First Home Buyer Checklist in Brisbane Southside: 2026 Guide
In 2026, Brisbane Southside remains one of the most accessible capital city markets for first home buyers in Australia. With the First Home Guarantee removing the need for a full 20% deposit, the Queensland First Home (New Home) full transfer duty exemption, and the Brisbane price cap now at $1,000,000, the path to your first home is more achievable than it might feel right now.
The key to a successful first home purchase in Brisbane Southside is getting the sequence right. Whether you're looking at entry-level units in Greenslopes - Stones Corner or family homes across Coopers Plains , having a clear checklist prevents costly mistakes and missed opportunities.
Evergreen Loan Solutions helps first home buyers across Brisbane Southside navigate the complete process from pre-approval to settlement, completely free of charge.
Here's your step-by-step checklist to buying your first home in Brisbane Southside in 2026.
Getting your finances ready before you start looking
Before you fall in love with a property, you need to know exactly what you can afford. This means understanding your deposit position, your borrowing capacity, and which government schemes you're eligible for.
Start by calculating your genuine savings position. Under the First Home Guarantee, you can buy with a 5% deposit and no Lenders Mortgage Insurance up to the $1,000,000 Brisbane price cap. However, you still need additional funds for transfer duty, building and pest inspections, legal fees, and moving costs - typically another $15,000 to $25,000 depending on the purchase price.
What deposit do I need as a first home buyer in Brisbane Southside?
You need a 5% deposit under the First Home Guarantee, with no LMI required. For a $700,000 home, that's $35,000 plus around $20,000 for additional costs. The scheme has no income caps or place limits, making it widely accessible across Brisbane Southside.
Government schemes and grants for first home buyers in Brisbane Southside
- First Home Guarantee: Buy with a 5% deposit and no Lenders Mortgage Insurance, up to a $1,000,000 Brisbane price cap. Income caps and place limits removed.
- Queensland First Home (New Home) transfer duty exemption: Full transfer duty exemption with no value cap if you sign a contract for a newly built home or vacant land for a new build.
- Queensland First Home (Established) transfer duty concession: Full concession on established homes under $700,000, sliding-scale concession from $700,000 to $800,000.
- Queensland First Home Owner Grant:$30,000 for new builds before 30 June 2026 (drops to $15,000 from 1 July 2026). Property cap under $750,000.
- Queensland Boost to Buy: Shared equity scheme where the government takes up to 30% equity in a new home or 25% in an existing home, with as little as a 2% deposit. Property cap $1,000,000. Income caps apply.
| • Evergreen Loan Solutions Like to know which schemes you're eligible for right now? Eligibility rules vary between schemes and your income affects what's available. A free chat with a Brisbane Southside mortgage broker gives you a clear picture - no commitment, no pressure. 5-star reviews
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How does a mortgage broker in Brisbane Southside help first home buyers get approved?
Step 1: Talk to us
Get in touch and we'll assess your deposit position, income, and scheme eligibility to determine what's available across our 50+ lender panel.
Step 2: We review your complete financial picture
We look at your savings, income history, and any existing debts to understand what lenders will assess and identify the strongest loan structure for your situation.
Step 3: We identify your optimal scheme combination
Different schemes can work together - we map out which government supports apply to your income, deposit, and property type to maximise your outcome.
Step 4: We secure your pre-approval
We handle the application with the lender that offers you the best combination of rate, features, and approval confidence, giving you certainty before you start looking.
Step 5: We support your property search
With pre-approval confirmed, you can bid at auctions and make offers with confidence, knowing your finance is already arranged.
Step 6: We coordinate your settlement
We work with your solicitor and the lender to ensure all conditions are met and funds are ready for your settlement date.
Common mistakes first home buyers make in Brisbane Southside
The most expensive mistake first home buyers make is not understanding which lenders will actually approve them before they start looking. Pre-approval from the wrong lender can mean missing out on properties or discovering your borrowing capacity is lower than expected.
Another common error is not factoring in the full cost of buying. Beyond the deposit, you need transfer duty (unless you qualify for the full exemption), building and pest inspections, legal fees, mortgage registration, and immediate moving costs. Brisbane Southside buyers should budget $15,000 to $25,000 on top of their deposit for a smooth purchase.
Your complete first home buyer document checklist
- Income verification: Two recent payslips, employment letter, and your most recent group certificate or tax return
- Savings evidence: Three months of bank statements for all accounts, showing genuine savings accumulation
- ID and residency: Driver's licence, passport or birth certificate, and proof of current address
- Existing debts: Credit card statements, personal loan details, HECS debt information, and any other monthly commitments
- Property purchase: Contract of sale, building and pest inspection reports, property valuation, and council rates notice
- Scheme applications: First Home Guarantee application, transfer duty exemption forms, and FHOG application if buying new
| • Evergreen Loan Solutions Ready to find out which suburb and scheme gives you the strongest start? We compare loans from 50+ lenders across Brisbane Southside. Free service, no cost to you. 5-star reviews
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Frequently Asked Questions
How much deposit do I actually need to buy my first home in Brisbane Southside?
You need a 5% deposit under the First Home Guarantee plus additional funds for transfer duty, inspections, and legal costs. For a $700,000 home, budget around $55,000 total - $35,000 deposit plus $20,000 for extra costs.
Can I use the First Home Guarantee for units and townhouses?
Yes, the First Home Guarantee applies to units, townhouses, and houses up to the $1,000,000 Brisbane price cap. Most Brisbane Southside units fall well within this limit.
What happens if my offer is accepted but my loan is rejected?
This is why pre-approval is essential before you start looking. Conditional pre-approval gives you confidence your finance will be approved, subject to property valuation and final documentation.
Do I pay transfer duty if I buy a new home in Brisbane Southside?
No, first home buyers pay zero transfer duty on new homes in Queensland with no price cap. This exemption can save $20,000 to $40,000 compared to an equivalent established home.
Can I still get the $30,000 First Home Owner Grant?
Yes, if you sign a contract for a new home under $750,000 before 30 June 2026. The grant drops to $15,000 from 1 July 2026, so timing matters for new build purchases.
Should I use a mortgage broker or go directly to a bank?
A mortgage broker, every time. We compare over 50 lenders to find the best combination of rate, features, and approval confidence for your specific situation. Banks can only offer their own products, and many first home buyer advantages are lender-specific.
How long does the whole process take from application to settlement?
Typically 6-8 weeks from accepted offer to settlement. Pre-approval takes 3-5 business days, property searches vary by market activity, and settlement periods are usually 30-45 days after exchange of contracts.
Your Next Steps
Getting your first home purchase right in Brisbane Southside is about more than finding a property you love. The right lender selection, scheme combination, and timing can save you tens of thousands of dollars and give you access to opportunities other first home buyers miss - all things that vary significantly across our 50+ lender panel.
Ready to find out which suburb and loan structure gives you the strongest start as a first home buyer? Contact the Evergreen Loan Solutions team or call 0421 152 859. We'll assess your situation across our 50+ lender panel and identify the best options for you across Brisbane Southside and Eight Mile Plains.
