: Eligible single parents or legal guardians can buy with just a 2% deposit and no LMI. 5,000 places are offered.
Current price caps to be eligible sit at $800,000 (home and land), with income limits of $125,000 for individuals or $200,000 for couples.
In 2024, more than 117,000 Australian households became first home buyers, a 9% increase compared to the previous year and this number could grow to 150,000 in 2025 if interest rates continue to fall, according to Propertyology.
Research from Westpac’s Home Ownership Report (2025) backs this up, showing a rise in Australians planning to buy before the end of the year, largely driven by interest rate cuts.
Another trend emerging among first home buyers is rent-vesting, buying a home in a more affordable or high-growth area like Windermere, while continuing to rent closer to work or lifestyle amenities.
“Rent-vesting can be a smart way to build equity in the market without compromising your lifestyle. We are seeing more first-time buyers adopt this strategy,” David said.
Saving for a deposit can feel like the biggest hurdle. But small changes can make a big difference. In addition to putting aside more from your income, here are four practical ways to ease the pressure and grow your savings faster:
- Save at the supermarket: Shop smarter, plan meals and take advantage of specials.
- Reduce energy bills: Compare providers, switch off unused devices and monitor your usage.
- Cut car costs: Consider public transport or carpooling and shop around for insurance and fuel deals.
- Review your insurance: Regularly compare your home, health and car insurance to ensure you are obtaining value for money.
David concluded, “We help first home buyers every day. From budgeting and debt consolidation to navigating loan applications, our team is here to guide you through it all.”
Contact Southside Home Loans to connect with a finance consultant near you and start your home ownership journey in Windermere today.
To find an affordable land lot visit the Windermere Sales Gallery at 275 Greens Road, Mambourin to discuss land and home and land package opportunities. Open Saturday – Wednesday from 11am- 5pm. Titled land starts at $214,000.
