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For many young Australians, owning a home can feel more like a distant dream than a realistic goal. Rising living costs, strong property price growth and slow wage increases have put real pressure on people trying to buy their first home, especially while juggling rent, bills and everyday expenses.

Recent research by Deloitte Access Economics highlights just how tough the landscape has become. Average home prices increased by 67% in the decade to 2023, while average weekly incomes for Australians aged 21 to 34 grew by just 20% over the same period. That gap alone explains why so many first home buyers are finding it hard to get ahead.

The flow-on effect is clear. Big life milestones like leaving the family home and starting a family are happening later. In 1981, around a third of 20 to 24-year-olds lived with their parents. By 2021, that number had jumped to almost 64%. Today, around 40% of Australians aged 25 to 34 rely on some form of family support to enter the property market.

While affordability is a major challenge, I always remind Perth first home buyers that getting into the market isn’t impossible. With the right strategy, support and guidance, home ownership can still be achievable. Below are some of the key options that may help you buy your first home sooner.

The 5% Deposit Scheme

The 5% Deposit Scheme allows eligible first home buyers to purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance.

There are property price caps, but no income limits and no cap on the number of places available. Since launching in 2020, this scheme has helped hundreds of thousands of Australians take their first step onto the property ladder.

For many Perth buyers, this can signicantly reduce the time it takes to save a deposit.

First Home Super Saver Scheme

The First Home Super Saver Scheme lets you save part of your first home deposit through your superannuation.

By making voluntary contributions to your super, you can take advantage of lower tax rates and potentially grow your savings faster. When you’re ready to buy, you can withdraw your contributions and associated earnings to put towards your deposit.

This option works best with forward planning, but it can be a powerful tool when used correctly.

Support from family

Family support continues to play a big role in helping first home buyers get ahead. This can take several forms, including:

• A cash gift towards your deposit
• A private loan with agreed repayment terms
• A guarantor loan using a parent’s home equity
• Joint ownership or accessing equity through refinancing

Each option has benefits and risks, so it’s important that everything is clearly documented and that everyone involved understands the implications.

Ready to take the next step?

Buying your first home can feel overwhelming, but you don’t have to navigate it alone. As a Perth mortgage broker, my role is to help you understand your borrowing options, government schemes and loan structures, so you can move forward with confidence.

If you’re ready to start planning your path into home ownership, get in touch and let’s chat through your finance questions. With the right advice, your first home may be closer than you think.

For many Perth families, helping your kids buy their first home feels both exciting and overwhelming. Property prices across WA have risen, lending rules are tighter than they used to be, and saving a deposit while renting can feel like an uphill battle. As a parent, it’s only natural to want to step in and help.

From my experience as a Perth mortgage broker, the key is finding a way to support your children into the property market without putting your own financial security at risk. There’s no one-size-fits-all solution, but understanding the options makes it much easier to choose the right path.

Below are the most common ways parents help their kids buy property, along with the pros and cons of each.

1. Gifting the deposit

One of the most straightforward options is gifting all or part of the deposit. This reduces how much your child needs to borrow and can help them avoid Lenders Mortgage Insurance if they reach a 20% deposit.

Pros

• Speeds up the buying process
• Reduces loan size and repayments
• No repayment pressure for your child

Cons

• Can reduce your savings or impact retirement plans
• May be treated as a shared asset if your child’s relationship breaks down

2. Loaning the deposit

Instead of gifting the funds, some parents choose to lend the money using a formal loan agreement, often with low or no interest.

Pros

• Clear structure and repayment terms
• Legal protection for both parties
• Greater peace of mind for parents

Cons

• Treated as a liability by lenders
• Can reduce your child’s borrowing capacity

3. Going guarantor

A guarantor loan allows you to use equity in your own home as additional security for your child’s loan. This can help them buy with a smaller deposit or avoid paying LMI.

Pros

• No cash contribution required
• Helps your child buy sooner
• Lower upfront costs

Cons

• You’re financially responsible if repayments aren’t met
• Your property may be at risk if things go wrong

This option can work very well when structured properly, but it needs careful advice.

4. Buying together (co-ownership)

Some parents buy a property with their child as joint owners or tenants in common, often with different ownership percentages.

Pros

• Gets your child into the market sooner
• Shared benefit from future property growth
• Flexible ownership structures

Cons

• Both parties are responsible for the mortgage
• Selling your share may trigger capital gains tax
• Can affect your own future borrowing

May make your child ineligible for first home buyer incentives, such as stamp duty concessions or the First Home Owner Grant.

