5 Things Every First Home Buyer Gets Wrong (And How to Avoid Them)

Let’s be real — buying your first home is exciting, but it’s also a maze of confusing terms, random advice, and costly mistakes just waiting to happen.

At Nude Home Loans, we’ve seen the same 5 mistakes pop up again and again — and the good news? They’re easy to avoid (with the right guidance).

Here’s how to dodge the biggest first home buyer blunders in 2025.

1. 🎯 Overestimating What You Can Borrow

Many buyers think they can borrow based on salary alone. But lenders look at a bunch of stuff:

• Your spending habits

• Debts and credit cards

• Living expenses

• Number of dependents

• Type of employment

We’ve seen someone on a $90k income get approved for less than someone earning $75k — all because of lifestyle and debt differences.

How to avoid it:

• Use real serviceability calculators (ours factors in lender criteria)

• Don’t guess — get pre-approved

2. 💸 Forgetting About the Hidden Costs

The deposit is just the beginning.

There’s also:

• Stamp duty (unless you’re exempt)

• Conveyancer fees

• Building/pest inspections

• Loan setup costs

• Moving expenses

These can add up to $10k–$25k easily.

How to avoid it:

• Work with a broker who helps you build an all-in budget

• Look into stamp duty exemptions (we’ll help check!)

3. 🤷‍♂️ Skipping Pre-Approval

We’ve said it before and we’ll keep saying it: don’t shop without a budget.

Too many buyers start looking at homes before they know what they can actually borrow — and then fall in love with something out of reach.

How to avoid it:

• Chat with us about getting pre-approved early

• Avoid the heartbreak (and house hunting fatigue)

4. 🚫 Ignoring Government Grants

There are so many government schemes out there — and they’re changing all the time.

You might be eligible for:

• First Home Guarantee (5% deposit, no LMI)

• VIC First Home Owner Grant (for new builds)

• Stamp duty exemptions or discounts

How to avoid it:

• Book a strategy session with Nude — we’ll check what you qualify for

5. 🏦 Going Straight to the Bank

Your bank may be lovely… but they’re limited to their own products. You might be missing out on:

• A better rate

• A loan with better features (offset, redraw, etc.)

• More flexible borrowing limits

How to avoid it:

• Work with a broker (like us!) who compares 30+ lenders

• Let us negotiate better rates and loan structures for you

🔍 Real Client Case: Zoe in Thornbury

Zoe came to us after being told by her bank she could only borrow $540k. We ran her numbers across multiple lenders — and got her approved for $620k.

She ended up buying a home she actually loved — not one she settled for.

“The Nude team didn’t just get me a loan — they got me the right loan, and helped me avoid rookie mistakes.”

✅ Ready to Buy Smarter?

Avoiding these mistakes could save you thousands and months of stress.

We’ll help you:

• Get your true borrowing power

• Budget for all the costs

• Unlock grants and schemes

• Choose the best lender (not just the loudest one)

👉 [Book your free first home buyer session with Nude Home Loans]

Let’s do this right the first time.