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 transfer duty exemptions, 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 is getting the sequence right. Whether you're looking at entry-level units in Annerley- Coopers Plains or family homes in Runcorn across Brisbane Southside, having a clear checklist prevents costly mistakes and missed opportunities.
Mortgage Broker Brisbane Southside 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.
Key takeaways
- First home buyers can purchase with a 5% deposit under the First Home Guarantee, with no LMI.
- New home contracts from 1 July 2026 attract zero transfer duty with no price cap in Queensland.
- Budget $15,000 to $25,000 above your deposit to cover inspections, legal fees and moving costs.
What do you need to get your finances ready before you start looking?
Knowing your deposit position before you fall in love with a property saves significant stress. Under the first home buyers pathway, you can buy with a 5% deposit and no Lenders Mortgage Insurance up to the $1,000,000 Brisbane price cap. 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.
Understanding your borrowing capacity early also tells you which suburbs and property types are genuinely within reach. Policies vary significantly between lenders on income types, HECS debt assessment, and genuine savings requirements, which is exactly why comparing across a broad panel matters before you start looking.
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. Income caps and place limits have been removed from the scheme, making it widely accessible across Brisbane Southside, and the $1,000,000 price cap covers the full range of entry-level houses and units across the region.
What government schemes can first home buyers in Brisbane Southside use?
Schemes available as of July 2026:
- › 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 price cap for contracts signed from 1 July 2026 onward. From 1 August 2026, this concession is limited to Australian citizens, permanent residents and specified foreign retirees.
- › Queensland First Home (Established) transfer duty concession: full concession on established homes under $700,000, sliding-scale concession from $700,001 to $800,000, no concession above $800,000. The same citizenship/residency restriction applies from 1 August 2026.
- › Queensland First Home Owner Grant:$30,000 for new homes under $750,000. The 2026-27 Queensland Budget confirmed the $30,000 continues for contracts signed from 1 July 2026, with funding locked into the four-year forward estimates.
- › 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 ($150,000 single, $225,000 household). Places are limited and the SEQ allocation for Round 2 has been largely exhausted.
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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. You can also learn more about pre-approval and what to expect from the process.
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.
What mistakes do first home buyers in Brisbane Southside commonly make?
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 where it applies, 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.
What documents do first home buyers need to prepare?
Gather these before approaching a lender:
- › 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.
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Local experts
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Prefer to talk now? Call 0421 152 859 |
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, being $35,000 deposit plus approximately $20,000 for extra costs.
Can first home buyers use the First Home Guarantee for units and townhouses in Brisbane Southside?
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 first home buyers pay transfer duty on a new home in Brisbane Southside?
No, first home buyers pay zero transfer duty on new homes in Queensland with no price cap for contracts from 1 July 2026. From 1 August 2026, the concession is limited to Australian citizens, permanent residents and specified foreign retirees, so confirm your eligibility with the Queensland Revenue Office.
Can first home buyers still get the $30,000 Queensland First Home Owner Grant in 2026?
Yes. The 2026-27 Queensland Budget confirmed the $30,000 grant continues for contracts signed from 1 July 2026 on new homes under $750,000, with funding locked into the four-year forward estimates.
Should first home buyers 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 first home buyer process take from application to settlement?
Typically 6 to 8 weeks from accepted offer to settlement. Pre-approval takes 3 to 5 business days, property searches vary by market activity, and settlement periods are usually 30 to 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 a 50+ lender panel.
The right lender for your first home depends on your situation, and that's a conversation worth having. Talk to the Evergreen Loan Solutions team or call 0421 152 859, and we'll compare your options across 50+ lenders at no cost to you.
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External Resources
Evergreen Loan Solutions · Eight Mile Plains and Brisbane Southside · General information only - this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions. · Last updated 4 July 2026
