The 5% deposit scheme has opened the door for many first home buyers, but it’s only one part of successfully getting into the property market. While government support helps you enter sooner, buyers still face a complex landscape: tight lending rules, varying competition across suburbs and property types, and little room for error when budgets are stretched.

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First home buyers need to think beyond the deposit:

• What they can realistically borrow and sustain long term

• Which suburbs and property types offer genuine value within budget

• How to avoid overpaying in competitive markets

• Where future growth is likely, not just where prices are currently low

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Melbourne is currently one of the more affordable capital cities nationally. Affordable inner and middle-ring suburbs, along with well-located units and townhouses, are seeing renewed activity and are expected to experience growth throughout 2026. Buyers who act early and strategically can secure properties that meet lifestyle needs while building equity over time.

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This is where a buyer’s advocate can make a real difference. For many first home buyers, the bigger risk isn’t missing out—it’s overpaying or compromising on the wrong property. A buyer’s advocate helps first home buyers:

• Understand true market value

• Access off-market and pre-market opportunities

• Negotiate with confidence

• Avoid costly mistakes that can limit future options

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In most cases, the savings achieved through smarter buying and negotiation outweigh the cost of professional representation. The 5% deposit may open the door, but having a clear strategy and the right support determines what’s on the other side. At Peritum Property, we work exclusively for buyers, guiding first home buyers through Melbourne’s market to make confident, informed decisions and get the most from their budget.