5. Matching their savings

Matching what your child saves towards their deposit is a great way to encourage good financial habits.

Pros

• Builds discipline and accountability
• Encourages consistent saving
• Helps reach a deposit faster

Cons

• Requires clear expectations and boundaries
• Can still strain your finances

6. Letting them live rent-free

Allowing your child to live at home rent-free for a period can significantly speed up their savings.

Pros

• Minimal financial risk for parents
• Faster deposit growth
• Simple and flexible support option

Cons

• Higher household expenses
• Requires discipline to ensure savings aren’t spent elsewhere

Helping your kids without risking your own future

Every family’s situation is different, and there’s no single “right” way to help your children buy their first home. What matters most is understanding how each option affects your finances, their borrowing power, and their eligibility for first home buyer incentives in WA.

I often see Perth families caught out by well-meaning decisions that later limit incentives or create unexpected tax or lending issues. A short conversation with a mortgage broker before you commit can save a lot of stress down the track.

If you’re thinking about helping your child into the WA property market and want clear, practical advice tailored to your family, I’m always happy to chat. Together, we can find a way to support them into their first home while protecting your long-term financial security.

Buy now, pay later. It sounds convenient and harmless, right? Splitting purchases into smaller, interest-free instalments can feel like an easy win, especially when cost-of-living pressures are already stretched.

It’s no surprise Buy Now, Pay Later (BNPL) services like Afterpay have surged in popularity. In fact, the value of BNPL transactions in Australia is expected to grow from around $17 billion in 2023 to more than $30 billion by 2029.

But if you’re planning to buy a home, there’s an important catch. Recent changes to how BNPL services are regulated mean these platforms can now directly affect your borrowing power and your chances of home loan approval.

What’s changed with BNPL?

For years, BNPL services were able to operate outside Australia’s credit laws. Signing up was quick and easy, often with no real checks on your income, expenses, or ability to repay.

This led to growing concern about overspending. Research from Australian Securities and Investments Commission found that:

• 1 in 5 BNPL users cut back on essentials like food to meet repayments
• 1 in 6 took out another loan just to cover BNPL repayments

Because of this, the government stepped in. From June 2025, BNPL providers became regulated under national credit laws, bringing them more in line with credit cards and personal loans.

BNPL providers must now:

• Hold an Australian Credit Licence
• Conduct affordability checks before approval
• Follow responsible lending obligations

Most importantly for home buyers, missed BNPL payments can now be reported to credit bureaus and show up on your credit report.

How BNPL can affect your home loan

When you apply for a home loan, lenders don’t just look at your income and deposit. They also assess your credit score, credit report, and overall spending behaviour.

With BNPL now included in credit reporting, missed payments can signal fnancial risk to a bank. Even if you’ve never missed a repayment, frequent or ongoing BNPL use can still raise concerns. From a lender’s perspective, it may suggest cash flow pressure or reliance on short-term credit to cover everyday expenses.

The good news is that occasional, well-managed BNPL use is unlikely to derail your home loan application. If accounts are paid on time and balances are low, many lenders will view this as manageable.

Where it becomes an issue is when BNPL is used regularly, balances remain open, or payments are missed. In those cases, BNPL can reduce borrowing power or delay approval altogether.

What should you do if you’re planning to buy?

If you’re thinking about buying a property in Perth, it’s a smart move to tidy up your BNPL habits early.

Here are a few practical steps I often recommend:

• Pay off any outstanding BNPL balances
• Reduce or stop using BNPL where possible
• Close unused BNPL accounts
• Lower BNPL spending limits if available

It’s also worth checking your credit report to see what’s showing. You can access a free report through:

• Equifax Australia
• Experian
• illion

If you notice errors or outdated information, raise it directly with the credit reporting body so it can be corrected before you apply for a loan.

Planning ahead makes all the difference

Understanding how everyday spending affects your credit profile is crucial before applying for a home loan. If BNPL use feels hard to manage, speaking with a qualified financial adviser or financial counsellor can help you get back on track and strengthen your overall financial position.

When you’re ready to explore your home loan options, I’m here to help. As a Perth mortgage broker, I’ll look at your full financial picture and guide you on how to present the strongest possible application. If you’d like to chat, get in touch and let’s take the next step toward home ownership with confidence.