Alex
They Thought Investing Required Years of Saving — Until They Used Their Equity
Key Takeaways
Alex believed saving a 20% deposit would take years. After we structured the right lending strategy, Alex was able to:
- Purchase a $400,000 unit with just a $20,000 deposit
- Avoid the lender’s mortgage insurance
- Potentially benefit from no stamp duty on homes under $800,000 (saving up to $24,525)
- Be eligible for the First Homeowner Grant of up to $30,000 on a new property
Meet Alex
A single first-home buyer in Queensland earning $80,000 a year who assumed buying alone was still years away. Like many people, the idea of saving a 20% deposit — plus stamp duty and other upfront costs — made home ownership feel out of reach.
5% Deposit Scheme
That changed after learning about the Australian Government’s 5% Deposit Scheme, which meant Alex only needed $20,000 to purchase a $400,000 unit and could avoid paying lender’s mortgage insurance altogether. By choosing a new unit, Alex also benefited from Queensland’s first home buyer stamp duty concession — paying no stamp duty on homes under $800,000 and saving up to $24,525 — and could potentially qualify for the First Homeowner Grant of up to $30,000, available on new homes until 30 June 2026. With repayments comparable to rent, the option to rent out a spare room without losing eligibility, and the right guidance to structure everything correctly, what once felt unrealistic became a clear and achievable path into home ownership — showing that for many Queenslanders, buying sooner is possible with the right advice and support. Alex went from thinking homeownership was years away to moving in within months.
Outcome
If you’re wondering what you could afford or whether you qualify, a quick conversation could be all it takes to turn “someday” into a plan.
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Finance that feels human
At Market Brokers, we take the time to understand your situation and goals before recommending a loan structure that works for you.
