For years, first-home buyers have been told to “save harder”, but from tomorrow, many will need to save a lot less, when the federal government’s First Home Guarantee extension gets underway.

With young buyers now able to step into the market with as little as a 5 per cent deposit Aussie Home Loans has crunched the numbers to figure out where that small deposit can stretch the furthest. And the results are surprising.

“Too many first home buyers are hunting in suburbs that simply don’t match their budget,” Aussie mortgage broker Tracey Hammond said.

“The disconnect between a dream home and financial reality can lead to missed opportunities, prolonged searches, and the risk of overpaying. Being realistic about purchasing capacity from the outset is crucial.”

Aussie Home Loans has launch

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