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.