Last updated: July 2026
First Home Buyer Under 30 in Australia
Buying your first home before 30 is achievable with the right strategy. You can start the FHSS from age 18, access the FHBG with just 5% deposit and no income cap, and stack state grants worth up to $50,000. The key is starting early. Every year of FHSS contributions saves you tax and builds your deposit faster than a standard savings account. Here is how to build a realistic plan.
Start the FHSS Early
The First Home Super Saver Scheme lets you salary sacrifice (or make personal deductible contributions) up to $15,000 per financial year and $50,000 total into super. Contributions are taxed at 15% inside super instead of your marginal rate, saving you the difference.
You can start contributing from age 18. Even small contributions in your early working years add up:
| Start Age | Annual Amount | Years to $50k Cap | Ready By |
|---|---|---|---|
| 18 | $5,000 | 10 | Age 28 |
| 18 | $10,000 | 5 | Age 23 |
| 18 | $15,000 | 3.3 | Age 21 |
| 22 | $10,000 | 5 | Age 27 |
| 22 | $15,000 | 3.3 | Age 25 |
| 25 | $15,000 | 3.3 | Age 28 |
These figures are before deemed earnings, which add further to your released amount. The ATO applies a deemed earnings rate (based on the shortfall interest charge rate) to your FHSS contributions while they remain in super.
Use the FHSS calculator to model your scenario
Your Scheme Options
All major first home buyer schemes are available regardless of age (you must be 18 or older). Here is a quick summary:
FHSS
Up to $50,000 in tax-advantaged super contributions towards your deposit. Start from age 18.
FHBG
Buy with 5% deposit, no income cap, unlimited places. Government guarantees up to 15% of the property value, saving you LMI.
Help to Buy
Income cap $103,000 single / $165,000 couple. Government buys up to 40% equity (new) or 30% (existing). Only 2% deposit required.
State grants
$10,000 to $50,000 depending on your state, for new builds. QLD's $30,000 grant was extended a further four years in the 2026-27 Budget.
A Realistic Timeline: Age 23 to 27
Here is what a realistic four-year plan might look like for someone starting at age 23 on an income of $65,000:
Age 23: Start FHSS contributions
Begin salary sacrificing $10,000 per year into super for the FHSS. At a 30% marginal rate plus the 2% Medicare levy, that $10,000 would otherwise have been roughly $6,800 in take-home pay, so the real cost to you is around $7,000. Concessional contributions are only released at 85%, so $8,500 counts towards your FHSS balance each year, not the full $10,000.
Age 24: Build additional savings
Continue FHSS contributions and save an additional amount in a standard savings account. You will need money for stamp duty, conveyancing, inspections, and moving costs that the FHSS cannot cover.
Age 25: Get pre-approved
With $30,000 in FHSS contributions and additional savings, talk to a mortgage broker about your borrowing capacity. Apply for the FHBG if you plan to use a 5% deposit.
Age 26-27: Buy
Request your FHSS determination and release from the ATO (allow 15 to 20 business days). Combine your FHSS release with savings for your deposit. Sign the contract and settle.
The HECS-HELP Factor
Most under-30 buyers carry HECS-HELP debt. It does not disqualify you from any scheme, but it does affect your borrowing capacity. Lenders include your HECS repayment obligation when calculating serviceability. Here is how it works:
- Lenders calculate your HECS repayment based on your income bracket (not your HECS balance)
- This repayment is treated as an ongoing expense, reducing how much they will lend you
- Paying off HECS before buying can increase your borrowing capacity, but this is not always the best use of your savings
- A mortgage broker can model both scenarios (pay off HECS vs. keep it and use the funds as deposit) to see which gives you a better outcome
Living at Home vs. Renting
If you have the option to live at home while saving, the financial difference is substantial. Average rent in a capital city shared house is roughly $250 to $350 per week, or $13,000 to $18,200 per year. Living at home and contributing a smaller amount to household expenses could free up a significant portion of that for your deposit fund.
Even contributing $100 to $150 per week to your parents for board, you could redirect an extra $150 to $200 per week into savings compared to renting. Over three years, that adds up to $23,000 to $31,000 in additional savings on top of your FHSS contributions.
This is not an option for everyone, and there is no shame in renting. But if you can do it, the numbers make a real difference.
Buying with a Friend or Sibling
Joint purchases are becoming more common among younger buyers. Two first home buyers can pool their resources and both access schemes individually:
- Both can use their $50,000 FHSS entitlement (up to $100,000 combined towards the deposit)
- Both must be first home buyers to access the FHBG or Help to Buy
- Combined borrowing capacity is typically higher than a single buyer
- Ownership is usually structured as tenants in common (not joint tenants), so each person owns a defined share
Get legal advice before buying with someone who is not your partner. A co-ownership agreement should cover what happens if one person wants to sell, cannot make repayments, or wants to move out.
Read our guide to buying as a pair (also applies to friends and siblings)
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Frequently Asked Questions
Can I start the FHSS at 18?
Yes. You can start making voluntary super contributions for the FHSS from the age of 18. If you begin at 18 and contribute $15,000 per year, you could reach the $50,000 lifetime cap by age 21. Combined with deemed earnings and the tax benefit, this gives you a strong deposit foundation well before 30.
Does HECS-HELP stop me from buying a home?
No. HECS-HELP debt does not disqualify you from any government scheme. However, it does reduce your borrowing capacity because lenders include your HECS repayment obligation when assessing how much you can borrow. You do not need to pay off HECS before buying, but be aware of its impact on your serviceability.
Can I buy a property with a friend or sibling?
Yes. You can buy jointly with another person and both use first home buyer schemes individually. Both applicants must be first home buyers to access the FHBG or Help to Buy. Each person can use their own FHSS entitlement ($50,000 each). Get legal advice on how to structure ownership (tenants in common is most common for non-couples).
What is a realistic age to buy a first home in Australia?
There is no single answer, but with the FHSS, FHBG, and state grants, buying between 25 and 30 is realistic for many Australians. Starting FHSS contributions early, keeping living costs low, and using a 5% deposit scheme like the FHBG can bring homeownership forward by several years compared to saving a full 20% deposit.
Sources:
ATO: First Home Super Saver Scheme | Housing Australia: First Home Guarantee | Housing Australia: Help to Buy
Disclaimer: This information is general in nature and does not constitute financial, legal, or tax advice. Calculations are estimates only and may not reflect your exact circumstances. Eligibility criteria and dollar amounts may change without notice. Always verify with the relevant government authority, your mortgage broker, or a licensed financial adviser before making decisions.