Buying Your First Home in SA? Don't Make These 5 Costly Mistakes.
Most first home buyers in South Australia leave tens of thousands of dollars on the table, choose the wrong lender, or lock into a loan that costs them more than it should. This free guide shows you what to watch for, and how to get it right from the start.
These Are Costing SA First Home Buyers Thousands
We see these mistakes every week. Each one is avoidable, and each one can cost you real money, real time, or both. Here is the short version; the full guide goes deeper.
Assuming You Need a 20% Deposit
You have been saving for years and you are nowhere near 20%. Prices keep rising faster than your savings.
THE TRUTHMultiple schemes in SA let you buy with as little as 2% to 5% deposit, with no Lenders Mortgage Insurance. The First Home Guarantee, Help to Buy, and HomeStart all offer paths in with a fraction of what the banks tell you that you need.
Not Knowing Which Grants Stack Together
You have heard about "the grant" but you do not realise there are six or seven different schemes, and most of them can be combined.
THE TRUTHSA currently offers the $15,000 First Home Owner Grant, a full stamp duty exemption on new homes (saving $20,000 to $40,000+), the First Home Guarantee, Help to Buy, the HomeStart Starter Loan ($10,000 interest-free for 7 years), and the First Home Super Saver Scheme. Most buyers only claim one or two.
Going Straight to Your Bank
Your bank feels safe. They offer you a rate. You accept it because you have nothing to compare it to.
THE TRUTHYour bank can only offer their own products. Different lenders assess income differently, accept different deposits, and have wildly different policies on contract work, casual employment, and parental leave. A broker compares 35+ lenders and it costs you nothing.
Underestimating the Total Costs
You saved the deposit, got your offer accepted, and then discovered $20,000 to $30,000 in costs you did not budget for.
THE TRUTHConveyancing, inspections, loan fees, government charges, moving costs: on a $550,000 established home, the extras can easily reach $25,000+. Many buyers run out of cash between exchange and settlement because nobody mapped these out upfront.
Choosing the Wrong Loan Structure
Three years in, you realise your fixed rate is rolling off, you have no offset account, and you are paying for features you do not use.
THE TRUTHThe cheapest rate is not always the best loan. Offset accounts, extra repayment flexibility, redraw facilities, and fixed/variable split options all matter depending on your situation. Getting the structure wrong at the start costs tens of thousands over the life of the loan.
Get the Full Guide: 5 Costly Mistakes SA First Home Buyers Make
The complete guide goes deeper on each mistake, with specific dollar amounts, the Lender Edge solution for each, and a step-by-step action plan. Plain English, no jargon, two-minute read.
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SA's Specialist Residential Mortgage Broker
Every mistake above has a simple fix, and it starts with having someone in your corner who knows the system, compares every option, and charges you nothing.
35+ Lenders Compared for You
We search the market across the big four banks, specialist lenders, and non-bank lenders to find the loan that fits your income, deposit, and plans.
Every Grant and Scheme Mapped
We audit your eligibility across every state and federal scheme, then lodge the applications for you. Nothing gets missed, nothing expires.
Full Cost Breakdown Before You Start
Before you look at a single property, we map out every dollar you need: deposit, fees, charges, and the gap between them. No surprises at settlement.
Loan Structured Around Your Life
We do not just find a rate. We structure the loan around your income pattern, savings habits, and three-to-five-year plans. Then review it annually.
$0 Broker Fees, Ever
Our service is free to you. The lender pays us when your loan settles. No upfront fees, no hidden charges, and no obligation if you decide not to proceed.
All of South Australia
We work with first home buyers across Adelaide, the Adelaide Hills, Fleurieu Peninsula, and regional SA. If you are buying in South Australia, we can help.
First Home Buyers Who Avoided the Mistakes
We had no idea where to start. Simon walked us through everything, found us a lender we had never heard of, and got us a better rate than any of the big banks offered. The whole process was so much easier than we expected.
I was worried I did not have enough deposit, but Simon showed me the grants I was eligible for and structured the loan so I could buy sooner than I thought. I genuinely could not have done it without him.
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- Discover which grants and schemes you are eligible for
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- Understand your next steps, with no obligation
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Questions First Home Buyers Ask Us
It depends on the lender and property, but options exist from 2% to 5% deposit. We work out the minimum for your situation and show you how to avoid or minimise LMI.
No. Our service is completely free. The lender pays us a commission when your loan settles. No upfront fees, no hidden charges, no obligation.
The FHOG in SA is only for new homes. However, you may still be eligible for other support like the First Home Guarantee or Help to Buy. We walk you through everything.
Pre-approval usually takes a few days to two weeks. Settlement is typically four to six weeks after you find a property. We keep things moving as quickly as possible.
Yes. Many lenders cater specifically for self-employed borrowers. We know which lenders are most flexible and how to present your application in the best light.
A bank offers only their products. We compare 35+ lenders to find the best fit, handle the paperwork, and advocate for you. At no cost.